Funny thing is, I belive the creation of the site you linked to was driven by this one, out of Budapest, Hungary, which appeared online first:
RSOE Havaria Information Service - Alertmap
If you compare the two, they are not identical; although they do track many of the same incidents, there is unique content on each. However, as you stated, this type of program does not have the capability to function as an analytic tool, but it does provide a good visual of current incidents.
Where I work, an office near mine keeps both of these sites up all day long on two big flat-screens mounted on the wall. It doesn't really serve a useful purpose that way - but it looks cool.
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