National Council for Social Security Fund of the People's Republic of China Standardizes on Insightful's S-PLUS(R)
February 26 2007 - 9:00AM
Business Wire
Insightful Corporation (NASDAQ:IFUL), a leading provider of
predictive analytics and reporting solutions, announced today that
the National Council for Social Security Fund (SSF) of the People�s
Republic of China has selected Insightful�s S-PLUS� as its primary
analytics platform for building the SSF�s internal metric system
for risk management and investment performance. SSF, established to
manage and operate more than $25 billion in assets of the National
Social Security Fund, chose Insightful�s S-PLUS product family
after a thorough analysis of most of the commercially available
statistical software packages available. SSF will use the
Insightful platform�s advanced quantitative and scientific
approaches to build predictive models in order to accurately
predict risk and thereby minimize economic surprises. By developing
an S-PLUS-based investment performance system, the fund�s goals are
to improve returns and manage risks more effectively. �Given our
mandate for building an internal metric system for risk management
and investment performance, we needed a strong analytics platform
that will help us to quickly build and test predictive quantitative
models,� said Mr. Su Yuansheng, project leader of Information
Research Division of SSF. �We chose S-PLUS over competitors
including SAS and SPSS because of the economic value it provides
with its flexible and rapid prototyping and its proven capabilities
in modeling and analyzing financial market data.� In addition to
S-PLUS, SSF will also be deploying Insightful�s S+FinMetrics� and
S+NuOPT�. S+FinMetrics is a specialized software solution for
modeling, analyzing, and visualizing financial market data. The
software offers a modern, and flexible analytic environment for
reliable and robust, predictive econometric modeling. S+NuOPT
combines powerful statistics and graphics with large-scale
optimization problem solving. It is specifically designed to
optimize large portfolios of assets and liabilities. By deploying
Insightful�s analytics platform, SSF can quickly develop an
investment metric system that enables better decision making in
risk and performance management. �We are very pleased to have the
S-PLUS product family selected by the National Council for Social
Security Fund after such a thorough and rigorous evaluation
process,� said Jeff Coombs, president and chief executive officer
of Insightful. �Being selected by the SSF is not only highly
prestigious for Insightful, but an important step in our strategy
to build Insightful�s presence in China.� About SSF In August 2000,
the Central Committee of CPC and the State Council established a
National Social Security Fund (NSSF), and set up National Council
for Social Security Fund (SSF) for managing and operating the
NSSF�s assets. NSSF aims to be a solution to the problem of aging
and serves as a strategic reserve fund accumulated by the central
government to support future social security expenditures. SSF is
responsible for the management and operation of NSSF, including
selecting investment managers and custodians of the NSSF, to
mandate them with and to monitor the investment operation and
custody of the NSSF assets, and to invest directly in prescriptive
markets in accordance with the related laws and regulations. During
the past few years the SSF has diversified its investments and in
2004 the State Council agreed that NSSF could be invested in
overseas markets. More information is available at:
http://www.ssf.gov.cn. About Insightful Insightful Corporation
(NASDAQ:IFUL) is a provider of predictive analytics and reporting
solutions that gives companies the knowledge to act�. Insightful
products S-PLUS�, Insightful Miner�, S-PLUS� Server and InFact�
allow companies to perform sophisticated statistical data analysis,
data mining and to create high-quality graphics from numeric and
text data. Insightful consulting services provide specialized
expertise and proven processes for the design, development and
deployment of customized solutions. The company has been delivering
industry-leading, high-ROI solutions to thousands of companies in
financial services, life sciences, biotechnology,
telecommunications, and manufacturing, plus government and research
institutions. Headquartered in Seattle, Insightful has offices in
New York, North Carolina, France, Switzerland, and the United
Kingdom, with distributors around the world. For more information,
visit www.insightful.com, email info@insightful.com or call
800-569-0123. Note to Investors - Forward-Looking Statements This
press release contains forward-looking statements, including
statements about our customers� plans for deploying our products,
the ability of our products to improve the quality and timeliness
of predictive analytics and quantitative research, and our plans to
expand our presence in China. Forward-looking statements are based
on the judgment and opinions of management at the time the
statements are made. Inaccurate assumptions and known and unknown
risks and uncertainties can affect the accuracy of forward-looking
statements. Actual results could differ materially from those
expressed or implied by the forward-looking statements for a number
of reasons, including, without limitation, the risk that our
products to not perform as expected and the risks associated with
defects or errors in our products. More detailed information
regarding these and other factors that could affect actual results
is set forth in our filings with the Securities and Exchange
Commission, including our most recent Quarterly Report on Form
10-QSB. You should not unduly rely on these forward-looking
statements, which apply only as of the date of this release. We
undertake no obligation to update publicly any forward-looking
statements to reflect new information, events or circumstances
after the date of this release or to reflect the occurrence of
anticipated events.
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