IBM Demonstrates New Analysis Packages

IBM (News - Alert) recently announced three new packages of software and services it will be releasing to give businesses more strategic intelligence regarding their data, which will give them a higher turnover and increase their efficiency. These new packages, known as "signature solutions," promise to give you more than other competing analysis solutions by sniffing out fraud attempts, predicting how customers will interact, and estimating how risky the next step will be, financially speaking.

Deepak Advani, IBM's VP of predictive analytics, said, "Having software is important but having industry expertise and domain knowledge is also pretty essential." IBM's development of these solutions comes from different experiences it has encountered while installing this kind of software for its current client base.

During the time that IBM's been hooking up its clients with these systems, the company's been seeing a kind of pattern in the challenges different businesses face, according to Advani. The packages offered by IBM will take from what the company learned by deploying systems in client companies and also grab a little from the research it's done, along with software like SPSS, Clarity (News - Alert), Cognos, and WebSphere.

The first package, used for fraud detection, will help companies like insurance providers, health care firms, and government institutions in spotting customers that attempt to circumvent company policy and siphon money with claims. The organizations mentioned previously often experience fraud and already have their own ways of detecting it. However, they tend to spot this when they've already lost money. IBM can just sniff that stuff out without costing the company a dime.

The second package gathers data on customer interactions with the business (i.e. what they buy the most, among many other things) and tells a business what it should do next, or what the customer might want to look at after this based on what has already been consolidated from the data. Telecom companies benefit most from this, since they can figure out what would make a customer want to stop using their services, letting the company come up with something that would work for both the customer and the business, keeping the rapport going and establishing a healthy customer-friendly relationship.

Finally, we have the last package, which tells a company about the financial risks it's taking. CFOs and other executives that deal a lot with finances will just love this nifty too. The system will analyze a company's previous history and performance with particular departments, crunch all the numbers, and come up with a figure detailing what risk a company has in making its next move.

IBM has already demonstrated this package in its Smarter Analytics Leadership summit in New York and London.