ParkLife is a provider of next-generation navigation technology that uses sophisticated routing algorithms to show drivers the best route to a parking spot near their destination. Its innovative technology maximizes the odds of finding a parking spot, with minimal searching as well as minimal costs.
The companys proprietary parking-search algorithms combine high-resolution statistical modeling with advanced machine-learning technology. All historical routes and parking-spot metadata are stored in itsdatabases, where its machine-learning algorithms utilize big-data approaches to find the optimal route based on real-time decision making.
ParkLife's algorithms delivervaluable information,including parking supply and demand in the chosen area on any given day and time; the priceof on- and off-street parking; and the drivers preferences, including any limitations and previous experience parking in the area. ParkLife is highly scalable and can operate in new areas quickly, cost-effectively, and with no need for historical data.