San Jose, CA -- (SBWIRE) -- 02/25/2013 -- Local-Insights is seeking initial stage seed investment for its revolutionary patent pending product titled "Methods and Systems for Dynamic Geospatial Mapping and Visualization." The firm's patent pending innovation is a spatial software as a service (SAAS) decision tool that will transform the way businesses make location-based decisions. The patent application was filed on 13 September, 2011 under the US Provisional Patent Application.
This patent pending invention obtains real-time data from thousands for US local and regional markets and uses complex location-based analytics to valuate real estate properties.
- It is a computer-implemented method used to acquire and compile geospatial data, and generate an interactive visual depiction of the geospatial data based on user input.
- It provides users with 24-month local predictive analytics that help businesses make informed decisions with regard to purchase and sale of anything real estate or location-based related.
Need for Localized Geographic Information System (GIS)
Traditional geospatial mapping systems allow users to use customized search options to obtain real estate property listings. Such systems have a user interface that allows users to define geographical areas using spatial and non-spatial filters. People associated with property sales including real estate investors, realtors, brokers, and agents make decisions and recommendations based on historical property data which is limited to yearly demographic and economic dataset.
Consumer loss of home equity, increasing rates of foreclosure, and expanding bank problem inventories indicate that these traditional real estate valuation models are inadequate. Investors lack local level GIS tools that help them to make adequate informed decisions. Hence, there is an acute need for local level SAAS platform that helps investors and businesses, to make informed real estate and LBS decisions.
Detailed Description of the Product
Local-Insights's pioneering localized GUI uses proprietary valuation models and spatial predictive models to provide customized Location Based Services (LBS).
The first step involves acquiring historical geospatial data collected over multiple time periods from one or more vendors. The data categories comprise national variables, metro market data, monthly or quarterly datasets, and all national-level property datasets.
This data is then evaluated to generate multiple variables which are then categorized into individual geospatial datasets and a standard database. These geospatial datasets consist of Census Block data, Census Block Group data, Census Tract information, and Zip Code of areas. It also contains neighborhood, city, county, metro market, and state related data.
Each geospatial dataset comprises multiple geospatial database rows and columns. This platform provides results based on that analysis of a vast amount of information. Building a 12-month predictive model for a geospatial level requires three times the amount of data as the desired time period.
Next, this SAAS platform provides a 24 month geospatial forecast. It uses a predictive engine that analyzes the individual geospatial datasets using multiple mathematical processes to provide results with statistical confidence. The following measures are taken to enhance the accuracy of the prediction.
- Different methods or combinations of mathematical processes are tested to enhance the predictive model.
- The methods are re-tested every week, month, and/or quarter to enhance the accuracy of the predictive engine.
- In addition, the expert system comprises over a hundred geospatial rules, formulated over time to optimize the forecasts.
Based on this analysis, the system provides real estate valuations in the form of geospatial heat maps. The user-interface has ranked or tiered weighted searches; the user can generate dynamic geospatial maps by using different search criteria. The dynamic geospatial maps are visually represented as heat maps with 3 to 10 colors. In addition, users can instantly view, find, and export the dynamic maps into a table. For greater convenience, the user is allowed to slide a spatial slider to generate customized heat maps. The user dynamically accesses all spatial boundary information in a report, a form, a web page, or a dynamic map.
There are different types of reports that can be generated using this system. For example, there is a specific report that traders for mortgage backed securities (MBS) can use to adequately assess securities and another that contains only data that is positive (above 75% percentile).
This pioneering product is more accurate than current location-based analytic tools and is a good investment option for seed investors.
Local-Insights offers real-time map based tools that accurately predict housing prices.
For more information regarding Local-Insights tools, please visit http://angel.co/local-insights
Eddie Godshalk, CEO of Local-Insights
Location: San Jose, CA