IBM launches industry-specific Predictive Analytics
IBM has announced 20 new industry-specific predictive analytics packages, intended to allow organisations across industries like retail, banking, telecommunications, insurance and others, to uncover and act on critical business insights.
Each solution includes pre-built predictive analytic modelling patterns and interfaces for focused industry use cases, as well as data preparation capabilities to manage unique data and streamline collection and preparation of data for analytics.
With interactive and role-specific dashboards, business users can share predictive insights across teams and organisations that can give them a deeper understanding of their customers, assets and operations to help them make better decisions and act with greater speed and fewer resources.
"We are very excited to be working with IBM to develop a deeper understanding of our customers," said Kevin Dole, Head of Technology Services, at Bendigo and Adelaide Bank.
"We are continuing to advance our use of cloud based technology and exploring advanced analytics options so that we can provide an even greater level of service and value to our customers."
IBM cites examples of use cases such as:
- Banks using customer spending patterns to predict financial and life events and deliver more relevant offers;
- Retailers understanding the potential overall revenue impact of individual products and product lines to make smarter decisions about what products to carry and how to best promote them;
- Wealth management firms understanding behaviours associated with higher profit clients to determine who they should target and how to drive increased activity;
Oil & gas companies reducing high costs associated with inspections and maintenance of submersible pumps to predict outages before they occur and optimize production; and - Media & entertainment companies better understanding their audience and viewing behaviours to deliver advertisers higher value micro-segment targeting capabilities.
“We believe organisations need capabilities that enable greater speed and minimise the effort required to generate actionable insights,” said Alistair Rennie, General Manager of Analytics Solutions at IBM.
“This requires pre-built solutions that are tailored to address each industry’s unique challenges. With today’s news, IBM is putting powerful analytics in the hands of every business user to help them see patterns, pursue ideas and improve all types of decisions impacting their industry.”
The new analytics solutions from IBM provide out-of-the-box integration with IBM Customer Engagement solutions, enabling the insights to be used to drive what offers are sent to customers and what is displayed when they visit the website.
IBM Maximo Asset Management has also been pre-integrated, providing enhanced capabilities for work management, job plans, work order tracking, service requests and reporting. As potential equipment failures are identified, work orders can be generated automatically. Consultants from IBM Global Business Services can help clients implement and tailor the solutions to fit their needs and broader strategy.