Nokia's Mapping Unit Buys Predictive Analytics Firm Medio
Looking to boost its ability to deliver personalized and contextual maps and services, Nokia’s mapping division, Here, has acquired Seattle-based real-time predictive analytics firm Medio Systems Inc.
Predictive analytics are an essential component of Here’s plans to provide the right maps and services at the right moment across screens and operating systems. And acquiring Medio Systems will help Here achieve that goal “by taking maps far beyond where they are today.”
Here plans to use Medio's tech to give people and businesses more predictive experiences that change according to each situation. To make the most of the acquisition, Here also intends to share Medio’s technology -- if relevant -- with Nokia Group’s networks and technologies businesses.
You Do Want Fries with That
For example, that could mean delivering restaurant recommendations to a person who’s ready for lunch, offering drivers routes that match their driving styles based on real-time conditions or helping businesses personalize their customer offerings. Nokia is not divulging how much it is paying for Medio’s technology. The deal is expected to close by the end of July 2014.
“We are entering the age of what I call cognitive mapping, in which maps will understand their environment and anticipate people's intent in order to deliver interactive and smart location experiences,” said Michael Halbherr, CEO of Here.
Halbherr said Here is planning to extend Medio’s technology, which analyzes millions of connected devices and billions of interactions on the go to, so the company can deliver highly personalized maps and location services for whatever people face throughout their days.
Giving You Info, Your Way
Founded about 10 years ago, Medio officials said the company has helped organizations from multiple industries deliver more personalized services to their customers. Now, as part of Here, Medio will be able to combine its predictive analytics capabilities with Here’s location intelligence to reach more companies.
In order to understand what a person might want and need at any given moment, Medio’s cloud-based analytics engine mines vast amounts of real-time activity now available from sensors and connected devices, then serves it up as business intelligence that companies can use to make better, automated business decisions.
Crawford Del Prete, EVP Worldwide research, IDC, said in a statement that the third platform of computing, built on cloud, big data and analytics, mobile, and social is starting to move into its next phase.
“This next era of computing will be highly dependent on the personalization of services and products,” Del Prete said. “The combination of Here’s at-scale mapping platform and Medio’s predictive analytics is very powerful, and an important part of how technology will transform everyday experiences in the future.”