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InferX Corporation Receives Approval for Its Patent Application on Knowledge Inferencing and Data Visualization Method and System
Wednesday, July 09, 2008
InferX Corporation (OTCBB: IFRX), a leading provider of predictive data analytics technologies and solutions to government agencies and commercial firms, announced the U.S. Patent and Trademark Office has approved the issuance to InferX a patent, "Knowledge Inferencing and Data Visualization Method and System." The patent covers key components of InferX's distributed Predictive Analytics software platform, which seamlessly examines both structured and unstructured distributed data sources on a near real time basis.
"Our experience shows innovative knowledge visualization techniques are a very important part of improving understanding and facilitating real time decision-making," said Dr. Jerzy Bala, InferX's Chief Technology Officer. "InferX's distributed predictive analytics technology infers rules which identify new decision-making insights and unexpected knowledge. Coupling this with the ability to visualize large, complex knowledge bases, through real time three-dimensional graphical depictions, provides a highly effective user-customized structure for decision-making. It also provides a high value-added component in many mission critical business and government applications."
This patent, the second issued to InferX, describes the method and system that employs knowledge visualization techniques for robust real-time classification of incoming data as well as for forecasting new unexpected trends. The Company was awarded a patent in December 2007 for "Distributed Data Mining and Compression Method and System," the key algorithmic component of InferX's flagship product, Distributed Data Analytics Platform (D2AP). D2AP enables the entire enterprise to analyze data in a distributed fashion at its point of origins, facilitating near real-time analytics to meet critical mission needs. In addition, by keeping the data where it resides, the approach addresses the ownership, privacy, and security concerns of the organization or enterprise.
Paul B. Silverman, recently appointed interim CEO of InferX, said, "We are encouraged by the opportunity for InferX's leading edge distributed predictive analytics solutions to improve business performance and manage enterprise risk in diverse sectors with applications ranging from security, fraud detection, financial transaction auditing, equipment maintenance and many others. Within the insurance sector, for example, it is estimated that less than one out of 20 firms have automated predictive analytic capabilities in place to detect fraudulent claims by screening both structured data and text information. This lack of important predictive analytics tools impacts business performance, impacts fraud detection and increases enterprise risk. Unfortunately this is a pattern we see in the financial services, banking and many other sectors. We foresee InferX's patented data analytics solution making a substantive contribution to address these issues."
About InferX Corporation
InferX Corporation (OTCBB: IFRX) is a market leader in next generation predictive analytics. The Company has pioneered and commercialized a powerful, proprietary suite of data analytical risk and threat assessment solutions including:
- InferAgent, a technology that accesses, analyzes and performs predictive analyses in real-time on multiple, distributed, disparate databases;
- InferText, a technology that accesses, analyzes and performs predictive analyses on documents, reports, e-mails and other texts;
- InferCluster, a technology that allows users to automatically identify data clusters and outliers hidden in large amounts of data;
- Distributed Data Analytics Platform (D2A), used to concurrently analyze data using InferAgent, InferText and InferCluster.
For more information go to the InferX website www.inferx.com.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements including the Company's ability to obtain future financing on favorable terms, changes in the wireless and telecommunications industries that compel the Company to alter its present business strategy, the Company's ability to attract management capable of implementing the Company's existing or future business strategy and the risk factors set forth in the Company's 10-K for the year ended December 31, 2007. Results actually achieved may differ materially from expected results included in these statements as a result of these factors or others.
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