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March 20, 2012

IBM Targets Predictive Analytics Market

Three new products from IBM (News - Alert) aim to broaden its reach towards the analytics market in fraud detection, financial operations and customer service.

The new analytics offerings are a combination of consulting services and software that will use Big Data as its backdrop. IBM says Big Data is creating new priorities for C-level decision makers, and analytics will play an important role in helping them keep on top of these issues.

“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, IBM Global Business Services. “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.” 

The Signature Solution called Anti-fraud, Waste & Abuse can help companies protect themselves against emerging fraud. It embeds algorithms directly into business processes, and aims to detect fraud in real-time.

Next Best Action captures information from customers, records it, and adds to it information gathered via social networks, logged customer service interactions and Web click stream data.

From there, the analytics suggests the “next best action” to better target that specific customer.

The CFO Performance Insight allows businesses to collect financial information and cross reference it against already existing analysis, such as market data, financial reports and news stories. 

One big player utilizing the new solutions from IBM is Spring who, according to officials, can better analyze network data at a faster rate.

“We can now customize new products and services in real-time and respond instantly to changing market dynamics. The insights we gain from big data allows us to create and deliver new mobile applications in minutes, instead of hours, giving Sprint (News - Alert) the ability to stay well ahead of our competitors,” said Von McConnell, executive director of the Innovation and Advanced Labs at Sprint.

Edited by Jennifer Russell

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