March 20, 2012, New York City – IBM today released a line of Smarter Analytic Signature Solutions, new software and consulting services to address areas of Anti-Fraud, Waste and Abuse, CFO Performance Insight, and Next Best Action for customer engagement. The release came at the company’s Smarter Analytics Leadership Summit in New York.
Bridget van Kralingen, IBM’s SVP, IBM Global Business Services, says the solutions are targeted at C-suite decision-makers and aim to integrate and embed analytics in ways that transform big data from threat to opportunity. IBM claims it has conducted 20,000 analytic projects throughout the world.
“These [solutions reflect] projects we have done over and over and over again with clients, the patterns, the assets and the learning, to improve outcomes for our clients,” said van Kralingen. “We’ve expanded our consulting capability and networked it to IBM’s very broad technology talents required to do this for our clients.”
The Anti-Fraud, Waste and Abuse solution embeds advance algorithms into business processes to detect fraud in real time. IBM cited Infinity Insurance, which uses IBM analytics to look at historic data and reduce time needed to identify fraudulent claims from 14 days to 10 hours.
“It looks at referential as well as very unstructured data and makes recommendations for when to hold a payment so something can be explored,” said van Kralingen.
The CFO Performance Insight solution is meant to address a boom in financial information, which IBM says is growing at 70 percent per year. The solution cross references analyst and board reports, market data, news and finance documents with predictive metrics for key performance indicators.
Finally, the Next Best Action solution matches enterprise records of customer histories with interactions, sentiment analysis and click stream data to determine effective offers for new and returning customers.
Von McConnell, executive director of the Innovation and Advanced Labs at Sprint, spoke at the summit and said Sprint is analyzing data 90 percent faster than before and customizing products and services in real time. Sprint uses IBM’s big data technology platform, which includes Hadoop, stream computing, data warehouse and information integration and governance.
IDC predicts enterprises will invest $120 billion by 2015 on hardware, software and services to capture the business impact of analytics.