I'm going to be live blogging the IOD 2011 Conference Opening General Session. (Check back here for updates, or follow along live at http://www.ibm.co/iod11 )
First speaker - Jeff Jonas, IBM Distinguished Engineer. Enterprise Amensia - having two pieces of information in the organization that aren't connected.
Organizations are getting dumber - increase in available information, but large gap between sensemaking algorithms
Major retailer found two out of every thousand people they hired had already been arrested for stealing... from the same store!
Analogy between trying to extract value from enterprise data and trying to do a jigsaw puzzle (with missing pieces, duplicates and "false negatives")
Big Data. New Physics
More data: better the predictions
Lower false positives
Fewer false negatives
More data: bad data... good
Suddenly glad your data was not perfect.
More data: less compute [the last few puzzle pieces to put together go faster than the first ones]
Sense and Respond --> Explore and Reflect
Closing thoughts - The most competitive organizations are going to make sense of what they're doing while there's still time to do something about it.
Sarah Diamond - Managing Partner, Financial Services, IBM Global Business Services. Firms must dramatically improve their levels of transparency and level of data and analytic capabilities to satisfy regulators, successfully manage risk and enable growth.
HP Bunaes - Senior Vice President Corporate Risk Management, SunTrust
In 5 years SunTrust made quantum leap in analytics.
Each region used to have to fend for itself. Now standardized reporting as a shared service
Used to use Excel and ccess, now Data Warehouse and Business Analytics
Intranet portal fo one-stop shopping and self-service.
Now put customer in center - everything produced is client relationship based.
No more tower of Babel problem - standard definitions and quality metrics.
Can now do in seconds what used to take days to do.
Managers and lines of business used to divert hundreds of people to create reports, now they can focus on growing their business.
One of lines of business was in auto finance. Could use tools and data to build sophisticated models on exposure to auto dealers at granular level. Similarly, exposure to homebuilders. Thanks to data, knew exactly what exposures where and knew strengths/weaknesses of every single builder. Allowed to mitigate risk. Residential mortgage business took a beating. Could use tools to isolate areas of stress... concentrated in a few narrow segments, while most of the business held up well. Informed loss mitigation strategies and could focus where stress was worst. And could provide that to analysts, investors and regulators.
Paul Edmisten, Senior Vice President, Corporate Business Intelligence and Analytics, SunTrust How take those capabilities and explore over Sun Trust. Transform to take analytics across company. Launched strategic initiative to differentiate based on analytics. What was series of siloed teams has come together under common operating model.
Analytical value = managed data + talented people x embedded analytics
All 28,000 people in company needs to understand value of data (down to the teller).
How use analytics: 1. Risk Analytics- Understanding/modelling risk 2. Finance Analytics- Increased value when overlay risk and finance analytics - e.g., risk-adjusted profitability. (Probability of default for given protfolio) 3. Operational Analytics- Call centers, lending operations, bank operations. Embedding analytics inside of workflow systems and imaging. Can be smarter in how process loans, be more effective and sensitive to clients' specific needs. Or can use to determine where to place ATMs. 4. Client Analytics - e.g., Amazon knows what you want to buy next... want to understand full relationship to better offer, bundle products.
Video highlighting benefits seen by companies like Directv and Pepsi
SVP IBM Software Solutions Business Group - Mike Rhodin Outcomes that are possible when harness information and make it work for you instead of against you. Innovation across industries is opening new possibilities for business optimization. Analytics create a competitive advantage. More organizations see analytics as competitive advantage. 57% increase in organizations citing it as an advantage over same survey in 2010. Organizations competing on analytics substantially outperform their peers - by 220%. 60% of CEOs agree they have more data than they can use effectively. The performance gap is widening - Organizations that apply advanced analytics achieve more profit growth - 12x
Opportunities for analysts exist across the business: 71% of CMOs see data explosion as having the biggest impact 25% of CHROs using analytics to make future workforce decisions 74% of CFOs see a need for faster decision making.
By embedding analytics into the fabric of your business processes, businesses can anticipate and shape business outcomes.
Becker Underwood - 50% increase in inventory turns. (They were making decisions based on rearview mirror. Now can make more accurate predictions to better manage inventory. More timely and accurate raw material orders.)
JM Family Enterprises - $2.1M annual call center savings
Santam Insurance (South Africa) - Saved $2.4M in just 4 months, improved claims processing by 70%. Automatically scored each claim based on risk level and moved on to appropriate group to process. Identified pattern of fraud by major crime syndicate in first 4 months, leading to $2.4M in savings.
Vivo (largest mobile provider in southern hemisphere) - Reduced campaign execution time by 86% by use of Unica.
Algorithmics - IBM closed acquisition last week. Financial risk management - 4,000 risk factors monitored.
SVP Middleware Software, IBM Software Group - Robert LeBlanc Possibilities today - Information from everywhere, radical flexibility, extreme scalability We need to adapt to these changing set of requirements. Key question: Is your information strategy bold enough?
Are you prioritizing and delivering specific business outcomes in your industry
Are you applying the right technology?
Do you have a proactive partnership between business and IT?
Have you made an investment in innovation, skills and IT efficiency?
Has your organization made a lasting commitment to strategic/cultural change?
Think about the platform you have that supports information, that supports what you're trying to do around analytics and information in your org.
HealthNow - needed one view of the client. Now provide better care and are saving $5M a year.
Hennepin County (Minnesota). Improving child welfare and saving $2.5M annually. Integrated case management, across paper and electronic. Now case workers have infor they need and can spend more time in field with clients.
Pacific Northwest Smart Grid - $178M smart grid project. Tapping into new information sources.
GM, Information Management Software - Arvind Krishna How harness info to turn into insights and turn insights into increasing revenue and profits. The key is turning insight into action.
Announcements this week: DB2 Analytics Accelerator - leveraging Netezza. Improving speed of queries by 10-100 times IMS 12 - doubling performance to 60k transactions per second Both reduce cost of managing data
IBM Content and Predictive Analytics for Healthcare - natural language processing, speech, info from diverse sources. IBM Case Manager v5.1 - bringing together case management and business process management
InfoSphere MDM10 InfoSphere Information Server 8.7 InfoSphere Optim Test Data Management Self Service Center --> Reduce time it takes to get capabilities into production.
Cognos with native iPad support (search Apple App Store for Cognos Cognos BI v10.1.1 - Speed and Flexibility Sneak peek in the labs - Analytics go Personal (breakthrough analytics performance on the desktop)
Algorithmics - address market, credit, operational and liquidity risk
Q1 Labs - pending acquisition - managing security
InfoSphere BigInsights and InfoSphere Streams - bring together any data source, at any velocity, to generate insight; enterprise class platform to enable creative discovery
BAO Jumpstart Services - driving deep insights from over 2,000 client workshops that have done.
Trident Marketing Increases Revenue 1,000% with Predictive Analytics
Thu, May 9th 2013 7:17a Adam Gartenberg A few weeks back I attended the IBM Big Data, Integration and Governance Forum in Charlotte, NC. (If you haven't made it to one yet yourself, we've got more of these events coming up in a number of cities in the US and around the world.) It's always good to hear our executives speak about how IBM is approaching the area of Big Data, the type of use cases that we're seeing businesses focus on, and learn more about the latest innovations in the fields of Information Integration and DB2 wit [read] Keywords: ibm
IBM X-Force Trends: Data Breach Issues and Solutions (Upcoming Webcast)
Wed, May 1st 2013 4:17p Adam Gartenberg If you are an IT security, compliance and data management professional, you're likely working harder than ever to secure your enterprise against both internal and external threats. If you'd like to get a better look into recent public vulnerability disclosures and understand the lessons that can be learned from those situations, you'll want to check out the upcoming Dark Reading "IBM X-Force 2012 Annual Trend Report: Data Breach Issues and Solutions" webcast. (May 9, 2pm ET) Join Ro [read] Keywords: ibm
Reminder: Big Data at the Speed of Business Broadcast (4/30)
Wed, Apr 24th 2013 1:16p Adam Gartenberg As a reminder, we'll be holding a broadcast next Tuesday, April 30th, where we'll be discussing details on the recent DB2 with BLU Acceleration and Big Data Platform announcements. The event will feature General Manager Bob Picciano, VP of Development Martin Wildberger, VP of Product Strategy Inhi Suh, as well as first-hand experiences shared by a client panel and a Q&A session. The broadcast will be held at two times, 11am-12pm EDT and 9pm - 10pm EDT, and you can register here. [read] Keywords: ibm
Announcement Review: IBMâs New Moves in Big Data
Thu, Apr 11th 2013 9:18a Adam Gartenberg Joe Clabby of Clabby Analytics has posted his first take on the DB2 and Big Data announcements we made last week. You can read his full write-up here: IBMâs New Moves in Big Data: Acceleration, Optimization, and an Open Source Alternative (pdf) IBMâs New Moves in Big Data: Acceleration, Optimization, and an Open Source Alternative IBM Almaden Labs, San Jose, CA, April 2, 2013 In a major, multi-faceted announcement, IBM announced yesterday that it will soon deliver âspeed-o [read] Keywords: ibm
New Ad: Big Data and Analytics
Mon, Apr 8th 2013 9:15a Adam Gartenberg Here's a new ad on Big Data and Analytics that will be debuting on TV at the Masters golf tournament this week: More: Big data and analytics can help predict trends down to the customer. Sales down to the shelf. What can big data and analytics do for you? Learn more at http://ibm.co/10x97Xc [read] Keywords: ibm
Two opportunities to learn more about the Data Mgmt and Big Data announcements
Thu, Apr 4th 2013 6:18a Adam Gartenberg If you'd like to learn more about all of the Data Management and Big Data announcements made yesterday, we've got two great opportunities coming up. First up is a Google Hangout Video Chat this Friday, April 5, starting at 2pm US-EDT. During the chat you'll hear from panelists Jeff Kelly (Wikibon), James Kobielus (IBM), Mike Martin (BTRG) and others. Head on over here to learn more and RSVP. The second opportunity will be to join us on April 30th for a broadcast event featuring Genera [read] Keywords: ibm
Information On Demand 2013: Call for Speakers
Wed, Apr 3rd 2013 9:16a Adam Gartenberg Session proposals for this year's Information On Demand conference will be accepted from April 4th - 30th, so if you have an interesting story to share about products, solutions, or implementations, please head on over and submit a proposal. IT professionals, including managers, architects, and developers should submit proposals for technical sessions across Information Management, Business Analytics and Enterprise Content Management. C-suite executives and senior decision makers in Line [read] Keywords: ibm
NY Times: Why Big Data Is I.B.M.âs Friend
Wed, Apr 3rd 2013 9:16a Adam Gartenberg The Bits blog in today's NY Times highlights some important news on Big Data that IBM is sharing today while also describing why Big Data is so important to the businesses that IBM works with (and why IBM in turn is putting so much investment into related technology.) Case in point: I.B.M. just announced a series of technologies intended to make data analysis faster and more powerful. That is probably good news to Big Blueâs core customer base of large corporations, which are increasin [read] Keywords: ibm
From Big Bang to Big Data: ASTRON and IBM Collaborate to Explore Origins of the Universe
Thu, Mar 14th 2013 11:09a Adam Gartenberg "The SKAâs [Square Kilometer Array's] more than 500,000 antennas scattered across southern Africa and Australia will produce a torrent of data thatâs equivalent to 10 times the daily global Internet traffic." IBM continued to push the push forward the cause of Big Data this week with an ambitious initiative: better understanding the origins of the universe. It's one that will require the latest approaches to extracting value from big data. The quote above comes from [read] Keywords: ibm