BOSTON, June 13, 2014 /PRNewswire/ -- 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:
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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.