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IBM Introduces Smart Analytics System

Originally published July 28, 2009

IBM announced it is taking the next big step with business analytics with the introduction of a new comprehensive system which will help organizations make more accurate decisions and take action to reach specific business goals with greater precision'

With today's news, IBM's expansion of its business analytics capabilities helps clients move beyond "sense and respond" mode, which can leave blind spots – to "perceive, predict and perform" to ultimately improve the quality of organizational decision making for smarter business outcomes.

The IBM Smart Analytics System combines IBM hardware, software, services and storage capabilities in a simplified platform to meet an emerging market for analytics that will help forecast business trends and enable clients to see 'around the corner' to make more accurate decisions. Now, clients will be able to visualize the relationship between diverse, structured, unstructured and incompatible data sources that require complex calculations and processing massive amounts of workloads for a desired business outcome.

Unlike other systems that are built with piece parts, its performance in visualizing and analyzing terabytes of complex data with large scale workloads is significantly more accurate. The new system specifically designed for analytics help businesses reach their specific goals which require crunching extensively high volumes of data for never before seen levels of accuracy vs. the existing approach of managing aggregate data. For example, with this technology a mortgage company can now analyze 20 years of mortgage data to spot trends such as the increase of defaults on loans in specific regions of the country. With this information, they can now analyze and draw conclusions of the cause i.e. incremental job losses and make decisions on how they can work with families to modify monthly payments in order for them to stay in their homes.

Earlier this year, IBM established Business Analytics and Optimization Services organization with more than 4,000 consultants teaming with IBM Research’s world renowned laboratories and its 200 mathematicians and advanced analytics experts. The company also is establishing a network of Analytics Solution Centers around the world.

IBM consultants in the analytics practice bring vital business insight to clients enabling them to interpret the findings and linking those to more predictive business decisions and outcomes. Combining IBM's consulting expertise with the new Smart Analytics System will help usher in a new era of much more accurate, faster analysis of complex transactions for greater precision in predictive outcomes. With this system, IBM consultants can identify scenarios with clients based on deep understanding their business to solve a problem or understand a new business opportunity which may require managing large scale workloads with extensive computations.

With IBM's expertise in software, hardware, research and service, the company is uniquely positioned to help clients with its industry know-how to apply analytical expertise that will help businesses improve organizational decision-making and act on those decisions to capture new opportunities.

IDC estimates that the market for business analytics software will swell to $25 billion this year, growing 4% over 2008. Much of this sudden demand for analytics is also being driven by new stimulus investments in areas such as financial risk management, smart grids, electronic medical records and management of healthcare costs, education, identity theft and fraud as well as food safety.

As business analytics becomes more pervasive, IBM also plans to extend its cloud services to include a range of business analytics tools in the next 6 months, also known as Cloud Analytics, IBM's cloud analytics capabilities are designed to host and analyze massive loads of data over the Internet and deliver answers that help business customers make better decisions in real time.

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.