NETP news --
MIT recognizes Net Perceptions as Top Technology Innovator
for Web-based Businesses
MIT's Sloan School of Management Awards Presents Company
With Sloan E-Commerce Technology Innovator Award
CAMBRIDGE, Mass., May 18 /PRNewswire/ -- Net Perceptions (Nasdaq: NETP)
has received the first-ever Massachusetts Institute of Technology Sloan
E-Commerce Technology Innovator Award. The announcement was made recently at
an awards ceremony held at MIT's Cambridge, Mass., campus.
"Net Perceptions was chosen for the Technology Innovator Award because its
personalization solutions are based on ground-breaking research that has
opened up a new direction for e-commerce customer service," explained Rob
Bailey, head organizer of the Sloan E-Commerce Awards. "The fact that Net
Perceptions' core technology was first developed at the University of
Minnesota and has gone on in a few short years to become the leading
technology for E-Commerce makes it very deserving of this award."
Designed to recognize innovations that "show the most potential to further
the evolution of Web-based commerce," the Technology Innovator Award was
presented to Net Perceptions in recognition of its revolutionary realtime
recommendation solutions. The selection committee included such notables as
Rich Barton of Microsoft, the inventor of Expedia; Michael Dell, chairman and
CEO of Dell Computer Corporation; Alan Webber, founder of Fast Company
Magazine, and Patty Maes, Founder and Director of Firefly, among others.
Additional details on the awards can be found at www.mitawards.org .
Industry insiders have echoed the sentiments of MIT Sloan community.
"There has been an incredible amount of hyperbole generated around the concept
of personalization, but Net Perceptions is one of the few companies that can
actually deliver a real solution," said Donovan Gow, research analyst at the
Aberdeen Group. "The MIT Award further validates what users already know;
namely that technologies such as Net Perceptions' Realtime Recommendation
Platform will fundamentally alter the face of e-commerce and, more to the
point, provide user organizations with a considerable competitive advantage."
"Its very gratifying to be recognized by MIT's prestigious Sloan School
for our advanced personalization technology," said Steven Snyder, president
and CEO of Net Perceptions. "Our customers already know our recommendation
solutions are innovative in their ability to combine realtime customer
intelligence with immediate action for enduring, profitable customer
relationships."
About Net Perceptions
Incorporated in 1996, Net Perceptions, Inc. is a leading developer and
supplier of marketing solutions based on realtime personalization and customer
interaction. It is the originator of online collaborative filtering
technology, the most accurate predictor of individual behavior available.
Also the originator of the Realtime Recommendation Platform, which integrates
collaborative filtering, neural network, fuzzy logic and genetic algorithm
technologies, and automatically applies the optimum technology to whatever
recommendation or personalization task is at hand. Net Perceptions' founders
include the original team of University of Minnesota researchers who pioneered
the concepts and applications of collaborative filtering.
Over 100 leading Internet companies have selected Net Perceptions
including: Art.com, Audio Book Clubs, Bertelsmann, Billboard Talent Net,
CDnow, E!Online, iVillage, Planet Direct, Speed Serve, Tower Records and
Ticketmaster. Net Perceptions trades on the Nasdaq stock exchange
(Nasdaq: NETP). Net Perceptions can be reached by calling 1-800-466-0711 or
on the World Wide Web at netperceptions.com .
SOURCE Net Perceptions, Inc. |
