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Friday, March 23, 2012

New Predictive Analytics Software from IBM

CIO Insights Reports reports about new Predictive Analytic Software and services from IBM.  I have thirty years of experience with the use of analytical methods to improve company decision making.   Analytical methods are fundamental to improving business operations.   First you need to understand the process involved and what its current performance is,  then gather data about the details of its operation, and then analytically model its performance, and predictively understand results that could be achieved by making fundamental changes.   We  used IBM software in the company to do this kind of analytics from the very beginning, so it is of particular interest to follow their new offerings.

These methodologies are particularly useful to address applications like fraud, resource utilization and allocation, supply chain cost minimization and profit enhancement.  They can be broadly applied in many industry segments.  They can  utilize new kinds and quantities of data available, from both public and private sources, that were never readily available in the past. The results can also be delivered to the decision makers at the point of use, using new mobile technologies, resulting in more accurate and efficient results.

What intrigues me further is the capability of using these new methods for solving problems that could have only been solved for the large enterprise.   Now this kind of capability is readily available to the mid sized company as well with advent of tailored consulting expertise and computing technologies.  The potential for these methods to initially predict simple changes, then  address complex possibilities,  and result in considerable revenue enhancement,  is considerable.   I quote from the article:

" ...IBM hopes to broaden the group of clients – specifically C-suite leaders – who can adopt analytics, extending IBM's position in the strategic market for business analytics. IDC estimates enterprises will invest more than $120 billion by 2015 to capture the business impact of analytics, across hardware, software and services.

These new capabilities target the agendas of global business leaders operating in a world of accelerating complexity, unpredictability and massively available information,” said Bridget van Kralingen, senior vice president of IBM Global Business Services, in a statement. “By integrating analytics into business processes and converting new insights into action, IBM is helping organizations transform big data from a threat into an opportunity, one that will be their most valuable natural resource. ...  ”

This post was written as part of the IBM for Midsize Business program, which provides midsize businesses with the tools, expertise and solutions they need to become engines  of a smarter planet. More on that here: goo.gl/VQ40Cg 

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