Business
EQ Works Announces the Launch of LOCUS Commute, Allowing Retailers, Insurance Providers and Out of Home Networks to Understand Movement Patterns of Canadians
Utilizing proprietary mapping applications, predictive algorithms, and data partnerships, EQ...
About this update from Eq Inc.
[{"type":"text","content":"EQ Works Announces the Launch of LOCUS Commute, Allowing Retailers, Insurance Providers and Out of Home Networks to Understand Movement Patterns of CanadiansUtilizing proprietary mapping applications, predictive algorithms, and data partnerships, EQ scans through billions of data points to create new insights for customer behaviour.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 outcomes for enterprises and agencies, is pleased to announce the launch of LOCUS Commute, a powerful tool that provides insightful data for the retail, insurance and advertising communities. Building virtual replicas of Canada's city streets, sidewalks, highways and transit systems, and pairing it with sophisticated machine learning models that analyze billions of human movement data points, this technology helps identify user journeys and aligns them to the modality of travel. LOCUS Commute provides businesses with deeper insights into where and how people move to enable them to better interact with their customers, lower acquisition costs and reduce churn.\"This is our second generation of LOCUS Commute. The evolution of this human movement technology combined with our geospatial analytics platform, has proven invaluable for retail, advertising and insurance partners.\" said Dilshan Kathriarachchi, CTO of EQ Works. \"Utilizing our SaaS platform and machine learning framework, clients are able to understand the daily commute behaviours of their customers, and then amplify a customer's first-party data to critical mass, unlocking machine learning and predictive essential capabilities not previously possible.\"The market for these three verticals is well over $1.5B, provides significant channel opportunities for EQ Works, and should drive incremental revenue through the second half of the year. These industries are beginning to ramp up post-COVID and EQ Works is already working with, or in discussions with, many firms in these verticals to help them enhance consumer engagement and gain market share.\"LOCUS Commute provides our partners with granular movement and journey data that enables better modeling and analytic workflows on top of our platform.\" says Mark Ditkofsky, Vice President of Data Solutions, EQ Works, \"These...