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 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 data fill in significant gaps and errors that occur when only sparse location breadcrumbs are used. It will be invaluable going forward across key industries we serve including automotive, insurance, advertising and retail."
About EQ Works
EQ Works (www.eqworks.com) enables businesses to understand, predict, and influence customer behaviour. Using unique data sets, advanced analytics, machine learning and artificial intelligence, EQ Works creates actionable intelligence for businesses to attract, retain, and grow the customers that matter most. The Company's proprietary SaaS platform mines insights from movement and geospatial data, enabling businesses to close the loop between digital and real-world consumer actions.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
This news 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 implied by such forward-looking statements. EQ Inc. is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
Bill Mitoulas, Investor Relations
SOURCE: EQ Inc.
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