Mediazest jumps after officially launching Retail Analytics product

Mediazest shares rocketed on Monday after launching its retail data gathering product, MediaZest Retail Analytics.The product, which has been developed in conjunction with Argus Global Biometrics Technologies, is the first scalable intellectual property asset the group has added since inception.Chief executive Geoff Robertson said: "This development is of tremendous significance for the group. Recent high profile audio visual integration projects show how well the group delivers its work, but are by their nature longer-term opportunities and timing can be difficult to predict. The MediaZest Retail Analytics system provides us with a product that in its very nature delivers constant information and reports to clients and as such will give us better ongoing monthly fees and much greater revenue visibility moving forward."We have seen a huge amount of interest in the product when showing existing and prospective clients and we expect it to have a big impact on the business over the next 12 months and beyond. By providing anonymous but genuine 'big data' information to retailers we believe we are leading the market in the information currently available in bricks and mortar retail stores."The group anticipates that existing customers will use the system to ascertain the success of audio-visual installations and a whole new set of customer using the system purely to provide data to help them run their businesses better.After soft launching the product in October, the group has also sold and deployed it to a global retailer for an initial site.It said it expects to announce further similar deals in the next quarter.