A recent webinar by INDUSTRYWEEK explains the different uses of predictive analysis in auto industry and how it is changing the competitive atmosphere.

For More Information :  http://www.industryweek.com/webinar/predictive-analytics-transforming

The biggest challenge for any insurance company is  to capture, store, search, share, analyze and visualize big data. Moreover, handling these data is also very challenging for the insurers. Étienne Castonguay, partner and co-founder of InEdge, suggests that Predictive Modelling in insurance can help them in solving the problems.

For more information, please go through: http://tdwi.org/Articles/2013/02/26/Insurance-Analytics-Trends.aspx?Page=1

To find new opportunities and minimize current problems, it is important for an organization to collect and use big data efficiently. On a day to day basis, Excel is a common tool. But when it comes to analyze huge data, sometimes Excel becomes inefficient. The probability of errors are always there in spreadsheet, especially when data set is more complex. A blog by Renat Stewart, Banking Officer at M&T Bank, talks about how to utilize Excel spreadsheet in an efficient manner.

Please follow this link : http://www.riverlogic.com/2013/05/data-complexities-prove-excel-spreadsheets-difficult-to-maintain/

Machines are important in any manufacturing industry. As wear and tear of the machines are obvious, a preventive maintenance program is vital to i) reduce machine downtime, ii) get the overall view of the health of the machine and iii) estimate the cost of the maintenance.

The preventive maintenance can be done with the help of a Predictive Maintenance program, also known as PdM which includes the techniques of Predictive Analytics. Different sensors installed in the machine provide inputs to the Analytical Software from which the degradation process can be understood. This will help in predicting different failure modes of the machine.

To know its benefits and how PdM improves machine & equipment maintenance, please go to http://www.lselectric.com/4-ways-predictive-analytics-improves-equipment-maintenance/

The box of treasure that analytics promises, contains the ability to fully understand customer behavior, derive actionable insights, and further tailor customer experiences to meet the needs of any segment. It is estimated  that big data will grow from 12 billion dollar industry to 53 billion dollar industry by 2017. However, with various types of investments and expectations that exist across many industries; it will not be easy to achieve the capabilities needed to derive deep insights and decisions making mechanism. Many firms still struggle with capturing basic information, collecting external customer information, social media information, and measuring wallet share. However, based on a recent Forbes survey, 63% of the firms reported a transformation impact on their business, by an integrated approach to analytics, where predictive modelling, customer analytics, and big data are working together using cloud services. The investments are starting to pay off, which indicates there may really be a pot of gold that awaits those who pursue the analytics path.

To read more, visit the following link:

http://www.business2community.com/business-intelligence/reaching-pot-gold-investments-analytics-paying-0801572#ssAKHfblgoitLWGX.99

A presentation by Geoff Watts, Chief Executive Officer  & Co-Founder of EDITD, where he speaks about how big data is helping the fashion industry. As apparel brands are going global, huge amount of retail and consumer data are generated .To tap these data, the fashion industry is taking the help of different analytical tools to get a complete picture of the industry during different time periods and take a decision.

For More Information :- 

A blog by Carlos Centurion, President, River Logic Solutions, talks about the third phase of analytics i.e. prescriptive analytics. Prescriptive analytics helps not only to anticipate what will happen and when will it happen, but also why will it happen.

Healthcare providers are using various tools of prescriptive analytics to enhance their performance and efficiency.  It also helps the provider to take better decisions. To know more about Prescriptive Analytics in Healthcare Provider Industry, please follow this link:

http://www.riverlogic.com/2014/02/prescriptive-analytics-healthcare-provider-industry/

Imagine, in this IT enabled world, different departments of a bank are operating on a standalone framework, managing millions of customer data. So it’s obvious that they will not have a clear picture about customers’ demographic pattern, their preferences and their account usage patterns.

Thanks to Analytics, these problems are now being solved. Omar Sohail, Principal, Deloitte Consulting LLP and Banking & Securities, Business Analytics & Information Management Leader, writes how structured, unstructured and semi-structured data can help the banks in reaping benefits by getting more insights about customer data.

For detailed information please go to http://www.baselinemag.com/analytics-big-data/banking-on-big-data-and-analytics.html .

Banks are the backbone of every economy. With the help of data analytics, banks are defining the modern age of customer retention & services through out the world. However, the Indian BFSI sector is yet to implement data analytics in their day-to-day operations. Mohan Jayaraman, Experian Credit Information Company of India, explains how Indian banks can improve their customer lifecycle by using data analytics. To read about his views visit:

http://www.informationweek.in/informationweek/perspective/287791/indian-banks-improve-customer-lifecycle-analytics

A report by McKinsey & Company talks about how usage of data analytics is transforming organisations. It also conveys that information on niche segments can also be important.

For more information follow

http://www.forbes.com/sites/mckinsey/2014/01/15/new-ways-for-turning-data-into-dollars-now/

Voice of customer is the most important source of information for any organization. Verint, a global leader in actionable intelligence solutions, has developed a software, Impact 360 Speech Analytics Solution, to modify customers’ voice in order to optimize and provide proper action.

For more information, please go through:

http://www.verint.com/solutions/enterprise-workforce-optimization/products/speech-analytics/index

Working at a stretch of 8 hours is tiresome and that too sitting at the same desk. So, TIBCO Software Inc., a US based company, developed TIBCO Spotfire Mobile Metrics, a highly accessible and user-friendly Business Intelligence tool. With the help of this tool, employees can monitor the pulse of the business instantly and business leaders can act on business opportunities and problems using personalized key performance indicators.

Mark Smith, CEO and chief research officer of Ventana Research, talks about how Location Analytics market is emerging to provide better business insights. With the help of this technology, companies can save time and money, decrease business risks and increase competitive advantage.

For more information follow

 http://www.directionsmag.com/articles/new-generation-of-location-analytics/311467

Even this may seem to be heard as unbelievable, but police departments are increasingly using Analytics to prevent crime by predicting them.

The Predictive Model makes use of algorithms, time/space analysis and social network analysis from where the police departments and other crime prevention authorities can get to know where burglary will take place or even what will be the probability that a car will be stolen.

Amazed on reading this? Go over to the link http://hub.jhu.edu/2013/10/24/predictive-policing for more interesting information on it.

Nowadays army and navy are using analytics to identify energy saving opportunities. Boston based Retroefficiency has developed an automated energy audit which automates the entire process of an auditor. It also helps in depicting the amount of energy used by each specific building.

For more information, please go through: http://fcw.com/articles/2013/12/11/army-navy-energy-audits.aspx