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IBM unveiled 20 new industry-specific offerings to deliver behavior-based predictive analytics to various industries.
The new solutions with pre-built predictive analytics capabilities will make it easier and faster for companies across industries like retail, banking, telecommunications, insurance and others to find and act on business insights.
This first set of solutions addresses the needs of retailers, banks, wealth management firms, the oil and gas industry, and the media and entertainment industry. IBM is working with customers and partners across various industries, such as Urban Outfitters, National Grid, Deloitte, Bolsa de Santiago, Interactive Data Managed Solutions, and Bendigo and Adelaide Bank, among others, to help hone the focus of the solutions for each industry.
“We believe organizations need capabilities that enable greater speed and minimize the effort required to generate actionable insights,” Alistair Rennie, general manager of Analytics Solutions at IBM, said in a statement. “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.”
Big Blue’s new offerings draw on the company’s analytics expertise from more than 50,000 client engagements. Each solution includes pre-built predictive analytic modeling patterns and interfaces for focused industry use cases. They also feature data preparation capabilities to manage data and streamline the collection and preparation of data for analytics. In addition, the solutions offer interactive, role-specific dashboards to enable users to share predictive insights across teams.
The offerings are designed to help users in the retail industry to understand 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. Banks can use them to watch customer spending patterns to predict financial and life events and deliver more relevant offers. Wealth management firms can use them to better understand behaviors associated with higher profit clients to determine who they should target and how to drive increased activity.
Meanwhile, oil and gas companies can tap the solutions to reduce the high costs associated with inspections and maintenance of submersible pumps to predict outages before they occur and optimize production. And media and entertainment companies can use the solutions to better understand their audience and viewing behaviors to deliver advertisers higher-value micro-segment targeting capabilities.
For instance, financial information and technology firm Interactive Data will be using its financial information platform with the new IBM industry analytics solutions to deliver more mature solutions to its wealth management clients. The solutions will help Interactive Data provide more personalized services to its customers by turning huge amounts of structured and unstructured data into personalized actionable information and making it available at any point in time to advisors and investors.
“Smarter decision making and hyper personalization are at the core of IBM’s new industry analytics solutions,” Joachim Lauterbach, president of Interactive Data Managed Solutions, said in a statement. “Combining client data, market data and product data with predictive analytics and intelligence in the solution allows us to provide financial institutions with a level of customer insight and service never before accessible to advisors or self-directed investors.”
IBM said its new analytics solutions also 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 to provide work management, job plans, work order tracking, and service requests and reporting capabilities, IBM said.