Shanker Annaswamy
MD, IBM India Pvt. Ltd.
IBM has launched a new predictive analytics service offering aimed at improving company's fraud detection, financial operations, and customer management.
Today, organisations are being challenged by an increasing volume and variety of data. By addressing business challenges, this data has the potential of creating immense possibilities for new innovation, improved agility, and increased profitability. However, this potential can be realised only when the organisations have the tools to capture, store, integrate, manage and analyze this data.
Pulling together software, services and hardware, IBM has expanded its multi-billion dollar investment business analytics to address three vital client issues - fraud detection, financial operations and customers service- and help organisations increase revenues. These new solutions, known as IBM Smarter Analytics Signature Solutions, are based on experiences drawn from more than 20,000 analytics engagements and combine innovations developed by IBM research with new predictive technologies from dozens of companies Big Blue has acquired. Speaking a symposium organised by IBM in Bangalore, Shanker Annaswamy, MD, IBM India Pvt. Ltd. says, "Data is growing exponentially and it is high time that we re-think how we capture, store and manage data. 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."
According to a new IDC report the business analytics (BA) software market in the Asia/Pacific excluding Japan (APEJ) region has grown by 20.1% to be worth US$2,479.1 million in 2011, despite a backdrop of increasing global volatility. The BA software market is expected to touch the $3bn mark by 2013. Overall, the market is forecasted to grow at a 5-year CAGR of 12.3% to reach US$4,432.7 million in 2016. Enterprises will invest more than $120 billion by 2015 to capture the business impact of analytics, across hardware, software and services.
From a business initiative analytics has become a business imperative. According to a study published by the IBM Institute for Business Value in collaboration with MIT Sloan Management Review, companies are embracing analytics as a means to drive competitive edge. The study shows that the organisations implementing analytics are 2.2 times more likely to substantially outperform industry peers. And they are 86% more likely to have information management and business analytics integrated into their core business.
