For Big Data to become an accepted and integral part of enterprise operations, a base of applications has to be developed that are vital to the organization’s functioning.
IBM is doing its part. The company has just introduced predictive analytics software and services that forecast asset failure. For example, the new offering can help C-level executives predict and prevent “damaging supply chain disruptions.”
In the equine world there’s a saying, “No hoof, no horse.” In the business world that could be rewritten as “No supply chain, no company.” IBM’s new solution collects Big Data from all manner of instrumented assets. It then uses its analytic capabilities to spot product irregularities and problems in the manufacturing process and alert the company to potential performance risks before problems even surface.
IBM points out that working with assets throughout their lifecycle is an expensive and risky business characterized by unexpected, catastrophic machine failures. When your equipment goes down, millions of dollars are at stake, not to mention customer good will. This Big Data-based solution allows you to anticipate those failures so you can devise proactive solutions that will eliminate or minimize potential trouble spots.
The world is entering a new era of smart – where decisions will be based on facts, data, and increasingly on the ability to apply analytics to massive data sets and extract very precise business insights,” says Fred Balboni, senior partner, Big Data Analytics, IBM Global Business Services. “Companies realize they have a new opportunity to capitalize on big data to address some of the intractable issues of the past, drive new levels of business efficiency, and create new levels of value for their customers. Our data shows us that businesses that are applying analytics to structured and unstructured data are outperforming their competitors in every industry.”
The new offering, says IBM, is designed to help clients in the automotive, electronics, aerospace, defense, manufacturing, mining, transportation, telecommunications, and energy and utilities industries.
Its capabilities are being offered through IBM’s Predictive Asset Optimization solution and is implemented by IBM business consultants, supported by applications management services, and cloud offerings. Support is provided by IBM’s Big Data technology platform that includes Hadoop, stream computing, data warehouse, and information integration and governance capabilities, along with visualization and discovery, application development, systems management and industry accelerators.
Read the Full Story.