Menu
INSIGHT: With Watson Analytics, finance revives its entrepreneurial spirit

INSIGHT: With Watson Analytics, finance revives its entrepreneurial spirit

"This is a different kind of engagement than IBM has ever had in the past with its end users."

It was an eclectic gathering at the IBM Analytics Vision 2015 conference in Orlando, Florida, where several hundred IBMers, partners, and customers came together to talk about finance, risk, and performance management.

The star of the show, however, wasn’t the latest in compliance reporting or fraud detection; it was the application of IBM’s self-service cognitive analytics tool, Watson Analytics, to everyday finance, sales, and incentive compensation problems.

Changing the rules of engagement in finance and operations

At the conference, I met many enterprises that have started on a journey to transform the culture of finance and operations.

Every day, finance professionals make incredibly complex decisions that require a deep understanding of volatile markets, shifting regulatory environments, and expanding risks.

But as anyone in the trade will testify, it’s getting difficult to evolve beyond bean counting given the plethora of mundane tasks that need to be undertaken.

Application of creative ideas has traditionally proved challenging in finance, with technology that remains rooted in the IT-led, schema-bound analytics era.

Early adopters at the conference included enterprises that were managing complex supply chains (manufacturing, retail) extending beyond their walls and into their customers and suppliers.

Healthcare was another sector where Watson Analytics appeared to be making significant headway.

The key takeaway for me from these customer discussions was not how Watson Analytics brought in new technology to solve age-old problems, but how the analytic goalposts themselves changed as end users directly engaged with an analytics solution.

Customers were using Watson Analytics to get started quickly on the cloud (ingesting their own data, mashing it up with organisational data), asking the second- or third-level-of-detail questions that are usually never asked (or disappear in an IT loop), and finally, acting on their newfound knowledge.

Organisations that had a significant footprint of IBM Analytics software were also finding Watson Analytics a much better way to engage with data, right from the boardroom to the trenches.

This is a different kind of engagement than IBM has ever had in the past with its end users.

Application in the world of finance proves that Watson Analytics will pass the acid test of even the most draconian of IT shops, while having the potential for “viral” adoption in its end-user base.

In a crowded market (exploratory analytics) where bigger actually does not mean better, IBM Watson Analytics is surprisingly giving younger vendors a run for their money.

By Surya Mukherjee - Research Analyst, Ovum

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags analyticsIBMWatsonbig data

Featured

Slideshows

Educating from the epicentre - Why distributors are the pulse checkers of the channel

Educating from the epicentre - Why distributors are the pulse checkers of the channel

​As the channel changes and industry voices deepen, the need for clarity and insight heightens. Market misconceptions talk of an “under pressure” distribution space, with competitors in that fateful “race for relevance” across New Zealand. Amidst the cliched assumptions however, distribution is once again showing its strength, as a force to be listened to, rather than questioned. Traditionally, the role was born out of a need for vendors and resellers to find one another, acting as a bridge between the testing lab and the marketplace. Yet despite new technologies and business approaches shaking the channel to its very core, distributors remain tied to the epicentre - providing the voice of reason amidst a seismic industry shift. In looking across both sides of the vendor and partner fences, the middle concept of the three-tier chain remains centrally placed to understand the metrics of two differing worlds, as the continual pulse checkers of the local channel. This exclusive Reseller News Roundtable, in association with Dicker Data and rhipe, examined the pivotal role of distribution in understanding the health of the channel, educating from the epicentre as the market transforms at a rapid rate.

Educating from the epicentre - Why distributors are the pulse checkers of the channel
Kiwi channel reunites as After Hours kicks off 2017

Kiwi channel reunites as After Hours kicks off 2017

After Hours made a welcome return to the channel social calendar last night, with a bumper crowd of distributors, vendors and resellers descending on The Jefferson in Auckland to kickstart 2017. Photos by Maria Stefina.

Kiwi channel reunites as After Hours kicks off 2017
Arrow exclusively introduces Tenable Network Security to A/NZ channel

Arrow exclusively introduces Tenable Network Security to A/NZ channel

Arrow Electronics introduced Tenable Network Security to local resellers in Sydney last week, officially launching the distributor's latest security partnership across Australia and New Zealand. Representing the first direct distribution agreement locally for Tenable specifically, the deal sees Arrow deliver security solutions directly to mid-market and enterprise channel partners on both sides of the Tasman.

Arrow exclusively introduces Tenable Network Security to A/NZ channel
Show Comments