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Insurance Technology - IBM Simplifies, Customizes Predictive Analytics Software

May 19, 2010

By Brendan B. Read

IBM has come out with new predictive analytics software that with three simple clicks, business users can now build predictive models within configurable Web browser interfaces, and run simulations and “what-if” scenarios that compare and test the best outcomes before the models are ever deployed into operational systems.

The IBM SPSS Decision Management solution gives 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. The new product has two versions: one that manages customer interactions via contact center, web, point-of-sale or e-mail and the other specifically designed to help identify fraudulent claims in the insurance industry, which accounts for approximately $30 billion in losses a year.

Navy Federal Credit Union Enhances Customer Service with Predictive Analytics

Source: Creditloan.com
By: Michael B Nash

26 May 2010

New technology is being used by Navy Federal Credit Union to find out what people think of them and to plan their next moves. The software is called IBM SPSS Modeler and was developed by SPSS, a technology development company that was acquired by IBM in late 2009. The basis of the process is predictive analytics, which uses all kinds of data from the Internet, including websites, reviews, and social media.

With over 3 million members, Navy Federal Credit Union is the largest credit union in the world. They have used the process to increase customer satisfaction and to enhance member services.

IBM moves Predictive Analytics into new era by giving business users “three clicks” to smart decision making

IBM Press Release

19 May 2010

~ unveils new software that automates the ideal course of action for millions of high-value, high-volume decisions ~

IBM 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.

IBM Text Mining Upgrade Is Social Media Savvy

By Doug Henschen: InformationWeek

11 May 2010

New taxonomies make predictive analytics hip to Twitter slang and vertical-industry jargon.

Does your text mining tool understand emoticons? The latest IBM SPSS Modeler 14 Premium Edition does. It also understands other forms of Twitter, blog and wiki speak and generational slang. Announced today, the upgrade also makes sense of jargon in vertical industries covered by 180 new taxonomies added with the release.

IBM SPSS is not new to text mining. Rosetta Stone, the provider of CD- and online-language-learning courses, uses IBM SPSS software to analyze answers to open-ended questions in surveys of current and potential customers. Rosetta Stone and other customers, including Money Mailer and the Navy Federal Credit union, correlate text analysis with structured data such as product information and transaction records to drive decisions on advertising, marketing and product development.

IBM sees biz analytics market growing sharply

11 May 2010

Source: The Economic Times

THIRUVANANTHAPURAM: The twin troubles of information overload and the increasing difficulty in arriving at actionable information based on data analysis is opening up a robust market for business analytics solutions, according to officials at the IBM Software Group.

Country manager of IBM Software Group in India/South Asia for information management, Nitin Singhal says there is increasing awareness and demand for business analytics capabilities in sectors like banking and financial services, insurance, manufacturing and ITES.

Insurance Technology - IBM Simplifies, Customizes Predictive Analytics Software

Navy Federal Credit Union Enhances Customer Service with Predictive Analytics

IBM moves Predictive Analytics into new era by giving business users “three clicks” to smart decision making

IBM Text Mining Upgrade Is Social Media Savvy

IBM sees biz analytics market growing sharply

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