LAS VEGAS: Even non-profit organisations like zoos are able to make more money with the use of IBM's business analytics solutions.
Cincinnati Zoo, the second oldest zoo in the US and attracts between 1.2 million and 1.3 million visitors annually, has seen US$500,000 (RM1.55 million) higher revenue and efficiencies through this.
Those who are using Business Analytics are experiencing a 33 per cent more revenue growth and 12 times more profit growth, senior vice-president of IBM Software Solution Group Mike Rhodin said.
Business Analytics basically uses data and statistics to make a prediction.
"The gap is widening between those who use analytics as a competitive advantage," Rhodin said during his presentation at the 2011 IBM Global Information on Demand and Business Analytics Conference attended by some 11,000 delegates.
He said that business growth is a result of both the widening of the pie as well as taking away a competitors market.
During the conference, IBM also unveiled new software that will bring the power of managing and analysing big data to the workplace.
This enables any employee from any department inside an organisation to explore data such as Twitter feed, Facebooks posts, weather data and even work on off-line during a flight.
iPad users can now enjoy mobile analytics by downloading a free software at Apple's iTunes Store: http://bit.ly/r68A04.
The new software is designed to help employees in key industries such as financial services, healthcare, government, communications, retail, and travel and transportation use and benefit from business analytics on the go.
According to a 2010 IBM/MIT Sloan Management Review survey of 3,000 executives across 30 industries from 100 countries, 60 per cent of respondents said they have more data than they can use effectively .
A newer IBM study of 1,700 chief marketing officers from 19 industries and 64 countries further exposes this issue with 71 per cent, saying their organisations are unprepared to handle the explosion of big data.
IBM Cognos Mobile on the iPad is designed to helps employees the financial services, healthcare, government, communications, retail, and travel and transportation.
Doctors and dentists can use it to analyse electronic medical records and show patients customised treatment plans and explain procedures based on that analysis while bankers and insurance agents can use it to analyse loan or policy data to create individual products or services for clients.
By Vasantha Ganesan, btimes.com.my
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