Precisely has announced the expansion of its geo-addressing capabilities to cover more geographies and deepen the capabilities within existing ones. It has extended the capabilities of Address Fabric and Property Attributes. It intends to better support customers globally by enabling them to unlock greater location-based context from their data. Customers can unlock even greater value from these updates through the PreciselyID – which serves as the single point of reference for joining one or more datasets, significantly simplifying data interoperability, and eliminating time-consuming spatial processing.
Dan Adams, Senior Vice President and General Manager for Data Enrichment at Precisely, commented, “Precisely continues to be at the forefront of data enrichment and geo addressing solutions, enabling customers where they are on their data journey and supporting them with access to consistent location-based insights across their countries of operation. An essential element of data integrity, our unique PreciselyID makes address management and enrichment simple by eliminating time-consuming data preparation and augmenting insights with rich, relevant context.”
Extending the Address Fabric
Precisely has announced the addition of new countries for the Address Fabric. It has added data sets for Great Britain, France, and New Zealand, adding to the existing coverage of the United States, Canada and Australia. Adams explained, “Each of these records is appended with a unique PreciselyID, which allows customers to easily append data from our global data enrichment portfolio of over 400 datasets, containing more than 9,000 different attributes.”
I asked Adams what countries are next on the roadmap. He replied, “Italy, Spain, and Gibraltar are next on the roadmap. Our Master Location Data allows us to develop new data products in these countries.”
How does Precisely choose which country to extend the data to next? Adams said, “Our decisions are primarily customer and market-driven. We prioritise countries based on feedback from our customers, as well as the needs of potential customers.”
The expanded dataset will enable customers operating in those regions to have an up-to-date and comprehensive list of physical addresses mapped against the PreciselyID, which allows them to use the data alongside other datasets such as demographics, psychographics, property tax, and risk factors. Combined, this information can inform decisions on selling or cross-selling, insurance, property location decisions and more.
For example, within the us the average large business in the US is estimated to retain over 100 million unique addresses. However, maintaining data integrity is a challenge as place names, street names, and building names change. Having the PreciselyID as a permanent unique identified for every property, regardless of the current naming convention allows more accurate analysis of the business data associated with those addresses.
Property Attributes extended
Property Attributes enables customers to to gain access to information about properties across 3,140 US counties. Precisely has now added another 26 attributes using an integration with Multiple Listing Service (MLS) data. MLS is a free listing service that contains data from real estate agents across the United States. The data includes whether the property is affiliated with a Homeowner’s Association or if it’s considered a rental property.
The addition means that customers now have over 230 different property information attributes across nearly every country in the United States. It means that they have access to a compressive set of information that can help with decision making and market analysis. The information that they can surface and analyse includes:
- Internal and External Building Characteristics
- Legal Description
- Mortgage Information (available on select products)
- Owner and Address Information
- Physical Property and Location Data, such as construction materials and year-built
- Property Site Characteristics, such as square footage
- Property Tax and Sale Information
- Replacement Cost Value
- Seller and Buyer Information (available on select products)
Enterprise Times: What does this mean
Precisely has again extended its geographic information services. While the Property Attributes is only available within the US currently, it will be interesting to see whether and when it extends this service to other countries. The first step on that journey is extending the Address Fabric. At the heart of this is the PreciselyID, which provides the glue for these disparate data sets to leverage the best-in-class geo-addressing solutions from Precisely.
Precisely continues to work with third-party organisations to strengthen its capabilities and also support the wider industry. It recently joined the Overture Map Foundation (OMF). OMF is an initiative founded by Amazon Web Services (AWS), Meta, Microsoft, and TomTom. Precisely aims to provide guidance on location intelligence and data enrichment to help drive exciting new advancements in geospatial technology and provide an alternative to Google.
This announcement is important for certain sectors in the US, which will find the extension of Property Attributes with the Real Estate data useful. However, the extension to the Address Fabric opens up a huge opportunity for Precisely in those countries. It will be interesting to see how quickly it will take advantage of that and extend its customer base.
