Netrics Achieves Profitability and Reports 176% Revenue Growth
Patented Record Matching Technology Delivers Unparalleled Accuracy and Reliability; Reduces Costs and Delivers More Value from Enterprise Data
PRINCETON, N.J.--Aug. 16, 2004-- Netrics, specializing in intelligently matching and retrieving database records, achieved profitability and reported 176% revenue growth in each of the first two quarters of 2004, as compared to the same two quarters a year ago.
"In 2004, we achieved tremendous growth and firmly positioned ourselves as the leader in inexact record matching, which means that our solutions work even when the data is incomplete and rife with errors," stated Stefanos Damianakis, president and CEO, Netrics. "Our patented Intelligent Record Matching(TM) technology delivers unparalleled accuracy and reliability in handling database records that contain a wide range of errors. Our financial progress is the result of significant inroads that we`ve made in the healthcare, government and e-commerce markets."
"The pervasive nature of data takes a considerable financial and operational toll on companies," continued Damianakis. "Managing and making the best use of rapidly growing corporate databases has become a more challenging and critical task. Since data is constantly changing in ways that are constantly changing, we developed our technology to adapt and automatically deal with these changes. That`s what allows us to deliver bottom line value to our clients and maintain our leadership position in the market."
Netrics` products and data analysis services offer the best way to solve very difficult problems that arise from making effective use of the data stored in databases. Forward-looking industry leaders such as Cerner (Nasdaq: CERN - News), Just Associates, Los Alamos National Laboratory and Multimedia Live have adopted Netrics` revolutionary technologies and are increasing efficiency, reducing costs and delivering more value from enterprise data. The technologies are applied in data-driven situations, and allow the user to overcome the inherent inflexibilities of database-driven computer systems. The applications include retrieving patient records, detecting duplicate patient records, finding similar records across disparate databases and locating the right product in online product catalogs.
Netrics Advances Record Matching Technology
Earlier generations of record matching technology were able to determine equality or inequality in a relatively easy fashion. The difficulty was determining similarity, because these first-generation solutions did not tolerate a wide range of data errors. Thus, these limited and ad hoc solutions produced inferior record matching results.
"Netrics mathematically models a human notion of `similar`," explained Damianakis. "This captures a truer, richer notion of similarity than traditional methods. Netrics` patented machine learning software automatically discovers rules and patterns. The software also processes more fields, which vastly improves the accuracy of its results. Ultimately, since Netrics learns directly from domain experts, the algorithm learns what the human is doing and can even identify errors that the `expert` makes."
About Netrics
Netrics specializes in intelligently matching and retrieving database records. The company`s Intelligent Record Matching(TM) technology solves the inevitable problems caused by the pervasive nature of data. Netrics` products and services enable companies to manage rapidly growing data repositories, increase efficiency, reduce costs and deliver more value from enterprise data. Netrics` software, based upon patented matching algorithms, leapfrogs earlier record matching solutions and delivers unparalleled accuracy and reliability in handling data that contains a wide range of errors, particularly for applications that involve searching databases, matching records and eliminating duplicate records.
The company is headquartered in Princeton, NJ. For additional information about Netrics and its products and services, visit www.netrics.com or email info@netrics.com.
Contact:
Netrics, Inc.
Maria Petroulakis
609-683-4002 x223
mp@netrics.com
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