Annapolis, MD (PRWEB) February 10, 2011
Treeminer, Inc., announced today that it has concluded a license agreement with the NDSU Research Foundation (“NDSU/RF”) for its award winning Vertical Data Mining technology. The agreement gives Treeminer exclusive rights to further develop, market, and sell the data mining solutions developed at North Dakota State University, Fargo, by Dr. William Perrizo.
The amount of data available to businesses and governments is growing far faster than their ability to analyze the information. Significant advantage can be gained by being able to quickly make sense of millions or even billions of pieces of data, and applying the resulting knowledge. By organizing data vertically and then compressing it into a patented data structure called a pTree, dramatic reductions in analysis times can be gained over existing methods, while improving accuracy. Applications for the data mining technology based on pTree algorithms range from defense and intelligence to satellite image analysis, agriculture, computer network security, resource exploitation, bioinformatics, and many more.
“Today, companies must make trade-offs between the speed of analysis and its accuracy,” observed Mark Silverman, CEO of Treeminer, Inc. “The truly novel approach taken by the team at NDSU enables incredibly dramatic decreases in analysis time while actually improving the accuracy of the analysis. We think that data mining technology will be a critical, fundamental building block technology across the information technology spectrum, and have formed the world’s first Vertical Data Mining Company to bring this technology to a large and growing market.”
Dr. William Perrizo, NDSU distinguished professor of computer science, developed the patented algorithms and software on which the technology is based. “In the information science sphere, new approaches can sometimes effect increases in both the speed and accuracy of knowledge discovery. The pTree technology is an example of that,” said Perrizo.
The technology developed by Dr. Perrizo and his team represents approximately a 15-year effort in data mining research.
“We are thrilled to see Dr. Perrizo’s important work reach the market,” said Dale Zetocha, executive director of the NDSU Research Foundation. “It represents a great opportunity to commercialize this research.”
Treeminer will begin select demonstrations of the technology in the first quarter of 2011.
About Treeminer, Inc.
Treeminer is addressing a rapidly emerging challenge in data mining and analysis – the gap between the growing volume and granularity of data, and the lack of scalability of current data mining methods. Treeminer's patented and award winning Vertical Data Mining technology has shown the ability to address this gap by dropping analysis time from hours to almost instantaneous, by analyzing data vertically, rather than row by row as existing methods operate. Initially focused on the security, defense and intelligence segments, Treeminer is bringing to market a range of data mining solutions based upon vertical techniques, including classification and association rule mining methods. http://www.treeminer.com
With a reputation for excellence in teaching and multidisciplinary research, North Dakota State University, Fargo, links academics to opportunities. As a metropolitan land grant institution with more than 14,000 students, NDSU is listed in the top 40 research universities without a medical school in the U.S., based on research expenditures reported to the National Science Foundation. At the 55-acre NDSU Research & Technology Park, faculty, staff and students work with private sector researchers on leading-edge projects. http://www.ndsu.edu
About the NDSU Research Foundation
The NDSU Research Foundation is an independent, not-for-profit organization that supports NDSU in its teaching, research and public service missions. The Foundation manages the intellectual properties developed by faculty, staff and students doing research at NDSU and facilitates commercialization of these technologies. http://www.ndsuresearchfoundation.org
Treeminer Contact: Mark Silverman, CEO, 240-389-0750, msilverman (at) treeminer (dot) com
NDSU Research Foundation Contact: Dale Zetocha Exec. Dir. 701-231-8931 dzetocha (at) ndsurf (dot) org
NDSU Contact: Carol Renner 701-231-5174 carol.renner (at) ndsu (dot) edu