MetricStream Granted Patent for Text Fragment Classification System
MetricStream, a provider of governance, risk, and compliance (GRC) apps, has been granted a U.S. patent for "System and Method for Rule Based Classification of a Text Fragment." The company says that the patent, issued on May 24, 2016, covers the company’s creation of a classification system for text fragments and implementation of domain rules, which is different than a standard natural language processing technique that uses the probabilistic characteristics of the language.
The MetricStream classification system categorizes text (one or more sentences) obtained from multimedia content such as digitized handwritten notes, digitized spoken words, digitized audio content, texts from social media, and email.
MetricStream is leveraging this text fragment classification technology as well as other emerging analytics technologies to help organizations predict areas of risk, and balance opportunities effectively.
According to MetricStream CTO Vidya Phalke, the patent is a significant milestone for the company, demonstrating the depth of its analytics capabilities, which include a significant number of use cases in extracting risk intelligence from unstructured data. In today's hyper-connected world, marked by rising mobility and social media usage, he added, organizations are looking to technology to help turn big data across data sources into meaningful insights that support better decision making and business performance.
For more information, go to www.metricstream.com.
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