IBM launches industry-specific predictive analytics solutions

Drawing on the analytics expertise form over 50,000 client engagements, IBM has launched 20 new industry-specific solutions with predictive analytics capabilities specifically for organisations in the retail, banking, telecommunications, and insurance industries.

To maximise the accuracy of predictive insights, IBM is working with clients and partners who innovate in the use of advanced analytics, such as Urban Outfitters, National Grid, Deloitte, Bolsa de Santiago, and Interactive Data Managed Solutions.

According to IBM, each solution includes pre-built predictive analytic modelling patterns and interfaces for focused industry use cases, as well as data preparation capabilities to streamline collection and preparation of data for analytics.

The solutions also provide interactive and role-specific dashboards, which enable business users to share predictive insights across teams and organisations to gain deeper understanding of their customers, assets and operations.

For example, the solutions can help banks to use customer spending patterns to predict financial and life events and deliver more relevant offers; oil and gas companies reduce high costs associated with inspections and maintenance of submersible pumps to predict outages before they occur and optimise production; and media and entertainment companies better understand their audience and viewing behaviours to deliver advertisers higher value micro-segment targeting capabilities.

“We believe organisations need capabilities that enable greater speed and minimize 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.”

Australian financial institution Bendigo and Adelaide Bank is one of the customers working with IBM on the industry solutions, with the aim of gaining a deeper understanding of its own customers.

“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,” said Kevin Dole, head of technology services, Bendigo and Adelaide Bank.

The analytics solutions are integrated with IBM Customer Engagement solutions and IBM Maximo Asset Management.

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