IOD 2010: IBM simplifies predictive analytics for firms


IBM has launched new software that places predictive analytics in the hands of businesses with "three simple clicks".

IBM SPSS Decision Management, introduced at the IBM Information on Demand 2010 event in Rome, allows businesses to build a predictive model within a configurable web browser interface and run simulations.

These "what-if scenarios" compare and trial the best business outcomes before the model is even implemented into an operational system.

IBM is introducing a range of industry-focused solutions with the IBM SPSS Decision Management software as well, with the initial two concentrating on customer interactions and insurance claims.

With the former, firms can create a personalised experience for every inbound customer coming through the call centre, internet, point-of-sale or email. The software helps users identify who are the best targets for further interaction, such as up-sells.

The insurance service looks to tackle the problems of fraud and risk within the industry. An insurer using the software, combining business rules and predictive models, can set up processes to spot claims that seem suspicious and need to be followed up.

At the launch of the services, Michael Rodin, senior vice president of the IBM Software Solutions Group, explained that the new software forms part of the Smarter Planet strategy.

The solutions that make up this strategy are "literally going to change the way the world works", according to Rodin. He claimed that the business analytics portfolio IBM has been developing over the last five years is "untouched" and "unique in the world".

"No one has the same breadth and depth of capability," Rodin added.

Read on for more news from IBM's IOD 2010.

Tom Brewster

Tom Brewster is currently an associate editor at Forbes and an award-winning journalist who covers cyber security, surveillance, and privacy. Starting his career at ITPro as a staff writer and working up to a senior staff writer role, Tom has been covering the tech industry for more than ten years and is considered one of the leading journalists in his specialism.

He is a proud alum of the University of Sheffield where he secured an undergraduate degree in English Literature before undertaking a certification from General Assembly in web development.