Are you getting the most out of your Business Intelligence (BI) software investment? Beyond doubt, the BI market is booming. The stats affirm the fact.
As per the Research and Markets forecast, global sales of business intelligence reached $22.79 billion by 2017. Of course, this represents a CAGR of 10.4 percent and is expected to hit $55.48 billion by 2026!
What is IBM Cognos Business Intelligence?
IBM Cognos Business Intelligence was initially developed for Watson Analytics. Explicitly the software obtains data and transforms it into innovative business insights. Being the best BI product, IBM Cognos integrates Artificial intelligence (AI) and Machine Learning (ML) to unlock business insights.
What sets Cognos Analytics apart?
If you are a business owner looking for predictive insights, the all-new Cognos Analytics is ideal to adapt to your individual needs. In general, the attributes of this smart data discovery that sets the platform apart is:
- generate contextual recommendations
- derive precise answers to complex business problems
- automate the findings of better business insights
Here are 5 ways that show how businesses are leveraging the power of analytics:
1. Smarter fundraising using Cognos business insights
Unlike universities that depend on alumni for donations, Michigan State University rather found a smarter way!
Thanks to the advanced text analytics. Utilizing data analytics, the University successfully predicted donor engagement, sentiments, and behavior.
In reality, the fundraising campaign leveraged text analytics to tap alumni, stakeholder records and social media. Significantly, the text analytics software triggered potential donors’ engagement, sentiments, and behavior. This helped the University unlock insights and maximize charitable donations that exceeded the fundraising goals!
1.1 How the campaign worked out?
- Integration of Cognos Analytics generated live insights
- These insights were derived from students’ survey responses, board meetings, donor strategy
- Data insights were derived from social media analytics such as blogs, forums, likes, shares, and comments
Maximizing shopping experience with Analytics
Notably, the Pebble Beach resort houses a full administration of the retail division. The retail division includes exotic hotels, golf courses, spa, fine dining, beach resorts, and much more. But, due to limited visibility into the stock, Pebble Beach was missing out on serious sales opportunities.
Unhappy guests, fewer sales and missed opportunities!
2.1 The Transformation
Now picking your favorite memento or longing for an iconic drive across the coast of Pebble beach is no longer a dream.
Yes, it’s possible. After all, Cognos analytics software is integrated within the app! Here, the software not only gathers sales updates daily but also replenishes popular items before these are sold out.
In this case, Pebble Beach Resorts integrated Watson into their official mobile app. Consequently, Pebble Beach was able to enhance the traveler experience. As a result, the guests found it easier to explore almost anything- restaurants, shops, and drive. This helped Pebble Beach to gain better visibility and optimize purchases. Further, the integration of planning analytics helped to-
- Find the perfect memento of the destination
- Boost sales by stocking up their favorite items
- Boost engagement by automating the products categories
- Achieve sales goals by stocking the right products for the right traveler
- Better access to retail data
Maximizing fan engagement with business insights
Inarguably, the All England Lawn Tennis Club (AELTC) is the most prestigious tennis tournaments. While retaining the fans’ attention was tough, granting access to the tournament was also a major challenge.
To increase audience exposure, media outlets that partner with AELTC are always on a hunt for new fan engagement ways. Obviously, seizing a greater share of fans’ attention and growing the audience pays big.
3.1 The transformation
Using IBM Cognos Analytics, AELTC refined data by analyzing the historic match data (Championships in 1877). At the same time, it also analyzed millions of individual data-points right from the umpire chair to the referee’s office! This helped the media in –
- Boosting fan engagement
- Providing media content to the context that triggers interest
- Obtaining insights from millions of data
- Providing up-to-date sports report
- Offering an immersive experience to fans
In the 2018 Championship, an architect used Cognos Analytics to answer spontaneous queries. In effect, by generating smart statistics, he responded to queries and media in minutes, not hours! Truly. Much faster. Right?
Henceforth, the latest analytics continues to deliver a one-of-a-kind viewing experience. In due course, this helped the media outlets to generate self-serve queries and reports.
A predictive solution to Seafood Innovation Cluster
The increasing sea lice problem was a major challenge to Norway based Seafood Innovation Cluster. Since the sea lice eruption on farmed salmon was the biggest threat, harnessing data science was the need of the hour.
The attacks of sea lice to the production of salmon and rainbow trout imposed an increasing risk. Neither the salmon farmers could manage sea lice outbreaks nor they were allowed to expand their business.
4.1 The challenges for the Cluster are:
- Meeting the demand for Salmon
- Keeping the salmon population healthy
- Controlling the increasing sea lice management costs
- Providing rival farmers with a platform to share sensitive data
4.2 The Transformation
To find an answer, the cluster worked with the Cognos Analytics solution. In the first place, the organization was successful to develop an automated system. In due time, the system easily collected, gathered and collated the data on fish health. Also, it was successful in sending alerts on lice outbreaks. Indeed, this technology helped each farmer with a dashboard to predict peak periods of lice. In other words, this enabled the farmers-
- Stay alert of the outbreaks
- Gain control of the lice problems
- Predict sea lice outbreak at each of their sites two weeks ahead
- Take countermeasures
Notably, with 70% accuracy achieved over a two-weeks time, more positive results are on the way with data improvement!
Predicting audience viewing behavior
Explicitly, today’s television audiences are widely split up. In fact, too many streaming choices are forcing multi-stream media to make smarter choices across digital channels. Particularly when it comes to insights, understanding viewing patterns is crucial to winning viewers.
With this in mind, the AMC Networks deployed Cognos Analytics that obtained data from tons of data sets.
In due time, using the predictive data analytics model, AMC and advertising partners were able to-
- Create statistical models that obtain insights based on the most-liked shows
- Target viewers effectively
- Adjust the ad campaigns that appeal to audiences
Want to gain more actionable insights from complex data? Contact us today to know how we can help you to stay ahead of the curve