Here's an example for a local business (this feature is even more useful for places that don't have a name in Google Maps):
To edit a name or delete it, open the side menu and tap "Your places". At the top of the section, you can find the named places, including "home" and "work".
Google Maps also has a new interface for location history: it's called "your timeline" and it's available on the web and in the Android app. "Your Timeline allows you to visualize your real-world routines, easily see the trips you've taken and get a glimpse of the places where you spend your time. And if you use Google Photos, we'll show the photos you took when viewing a specific day, to help resurface your memories," informs Google. You can customize the timeline by removing places or adding private names. This feature still requires Location History, which can be enabled or disabled from Google Maps, Google Settings or My Account.