As analytics capabilities extend beyond the traditional business intelligence systems, leading organizations are analyzing data in new and varied ways to distance themselves from the competition. Those that adopt a full range of analytics capabilities can discover what is happening, determine why it is happening, predict what is likely to happen, and prescribe the best action to take.
Research shows that outperforming organizations use analytics pervasively. According to a study conducted by IBM and MIT Sloan Management Review (2011), companies that harness the power of analytics are 2.2 times more likely to outperform their peers. Yet as business leaders and organizations strive to capture the benefits of analytics, many lack a clear strategy—or simply do not know how to begin.
Where to begin
Advanced analytics solutions from IBM and Sirius may be just what you need. This solution enables the discovery of patterns and trends in structured and unstructured data that organizations can use to predict the outcomes of future events and interactions. With advanced analytics, an organization can adjust its plans and strategies to become more competitive, minimize potential risk, and make the best decisions in real time. IBM advanced analytics software solutions help every type of organization perform deeper analysis and improve decision-making:
- Businesses attract customers, strengthen their loyalty, identify and prevent fraud and reduce risk.
- Public sector organizations evaluate program effectiveness and proactively respond to public safety issues.
- Educational institutions improve classroom performance, increase retention rates and support institutional advancement.
- Industrial operations predict equipment failure, avoid costly downtime and reduce maintenance and warranty costs.
In a nutshell, advanced analytics provides a more vivid picture of the business and the forces that affect it – no matter what business you are in. Advanced analytics solutions help by:
- Reducing the time between insight and action
- Empowering people at every level to act with confidence
- Enabling decision makers to find their own answers
- Revealing answers to questions you never thought to ask
Want to learn more about using advanced analytics solutions to spot new opportunities and risks, fuel innovation, and identify patterns that reduce risk? Watch the Analytics demonstration video to learn more.