Using analytics to drive innovation in a data-centric world

Our world is inundated with data. There are more than 4.4 billion internet users and each one of them is generating a rich data trail. Organizations can use their operational and customer data to lay a strong foundation for their products and services, improve their customer experience, and more. Fortunately, you don’t have to sift through your data manually; powerful digital analytics platforms can automatically generate actionable insights for you.

Data: the ultimate tool

Gartner predicted that by 2017, the business world would be powered by data analytics. Today, data-centric businesses are using advanced analytics to consistently outperform their competitors. If your organization wants to compete in the digital economy, it needs to make future-oriented decisions nearly instantly. Data analytics solutions provide a perfect set of tools to help you compete.

From increasing revenue by offering better products and services to aiding suppliers and partners in making profitable decisions, you can use analytics in many powerful ways. A well-researched, strategic approach towards data analytics can aid in the digital transformation of your organization and create a more positive customer experience. If you use a data analytics platform to collect your business data and present valuable insights, then your employees can focus on using those insights to create plans and solve problems.

For example, you might use analytics to observe customer behaviour across physical and online sales channels. If you run a factory or manufacturing unit, data analytics can help you monitor the performance of the equipment, providing insights from a service point-of-view. Instead of keeping a manual check on all these factors, data analytics can help identify problems and suggest corrective strategies. These are just some of the ways that adopting an analytics solution leads to innovation, employee satisfaction, and business success.

IBM Analytics offers a helping hand

Global technology enterprises like IBM offer advanced analytics solutions to help you streamline the management and analysis of your business data and quickly generate precise and effective responses.

IBM Analytics technology helped TOTAL achieve near-real-time visibility of the condition of their oil wells. The global energy giant needed to predict “stuck pipe” situations – instances when an oil well’s drill pipe can no longer move. Through data analytics, the engineers were able to spot and address precursors to these problems, which sharply reduced their wells’ non-productive time.

Similarly, IBM deployed a solution built on the IBM InfoSphere Streams platform to help the University of Montana analyze 50,000 hours of EEG video in real-time. This data analytics technique sped up the detection of brain injury patients at risk of developing epilepsy by 80%.

Conclusion

This is just the beginning. With state-of-the-art machine learning and advanced analytics from IBM, you’ll have all the insights you need to drive innovation and thrive in an ultra-competitive market.