Ushering in a New Age of Enlightenment
Timothy Powers 270003F3FN email@example.com | 2012-04-05 17:11:38.0 | Tags:  business-analytics analytics big-data smarter-analytics | 0 Comments | 2,921 Visits
In 18th century Europe, a group of intellectuals seized control of reason to challenge the systems of power and faith.
This Age of Enlightenment, according to German philosopher Immanuel Kant, was “the emancipation of the human consciousness from an immature state of ignorance and error."
If Kant was living today, he would proudly make the same bold statement about analytics.
The world of analytical thought has created a societal shift from gut and intuition to fact-based decision-making. In this “New Age of Enlightenment” analytics unshackles the stubborn mind to process and visualize information in an entirely new way. It provides structure to the chaotic world of big data to harness and draw insight from the volume, velocity and variety of information that was once unattainable.
Analytics has also given way to a new generation of “philosophers” who have the remarkable ability to reason with data and see into the future – to predict crime, identify fraud, anticipate car part failures, lower mortality rates, or determine when someone might need a new coat or shoes.
And while there are still traditionalists who believe important business decisions can be made from a simple spreadsheet, the recent MIT Sloan Management Review and IBM Institute for Business Value study, “Analytics: The Widening Divide,” confirms that organizations with analytics are 260 percent more successful than analytic beginners.
This gap proves that analytical thought has become a sense of urgency – a business imperative – to capture the never-ending, and growing, streams of “big data” and turn it into big opportunity by integrating and analyzing it, and then embedding those insights into every business process to create a culture of analytically-driven, collaborative decision makers.
This is why IBM launched Smarter Analytics, a holistic approach that turns information into insights and insight into business outcomes. IBM Smarter Analytics helps organizations align all their data assets, make it accessible to all people to see all perspectives of the analysis, and then inject that insight into all decisions of the organization – from routine tactical decisions to the most strategic.
IBM Smarter Analytics is shaping this “New Age of Enlightenment” by not only improving organizations, but by transforming entire industries.
Based on experiences drawn from more than 20,000 analytics engagements, IBM is now offering consulting services and software that directly impact those issues that keep C-level executives awake at night – managing financial risk, decreasing fraud and accelerating customer intimacy.
The new IBM Smarter Analytics Signature Solutions help businesses answer the following questions:
· How can we increase customer loyalty with every interaction?
· How can we improve the visibility and control over financial performance?
· How can we detect fraudulent behavior and suspicious claims while improving customer service?
For example, Santam, a leading insurance provider in South Africa, has been able to predict fraud to the value of $2.4 million and increased customer satisfaction by reducing claims handling to 48 hours. Watch video. Or, the University of California, through better management of its financials, reduced its cost of risk and saved more than $493 million over six years. Watch video.
It’s these customer examples, among many, that make this an exciting time as we enter a new age of computing that helps us better understand the world around us today… and the smarter planet of tomorrow.
For more information:
· Listen to the replay of the IBM Smarter Analytics Leadership Summit