IT News Online – EQ Works announces the launch of LOCUS Commute, enabling retailers, insurers and outdoor advertising networks to understand the travel habits of Canadians
Using proprietary mapping applications, predictive algorithms, and data partnerships, EQ analyzes billions of data points to create new insights into customer behavior.
TORONTO, ON / ACCESSWIRE / July 21, 2021 / EQ Inc. (TSXV: EQ) (“EQ Works” or “EQ”), a leader in geospatial data and artificial intelligence software that drives critical business results for businesses and agencies, is pleased to announce the launch of LOCUS Commute, a powerful tool that provides relevant data to the retail, insurance and advertising communities. By creating virtual replicas of Canada’s streets, sidewalks, highways, and transit systems, and pairing them with sophisticated machine learning models that analyze billions of human motion data points, this technology helps identify user journeys and align them with the mode of travel. LOCUS Commute provides businesses with more in-depth information on where and how people move to enable them to better interact with their customers, lower acquisition costs and lower churn rates.
“This is our second generation of LOCUS Commute. The evolution of this human motion technology combined with our geospatial analysis platform has proven invaluable to retail, advertising and insurance partners. Said Dilshan Kathriarachchi, CTO of EQ Works. “Using our SaaS platform and machine learning framework, customers are able to understand the daily travel behaviors of their customers, and then amplify a customer’s first-party data down to a mass critical, unlocking machine learning and critical predictive capabilities that weren’t possible before. “.
The market for these three verticals is well in excess of $ 1.5 billion, offers significant channel opportunities for EQ Works and is expected to generate additional revenue in the second half of the year. These industries are starting to expand after COVID and EQ Works is already working with, or is in discussion with, many companies in these verticals to help them improve consumer engagement and gain market share.
“LOCUS Commute provides our partners with granular travel and journey data that enables better modeling and analytical workflows in addition to our platform. “Said Mark Ditkofsky, vice president of data solutions, EQ Works,” This data fills in the gaps and important errors that occur when only Breadcrumbs are used. retail. “
About EQ Works
Equalizer is working (www.eqworks.com) enables businesses to understand, predict and influence customer behavior. Using unique data sets, advanced analytics, machine learning and artificial intelligence, EQ Works creates actionable intelligence that enables businesses to attract, retain and develop the most important customers. The company’s proprietary SaaS platform extracts movement insight and geospatial data, enabling businesses to close the loop between digital and real consumer actions.
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This press release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or suggested by such forward-looking statements. EQ Inc. has no obligation to update any forward-looking statements contained herein if material facts should change as a result of new information, future events or otherwise.
Bill Mitoulas, Investor Relations
SOURCE: EQ inc.
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