I have worked with iOS reverse geocoding but my question is that is it possible to find out that I have checked into a restaurant or a bank using reverse geocoding. I know reverse geocoding gives the street names and other stuff but does it tell exactly what type of place it is?
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No, reverse geocoding might tell you what kind of a location it is, such as “street”, “ocean”, “inland water” etc. But in order to get more semantics out of the location, you’d need to query other services, like foursquare or the like.