IBM: Analytics key in harnessing the power of big data
Decades into the Digital Age we see data getting bigger and bigger by the millisecond. Ever day there’s an equivalent of 2.5 quintillion bytes of data gathered from sensors, mobile devices, online transactions, and social networks. This is big data. It’s a treasure trove of information and organizations are struggling on how to use it in a meaningful way to improve products, services, or customer experience.
With such massive amount of data from various industries and sectors, the shift to IT analytics is a crucial business decision that is transforming decision-making for IT and business operations. IT analytics is slowly earning a huge chunk of an organization’s investment to drive decisions for IT and business operations.
By using predictive analytics, which harness the vast quantities of data, organizations can respond more quickly and accurately to customer needs, better anticipate and prevent outages and deliver fact-driven metrics to drive better business outcomes. Analytics can also make improvements across the software development and delivery lifecycle, further reducing cost, risk and time ot market.
The core of predictive analytics relies on capturing relationships between variables and past occurrences, and exploiting that information to predict future outcomes. Predictive analytics allows companies to move from reactive to proactive management which is pivotal to protecting existing revenues and expanding opportunities.
Today, IBM is well positioned to help leverage these new opportunities. IBM has Analytics Solution Centres around the world which enables them to meet growing client demand for advanced analytics capabilities as part of new, smarter business systems.
Business analytics is one of the fundamental drivers of IBM’s performance with focus on delivering higher value capabilities to clients. More than 200 IBM mathematicians focus exclusively on analytics. IBM has made a $1.7 billion acquisition of Netezza, Unica, Coremetrics, and Sterling Commerce which allows the company to gain the ability to help businesses quickly gain intelligence to social networks and online media sources and incorporate this insight into their overall marketing campaigns.
IBM projects $16 billion in business analytics and optimization revenue in 2015.