TRAP Systems Changes Name to HOPS and Introduces New Software-as-a-Service Platform

MIAMI--(BUSINESS WIRE)--TRAP Systems, a provider of data analytic tools and products, announced today that it has changed its company name to HOPS. HOPS, which stands for Heuristic Optimized Processing System, is also the name of the company’s unique core technology. Currently, HOPS services over 100,000 unique subscribers, houses 600 terabytes of customer data and produces over 350,000 monthly reports for the health care, financial processing and retail markets.

“As our company evolves to a Software-as-a-Service delivery model offering clients on-demand analysis of their enterprise-wide data, we believe that the HOPS name more directly expresses the powerful technology enabling this service,” said HOPS CEO Simeon Kohl. “It is the unique design of the HOPS data analysis engine that allows us to process large, complex sets of data to meet on-demand analytic needs, differentiating us from all SaaS solutions available today.”

“The HOPS data analysis engine provides scalability to both our business model as well as our clients’ business operations,” said Kohl. “This scalability allows us to provide cost effective solutions to clients of any size, who have up to multi-terabyte size databases.”

Although the technology is applicable to any industry, HOPS currently serves the health care, financial processing and retail markets. HOPS brings clarity to the detection of patterns in health care claims data and is particularly effective in the challenging area of fraud detection. This helps minimize an insurer’s losses in an industry with estimated fraud of 60 to 200 billion dollars annually. For the financial processing and retail markets, HOPS provides a way to analyze promotions, spending, losses and consumption patterns, helping clients maximize their revenues.

About HOPS

HOPS (www.hops.com) is a leading provider of data analytic tools and products, utilizing its unique data analysis engine to quickly get clients to places they have never been before. HOPS, which stands for Heuristic Optimized Processing System, is the fastest and most flexible on-demand analysis solution available for large sets of data. In a recent test, HOPS did an all-column scan of over 70,000,000 rows in only 13 seconds. Deployed through a SaaS model, HOPS’ products can analyze data for an entire enterprise, offering the scalability to work with hundreds of terabytes of data, cost effectively. Currently, HOPS services over 100,000 unique subscribers, houses 600 terabytes of customer data and produces over 350,000 monthly reports for the health care, financial processing and retail markets. HOPS is headquartered in Miami Lakes, Florida.