Publication – The Times of India
Edition – Pune
Global information technology major IBM has trained its guns on the growing market for business analytics solutions in India, as the large businesses in the country seek to become more efficient and cost effective. Among the major sectors that will benefit from applications in business analytics would be telecom, banking, utilities and government services, IBM senior functionaries told TOI.
The Indian banking sector is among the major beneficiaries of analytics as it can harness solutions to understand customer behaviour faster and more accurately while offering a safe and secure environment that facilitates online transactions and various payments, said Prashant Tewari, country manager for IBM’s analytics solutions business. Other promising areas for analytics include retail and telecom, as both rely largely on analysis of data to ensure customer loyalty and an increased spend on newer offerings, he added.
Organisations such as Bharti Airtel have successfully harnessed IBM’s analytics solutions to engage with its customers better. “With costs of telecom services falling, it’s a challenge to ensure customer stickiness by tailoring options most suitable to each customer,” said Amrita Gangotra, member of the board and director of Bharti Airtel. “By simply knowing that a customer calls a certain number several times in a day, we can offer him a special rate for all calls which he would make to this number,” she said.
Pradeep Nair, director of IBM’s software group for Indian and South Asia, said business organisations are now handling very big volumes of data which gets accessed by users on multiple digital devices. IBM has paid close attention to the issue of data security while coping with the challenge of device proliferation and making data available across these devices.
Business organisations will have to rely on analytics solutions as that will help them reduce the customer churn. This is more important, given the regulators’ approach of offering portability to customers in banking and insurance services area after allowing it in the mobile telephones, Nair said.