First American Spatial Solutions Reaches 100 Million Parcel Mark for Digital Parcel Database
August 5, 2008
ANTA ANA, Calif., -- The First American Corporation (NYSE: FAF) announced its First American Spatial Solutions (FASS) business unit has reached the 100 million parcel mark as part of an ongoing effort to create a national parcel database.
The database includes digitally converted and normalized parcel information and points for more than 2,100 counties and townships in the United States. By utilizing parcel information, companies can improve the accuracy of location-based applications and analytical solutions. FASS is currently making this dataset available as part of its ParcelPoint(TM) solution.
"The GIS space is evolving toward higher accuracy base data. Parcel geometry provides one of the best ways to improve the accuracy of many location-based applications and analytical solutions. Parcel data provides an ability to assign more accurate latitude and longitude coordinates for precise positional accuracy," said David Sonnen, senior consultant at International Data Corp (IDC). "First American has put a lot of effort into building a national parcel database. Reaching the 100 million mark is not only good for the company, but to the industry as a whole."
First American Spatial Solutions' goal is to capture property data throughout the entire country to create the first complete national parcel database. The company plans to expand its database to include 110 million parcels by the end of 2008, which will include approximately 80 percent of the country's parcels. Because parcels are constantly changing, the parcel information stored in the database will be regularly updated.
ParcelPoint complements First American's vast portfolio of data resources to allow industries to accurately locate properties for asset management and property-level risk assessment. Parcels are used by a variety of industries including insurance, utilities, energy, real estate and telecommunications for identifying correct property locations for compliance, tax and risk management purposes. When used with the company's PxPoint geocoder, a high-precision, parcel-level geocoding and spatial analytic engine, customers can achieve the highest level of positional accuracy for any spatial application.
For more information on ParcelPoint visit http://www.location.firstam.com
Source: The First American Corporation
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