EIA 2015 Using Big Data for Market Validation: Watson Analytics
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Paul Reeves – Big Data & Analytics Architect, IBM
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EIA 2015 Using Big Data for Market Validation: Watson Analytics
- 1. © IBM 2015 1#WatsonAnalytics
- 2. Be Brilliant! Paul Reeves, paul.reeves@fr.ibm.com Big Data Architect, IBM La Gaude, France @PaulEReeves
- 3. © IBM 2015 3#WatsonAnalytics Technology has changed expectations Our work and personal lives have blurred It’s an “always-on” world A Do-It-Yourself mentality prevails
- 4. © IBM 2015 4#WatsonAnalytics Leveraging analytics still faces many obstacles Source: Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute for Business Value study. Copyright © Massachusetts Institute of Technology have a limited understanding of how to use analytics 38% Self-service analytics and expectations to drive better data-driven decisions are rising of the time is spend on data preparation 80% Making decisions rapidly is no longer a goal; it’s an imperative find it difficult to get data24% Access to required data sources is critical while maintaining governance standards
- 5. © IBM 2015 5#WatsonAnalytics Even a simple analytics project has multiple steps and people Data Access Data Preparation Analysis Validation Collaboration Reporting Data Scientists and Statisticians Business Users ITBusiness Analysts
- 6. © IBM 2015 6#WatsonAnalytics And it’s rarely a straightforward process Data Access Data Preparation Analysis Validation Collaboration Reporting Data Scientists and StatisticiansBusiness Users IT Business Analysts
- 7. © IBM 2015 7#WatsonAnalytics
- 8. © IBM 2015 8#WatsonAnalytics
- 9. © IBM 2015 9#WatsonAnalytics Watson, A New Era of Computing Tabulating Systems Programmable Era Cognitive Era 1900 1950 2011
- 10. © IBM 2015 10#WatsonAnalytics
- 11. © IBM 2015 11#WatsonAnalytics Fully Automated Intelligence Natural Language Dialogue Guided Analytic Discovery Single Analytics Experience IBM Watson Analytics Self-service analytics capabilities in the cloud
- 12. © IBM 2015 12#WatsonAnalytics
- 13. © IBM 2015 13#WatsonAnalytics Business Analysts Data Scientists Self-sufficiency for business users and experts alike Business Users IBM Watson Analytics
- 14. © IBM 2015 14#WatsonAnalytics Marketing Campaign Planning and ROI Sales Customer Retention Finance Prioritizing Accounts Receivable IT Helpdesk Case Analysis Operations Warranty Analysis HR Identifying and Retaining Key Employees Analytics can make a difference in many ways … here are a few examples
- 15. © IBM 2015 15#WatsonAnalytics Hashtag analysis Leverage social data to achieve a more complete view of your business Tap into the expressions thoughts, ideas and sentiment on Twitter Simply type in a Twitter hashtag Direct connection to Twitter - no need to import data
- 16. © IBM 2015 16#WatsonAnalytics Demonstration
- 17. © IBM 2015 17#WatsonAnalytics • Single Analytics Experience • Fully Automated Intelligence • Natural Language Dialogue • Guided Analytic Discovery Smarter Data Discovery Get started at WatsonAnalytics.com
- 18. © IBM 2015 18#WatsonAnalytics www.ibmchefwatson.com
- 19. © IBM 2015 19#WatsonAnalytics Watson Analytics Editions * Capabilities and Features for IBM Watson Analytics can change, please consult IBM.com for Watson Analytics editions and latest information Free Personal Professional Amount of storage included 500MB 2GB 100GB Number of users Single Single Multiple Collaboration Connector to Cognos report data Access to data in the cloud (i.e. Dropbox, Box, etc) * RDBMS support (DB2, Oracle) * Access to social data from Twitter 25K tweets per dataset 50K tweets per dataset Additional storage available File size parameters (csv or xls) 50 columns by 100K rows 256 columns by 1M rows 500 columns by 10M rows Choose your plan FREE $30 a month per user $80 a month per user
- 20. © IBM 2015 20#WatsonAnalytics www.watsonanalytics.com Thank You, Be
- 21. © IBM 2015 21#WatsonAnalytics Vehicle Distributor Smarter Products and Services EUR 500,000 more profits generated during the proof-of-concept phase EUR 1.4 million additional revenue anticipated during the first year thanks to better-targeted sales tactics and more competitive pricing EUR 90,000 saved in annual consulting fees as a result of automating parts pricing analysis
- 22. © IBM 2015 22#WatsonAnalytics Construction products manufacturer Analytics 90% improvement on time to value on processing new data Generates new leads through enhanced marketing insight by recognizing patterns in customer call center data Improves efficiency of repair operations through the automation of leak detection and work order generation
- 23. © IBM 2015 23#WatsonAnalytics “IBM Watson Analytics – Let’s get started – video” “Using Watson Analytics to understand how customers might respond to a marketing campaign – video” “Discover What Matters to Your Business with Watson Analytics – video” https://www.youtube.com/watch?v=7NU6DA_cZtc https://www.youtube.com/watch?v=_dOwykEL-QI https://www.youtube.com/watch?v=5mu4YJrIqJY Learn More
Editor's Notes
- The world is changing Expectations are increasing: At work and at home, we expect technology to deliver immediate access to the information we seek. As the lines between our personal and work lives blur, we’re expected to know more, understand more and do more. If the technology we use doesn’t provide value immediately, we simply drop it and move on to the next thing. Make better decisions faster: We live and work at a relentless pace, and we’ve never been more connected to the people, brands and information that matter to us most. With the intense speed of business today, time—or more clearly, our “return on time”—has become a primary currency by which many measure value. Making better decisions rapidly is no longer a goal; it’s an imperative. We must shrink the time to informed action, which requires us to deliver more than just faster answers; it demands that we identify the right questions to ask. Bring your own insights to work: We’ve become a global society that practices independent investigation and pervasive learning. Have a question? Get an answer…quickly, simply, and on your own. The data is there, and so are the technologies that make it easy to identify, explore, verify and share that information. This freedom breeds creativity in how we approach problem-solving, even as it fuels expectations that we can consistently deliver fast, correct action. These changes in the world makes this the right time for Watson Analytics.
- Primary obstacles preventing widespread adoption of analytics Source: Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute for Business Value study. Copyright © Massachusetts Institute of Technology Departmental experts and analysts are expected to drive better data-driven decisions, but lack the breadth of advanced skills needed for data management, building predictive models, and effectively communicating the correct conclusions. Making decisions rapidly is no longer a goal; it’s an imperative. Reducing the time to informed action requires a streamlined ability to draw compelling conclusions without reliance on too many people and the need to leverage multiple disparate tools. Self-service is increasingly becoming more important as business users are pressured and motivated to quickly find answers on their own. Self-service needs are increasing, but IT is concerned about maintaining corporate data governance standards. The expectation of today’s workforce is that they can access and analyze their data anytime, anywhere. And then getting insights to decision-makers quickly is critical to delivering fast, correct action.
- Even a simple analytics project has multiple steps and people. Projects require multiple steps like accessing and obtaining data. Business units and individuals from IT and departmental analysts are needed to manage and prepare trusted and governed data sources. Providing this data to Analysts takes time and resources. Validation of this data is critical to avoid errors and poor decision making before the data is used by many to collaborate on the actual intent of the data itself before it is reported. If the data is wrong then the reporting will be wrong and decisions will be inadequate.
- We follow patterns in our daily work lives that can be illogical and inefficient, leading to delays in decision making.
- Anybody remember this? That’s why IBM Watson Analytics helps you find what matters most to your business
- We have arrived at a tipping point where the abundance of data, emergence of cloud, advances in analytics, new user experience design and business models mean data-driven decisions can now be an essential, daily and valuable activity for business people. No longer just for data scientists or IT -- marketing, sales, operations, finance and HR professionals can gain answers they need from all types of data. This requires a revolution in analytics technology, helping people acquire, refine data, discover insights, predict outcomes, visualize results, create reports, and collaborate with others in a unified user experience that speaks the language of business. Learn more about IBM Watson Analytics at WatsonAnalytics.com. Visit the site to get started with Watson Analytics for free. Register to access Watson Analytics on the cloud. Watch demos and how to videos, read content and talk to our experts through our community forum. Four key takeaway points: Watson Analytics brings together a complete set of self-service analytics capabilities on the cloud. You bring your problem, and Watson Analytics helps you acquire the data, cleanse it, discover insights, predict outcomes, visualize results, create reports or dashboards, and collaborate with others. Just bring your data, and Watson Analytics will do the rest. By automating all the steps of data access and refinement, predictive analytics, and visual storytelling, Watson Analytics jumpstarts your analysis and accelerates your time to value. It immediately starts you off with a visual story that illustrates what you need to know. Instead of fumbling over data or searching for answers, you can focus on understanding your business and effectively communicating results to stakeholders. Watson Analytics speaks the language of your business. Simply type in what you would like to see and Watson Analytics produces comprehensive results that explain why things happened and what's likely to happen, all in the familiar terms of your business. And as you interact with the results, you can continuously fine-tune your questions to get to the heart of the matter. Watson Analytics features the use of predictive analytics to surface the most relevant facts and uncover unforeseen patterns and relationships. This sparks the right questions to ask and directs your attention to the parts of their business that matter most.
- Who is Watson Analytics for? Watson Analytics offers self-service capabilities to the full range of business users and experts alike: -Individual Business Users, like sales operations, marketing programs managers, financial analysts, or operations managers, who are looking to better understand the data relevant to their job roles; -Business Analysts, whose jobs are centered around processing information for the organization, and who want to go beyond measuring and start understanding, but don’t have ready access to advanced analysts such as data scientists, statisticians, data miners, or BI architects; and -Data Scientists themselves who can spend 40-80% of their time on data access and refinement. Watson Analytics can be an accelerator for them. What issue or opportunities does Watson Analytics address? The world and the way people work are changing: Departmental experts and analysts are expected to drive better data-driven decisions, but lack the breadth of advanced skills needed for data management, building predictive models, and effectively communicating the correct conclusions. Making quality decisions rapidly is no longer a goal; it’s an imperative. Reducing the time to informed action requires a streamlined ability to draw compelling conclusions without reliance on too many people and the need to leverage multiple disparate tools. Self-service is increasingly becoming more important as business users are pressured and motivated to quickly find answers on their own. Self-service needs are increasing, but IT is concerned about maintaining corporate data governance standards. The expectation of today’s workforce is that they can access and analyze their data anytime, anywhere. And then getting insights to all stakeholders quickly is critical to delivering fast, correct action.
- Watson Analytics can be used for a wide variety of business use cases. Here are just a few examples such as: Marketing Lead Prioritization: Increase the quality of leads in your sales pipeline by discovering the driving factors of leads that resulted in successful sales. Target leads and prospects that will have a higher likelihood of becoming a sale to boost revenue and reduce costs by not spending time and resources on leads with little chance of becoming a sale. Customer Value Analysis: Customer growth improves overall profitability of the business and drives increased customer value and loyalty, delivering value-added products and services to an organization’s existing customer base. This is accomplished by first discovering the attributes that drive profitability, identifying what customers meet the identified profitable profiles, and then proactively providing those customers with highly targeted recommendations across all customer interaction channels to drive an increase in conversions and customer profitability Campaign Prediction and Planning: Improve effectiveness and efficiency in marketing departments by predicting which customers will respond to various campaigns. Predictive analytics provides value by increasing the quality of leads and the likelihood of response while reducing costs by efficiently targeting the customer through the right channel with the right offer at the right time. Sales Win/Loss Prediction: Analyze your sales pipeline and predict with confidence which deals have the highest chance of closing and those you’re at risk of losing to allocate resources effectively. Anticipate performance gaps in your sales pipeline, analyze current conditions and alternatives, and then optimize outcomes for predictable sales performance. Customer Retention: Predict which customers will leave and present customers' level of risk. Watson Analytics provides value by increasing customer retention and increasing the effectiveness of customer retention programs by targeting those customers most at risk of leaving. Finance Account Receivable Prioritization: Leverage Watson Analytics for collections. Organization can optimally determine their customers least likely to pay to most likely and prioritize their outreach and communication to align with their collections goals and objectives. By identifying the right customers to contact (and through which channel) organizations can improve operational efficiency and recover more money: a bottom line affect on income. IT Help Desk Activity Analysis: Analyze the IT help desk tickets in your organization. See how long tickets have been open, what the average response time is, and understand what the key drivers are of high priority tickets to help determine how to allocate resources to resolve tickets faster. Operations Warranty Claims Analysis: Analyze returns and predict upcoming warranty costs and issues, as well as determine potential fraudulent warranty claims. Increase the effectiveness of claims and warranty departments by improving the bottom line, decreasing costs, and enhancing supplier relationships. HR Employee Retention: Provide insight into workforce and human resource issues. Human Resource analysts can uncover predictive factors driving employee attrition allowing you to intervene and take appropriate action.
- We have also been leveraging the buzz around several significant global partnerships we’ve made with some rather big consumer brands, including Apple and Twitter – and none could be more relevant to Watson Analytics than Twitter. Just think: hundreds of millions of individuals express their thoughts, ideas and aspirations on Twitter. IBM and Twitter are helping organizations achieve a more complete view of their businesses by extending corporate data with social data. Paying subscribers of IBM Watson Analytics will be able to tap into a 10% sample of the Twitter Firehose to bring social insights into every business decision. With enrichments from IBM's social media analytics capabilities including predicted sentiment, gender and location, users will simply type a Twitter hashtag into Watson Analytics and it will automatically analyze tweets and surface key insights – with nothing for users to import. Organizations are becoming more and more serious about maximizing the value from Twitter data and combining this information with existing enterprise data and with other external information sources. Together, Watson Analytics with Twitter, brings social analytics into every business decision. It really will be as simple as typing in a Twitter hashtag! Watson Analytics will now spin up the data for you and automatically surface key insights around that hashtag, which you can quickly explore and understand.
- Use this slide as a place holder or intro to a demo that you have and will present.
- Learn more about IBM Watson Analytics at WatsonAnalytics.com. Visit the site to get started with Watson Analytics for free. Register to access Watson Analytics on the cloud. Watch demos and how to videos, read content and talk to our experts through our community forum. Four key takeaway points: Watson Analytics brings together a complete set of self-service analytics capabilities on the cloud. You bring your problem, and Watson Analytics helps you acquire the data, cleanse it, discover insights, predict outcomes, visualize results, create reports or dashboards, and collaborate with others. Just bring your data, and Watson Analytics will do the rest. By automating all the steps of data access and refinement, predictive analytics, and visual storytelling, Watson Analytics jumpstarts your analysis and accelerates your time to value. It immediately starts you off with a visual story that illustrates what you need to know. Instead of fumbling over data or searching for answers, you can focus on understanding your business and effectively communicating results to stakeholders. Watson Analytics speaks the language of your business. Simply type in what you would like to see and Watson Analytics produces comprehensive results that explain why things happened and what's likely to happen, all in the familiar terms of your business. And as you interact with the results, you can continuously fine-tune your questions to get to the heart of the matter. Watson Analytics features the use of predictive analytics to surface the most relevant facts and uncover unforeseen patterns and relationships. This sparks the right questions to ask and directs your attention to the parts of their business that matter most.
- What it is: Chef Watson is the result of a collaboration between IBM and Bon Appétit to introduce a limited beta version of a cognitive cooking application that puts the power of Watson into the hands of the home chef to inspire their creativity and help them discover new recipes that have never been imagined before. How it works: Watson ingested over 9,000 Bon Appétit recipes and combined this with its knowledge of food chemistry, the psychology of people’s likes and dislikes, and regional and ethnic cooking, to help curious cooks change the way they think about creativity in the kitchen. Why we’re pursuing this: Chef Watson with Bon Appétit is an example of how Watson is opening up a new age in discovery. Building off Watson’s expertise at combing through vast amounts of information and delivering answers and insights that help people make decisions to discovering something new is the next step in a new era of cognitive computing.
- PLEASE NOTE: SOME OF THIS INFORMATION IS PLANNED FOR Q2 AND NOT NECESSARILY IN THE PRODUCT YET. Amount of storage included is the total amount of data plus created workbooks, explorations and dashboards that can be stored in your instance of Watson Analytics. The freemium and personal editions are for individual users. The professional edition introduces a multi-user environment where users can interact within the product, for example sharing refined data sets, sharing insights and visualizations, and commenting on boards. The personal edition allows for access to ONE source of data on the cloud, the professional edition allows for access to TWO sources of data on the cloud. These would include examples like Dropbox, One Drive, Google Drive, Box, etc. (PLANNED FOR Q2) Personal and professional have the ability to add more storage. Professional will eventually include connectors to Cognos and TM1. (PLANNED FOR Q2) Current prices are USD $30/month/user for the personal and $80/month/user for the professional.
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- Use these links to take a look for yourself at what Watson Analytics brings to business users.