Development of Predictive Analysis Engine
Security solutions provider EXTOL MSC Berhad has developed a neural network predictive analysis engine and is now working with Australian business intelligence company Yellowfin to develop a front end that is integrated with Yellowfin’s reporting, that can be delivered to clients.
Under the tie up, Yellowfin will make the new engine called “Artificial Neural Networks” (ANN) available with its business intelligence solution for local and international markets. Users will have a highly insightful predictive solution to access optimized results from their business processes, according to EXTOLS MSC’s chief executive officer Justin Tan
Tan said, with the ANN technology, users are able to have a computing system that resembles the human brain in acquiring knowledge through self-learning. Currently, humans are assisted to perform various complex tasks. ANN has the capability to address problems that are difficult or impossible to resolve by traditional computational and statistics methods. This technology can be deployed for face recognition, IP clustering, geo-location analysis, credit card processing, fraud detection, human resource application, vehicle traffic management, postal industry, market research data mining or any data sample in a complex environment that needs behavior analysis.
According to Tan, Extol is looking for more partners from various industries to bundle the ANN technology into their products.
We are already advanced in talking to two new potential partners and we expect the mature markets that are already utilizing ANN to be interested in incorporating this solution into their application,” he said.
A similar concept to optimization, Tan said the ANN plus Yellowfin solution will benefit most industries to optimize the use of their resources to achieve desirable results.
Additionally the response time in producing the desired output is faster. In the financial sector, by incorporating the ANN engine with an active rules based system, we are able to increase the detection of legitimate fraud transactions in a shorter time period”.
Extol has been aggressively involved in artificial intelligence research and is currently working on a new ANN generation that operates on pattern recognition rather than rules. This will play an important role in providing intelligence to computer systems.
Yellowfin’s CEO, Glen Rabie said the company has an established presence in the local financial, insurance and telecommunications industries. “We believe the collaboration with Extol will allow us to better serve clients in these industries. With ANN predictive analysis, customers will be attracted to this new technology as it gives the potential to save time, reduce costs and substantially drive business revenue”