NAV Service Error on SQL Server

All,

Lately my users have been noticing significant performance issues where the system delays during refresh or the screen goes gray and comes back. So I went into the SQL server to see if any errors existing and to my surprise, there was 140 errors per hour being recorded by the SQL server coming from the NAV Service. The issues starting happening about one week ago but both my developer and I cannot pin point specific code or automatation that is causing this error. Furthermore, this error is coming every 2 mins then again in 9 mins then again every 2 mins. The error message is below:

Type: System.Runtime.InteropServices.COMException
ErrorCode: -2147221164
Message: Retrieving the COM class factory for component with CLSID {CD4D86E3-C704-4D20-AB91-D2BACDF6964B} failed due to the following error: 80040154.
StackTrace:
at System.RuntimeTypeHandle.CreateInstance(RuntimeType type, Boolean publicOnly, Boolean noCheck, Boolean& canBeCached, RuntimeMethodHandle& ctor, Boolean& bNeedSecurityCheck)
at System.RuntimeType.CreateInstanceSlow(Boolean publicOnly, Boolean fillCache)
at System.RuntimeType.CreateInstanceImpl(Boolean publicOnly, Boolean skipVisibilityChecks, Boolean fillCache)
at System.Activator.CreateInstance(Type type, Boolean nonPublic)
at Microsoft.Dynamics.Nav.Types.NavAutomationHelper.CreateAutomationObject(Guid classId, String licenseKey, Boolean newServer)
at Microsoft.Dynamics.Nav.Runtime.NavAutomation.Create(DataError errorLevel, Boolean newServer, Boolean clientSide)

Source: mscorlib

PLEASE HELP AS THIS IS A BIG ISSUE NOW.
NAV 2009 R2

Thanks,
Rob

Usually this kind of error is related to component registration (COM component not registered) or due to a 32 bit executable on a 64-bit machine.

Maybe this link can be useful: http://toddmcdermid.blogspot.it/2009/10/quick-reference-ssis-in-32-and-64-bits.html