Medio's
Predictive Analytics Platform to Drive Personalized LBS
Boston, MA - June 12, 2014 – The
goal to deliver personalized location based services (LBS), such as search
results, recommendations, or map views, lies at the heart of HERE’s acquisition
of predictive analytics company, Medio. HERE believes a ‘one size fits all’
approach to delivering maps and location-based services needs to be challenged,
as numerous layers of location relevant information threatens to hinder
optimized LBS experiences.
Strategy
Analytics applauds HERE’s efforts to transform and add value to its core
business as it taps into growing interest in data driven intelligence.
Nitesh
Patel,
Director, Wireless Media Strategies (WMS) at Strategy Analytics noted, “The
acquisition clearly builds on HERE’s recent acquisition of Desti and is
significant for three key reasons:
·
Taps into growing interest from businesses for data driven intelligence
·
Transforms HERE beyond the location data cloud and into the business intelligence
cloud
·
Provides a boost for HERE’s analytics and platform business unit
Click
here for link to our blog:
http://bit.ly/1ohf0sn
However,
predictive analytics is currently in its infancy and David MacQueen,
Director, Media and Apps at Strategy Analytics adds “Will interest in
predictive analytics convert to real demand from businesses? Successful
recommendation systems from players like Amazon and Netflix have highlighted
the power of predictive analytics. With 60% of US smartphone owners using maps to
find a retail location, a well-implemented system can enhance both consumers’
LBS experience and drive retailer business. However, although personalization
reduces serendipity, the promise of targeted adverts has been hit and miss so
far.” Overall, Strategy Analytics applauds HERE’s efforts to innovate
while adding value to its core business.