OTTAWA, ONTARIO -- (Marketwire) -- 02/26/13 -- Privacy Analytics, recently named one of the big winners at the STRATA 2012 Big Data Startup Showcase in New York City, have changed the big data privacy landscape yet again. With updated PARAT 5.0 software by Privacy Analytics any organization that deals with big data can make use of cloud services to share de-identified personal data across their various departments and partners - all while maintaining the toughest legal and practical limits of privacy. This new tool will increase productivity and speed, as well as decrease costs across the board by simplifying current methodologies.
Big data analytics is concerned with the process of examining huge amounts of different types of data to discover hidden patterns, useful information and unknown correlations. De-identification refers to the removal of all information that would allow the personal identification of any individual within the data source. Privacy Analytics' founders were inspired by today's reality of cheap computation and ubiquitous data collection, mixed with recognized software development processes such as quality assurance testing. Privacy Analytics recognizes the need for new tools in this developing big data landscape, to give users and companies the competitive advantage over rivals and reap benefits like increased revenue, research insight and more effective marketing.
According to Ben Eze, Privacy Analytics' Lead Developer, "There are many health organizations, financial organizations and governments that sit on a lot of data... they can't share this data because it contains personal information about clients, patients and whoever." He explained how the startup is changing the landscape of big data analytics by using patented technologies and algorithms to ferret out personal identifying information in clients' data. The software then strips this information out, allowing Privacy Analytics' clients to safely share this data with others for research and collaborative purposes.
This is where the new release of Privacy Analytics' flagship software application PARAT (Privacy Analytics Risk Assessment Tool) comes in. PARAT version 5.0 uses cloud based technologies to share data between internal data users and external data recipients in a completely secure manner, keeping data protected. Data managers and privacy officers can feel secure they are meeting their obligations of the various agencies, auditors, laws and regulations like HIPAA.
Eze articulated that big data analytics is something that is only going to become more and more important as technology and networking become more embedded in our everyday lives. Eze claims that Privacy Analytics is the only analytics company offering unique, cloud-based solutions that address this growing reality. Eze mentions this is one of the main reasons why they, (Privacy Analytics) bagged the award at STRATA.
Privacy Analytics Inc. is a spin-off from the Electronic Health Information Laboratory (EHIL) incorporated in 2007. It has a team of accomplished and reputable scientists and engineers working with a respectable and experienced management team focused on making the de-identification and masking process easier, simpler and faster. Many companies and indeed governments are recognizing the great value in big data analytics but also place great value on protecting their sources' privacy.
The organization has developed the "only commercially-available integrated masking and de-identification tool on the market today". They also take pride in their unique risk-based approach to de-identification and masking. Privacy Analytics' primary objective is to help companies, governments and organizations of all types make better decisions by enabling data managers and data scientists to analyze large volumes of raw data as well as additional sources of data that, until now, have been untapped by traditional business intelligence services. Such data sources include Internet streaming data, web server logs, mobile phone call records, social media, photo and video archives as well as the ever increasing volume of raw data captured by various sensors and networks. By employing software tools such as PARAT big data analytics like data mining and predictive analytics can be carried out safely and anonymously.
With the new cloud based abilities of PARAT 5.0 businesses and organizations can put their data to work building business and research intelligence as well as their bottom line.
To find out more about Privacy Analytics and their PARAT software, its available cloud features and privacy protections check out the Canadian de-identification software company's website at http://www.privacyanalytics.ca where they have compiled a number of case studies of companies that they helped in leveraging PARAT and other services offered by the organization.
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