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"Yahoo has tipped its hand with the upcoming release of Project Panama -- an updated paid-search ad system. The New York Times reported the upgrade took nearly two years and cost tens of millions of dollars, and took the work of 28 teams of people in three locations. Yahoo has a lot of catching up to do, as Google searches bring in 40% more money than Yahoo searches, according to one analyst. What will advertisers get from Panama? Geographic targeting and automated analytics, showing how well an ad is performing and how many more clicks a campaign might generate with higher bids. Yahoo doesn't expect to gain revenues from the new system until 2007, with a launch expected in the third quarter of '06."
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