Giving Business Users ‘Three Clicks’ to Smart Decision Making
June 30th, 2010IBM today unveiled new software that places the power of predictive analytics directly into the hands of business users for faster, more insightful decision making.
With three simple clicks, business users can now build a predictive model within a configurable web browser interface, and run simulations and “what-if” scenarios that compare and test the best business outcomes before the model is ever deployed into an operational system. Business users now have full control over the analytic process, enabling them to make accurate decisions in real-time, based on changes in strategy, customer buying patterns and behaviors, or fluctuating market conditions.
Starting today, IBM is delivering a new, configurable offering for the insurance industry, and another for marketing organizations within all business verticals. The first is designed to help identify fraudulent insurance claims, which account for approximately $30 billion in losses a year. The second manages every inbound customer and prospect interaction via call center, web, point-of-sale or email.
The new software, IBM SPSS Decision Management, combines predictive models, business rules and optimization to increase an organization’s confidence to automatically deliver accurate, high-value, high-volume decisions at the appropriate point of customer interaction.
For example, a retailer may need to decide which customers should receive information about a new line of products. The marketing manager can quickly build a model to identify the customers likely to respond – based on past purchasing patterns, demographics, responses to previous offers – and include those customers in the new product campaign. However, before deploying the results the business user can first “tweak the dials” using a simple web interface, and run what-if scenarios on the results. This ensures the campaign will yield optimal results by targeting only high-value customers.
For more information, visit ibm.com.