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Are you thinking too small about Big Data?

A lot of organizations use Big Data & Analytics to know their customers better. But Big Data comes with a bigger promise: the power to deliver value to customers.

A smarter enterprise is moving from Big Data promise to Big Data practice.

Many businesses, organizations and communities today are discovering the powerful knowledge that comes from analyzing the endlessly renewable resource of Big Data.

But analytics is only part of what Big Data offers. An organization gets even greater value by using analytics to serve its customers better through changing how it thinks, works and interacts with them.

A smarter enterprise doesn’t stop at merely drawing new insights from Big Data & Analytics. It puts those new insights to work, combining its powerful knowledge with powerful actions.

See the power of Big Data in action:

Promotion.

Optimizing customer cross-selling and acquisition strategies with predictive analytics.

How Banco Itaú Argentina built a better response rate for its offers.

In a highly competitive environment, Banco Itaú Argentina wanted to find a more effective way to increase customer satisfaction and lifetime value while maximizing the bank's profitability.

The bank needed to answer critical questions: who to contact, what to offer, when to make the offer and how to make the offer. Using IBM SPSS Modeler, Banco Itaú Argentina implemented predictive models to identify target clients with the highest purchase probabilities.

Predictive analytics improved customer understanding and, in turn, campaign targeting. The implementation of between 20 and 30 rolling sales campaigns allowed the bank to increase revenue from existing clients by 40 percent.

The Big Data industry was worth $3.2 billion in 2010. In 2015, it will be worth an estimated $16.9 billion.

Connection.

An Italian city creates a technological safety net that keeps its older citizens healthy and safe, and in their homes.

When Big Data & Analytics make good neighbors.

Stagnant budgets and resources created new challenges for the city of Bolzano, whose growing number of elderly citizens already represents almost a quarter of the population. With ongoing medical advances, ever greater numbers of the elderly are living longer and staying in their homes, often alone. The city wanted to ensure their safety and provide needed services, but it needed a cost-effective way to know when its seniors needed help.

The city has implemented an advanced mesh-network of sensors that monitor the home environment—temperature, CO2, water leaks, etc.—of elderly citizens living alone. Additional remote medical interaction with medical professionals via touch screens or mobile devices provides healthcare advice, saving trips to the doctor. The remote technology works with a little help from “angels” (relatives or friends of the user) who are alerted if there is a problem, and who provide assistance until the appropriate city services (maintenance or medical) arrive.

The system enables social service and health staff to concentrate on people who really need a physical presence with them, while maintaining excellent quality of life for those in the monitoring program, and leaders estimate 30 percent savings in assistance and care.

“As a result of the pilot, 80 percent of the elderly felt more secure, 66 percent improved their mobility through exercise, and 50 percent learned a new way to interact with others through technology.”

— Mauro Randi, director of social planning, city of Bolzano

Solutions: IBM DB2
By 2005, the world had generated 130 billion GB of data—a level expected to increase to 40 trillion GB by 2020.

Reduction.

A healthcare organization transformed data into clinical and administrative intelligence.

Analytics allowed Centerstone to manage its data better and help more doctors and patients.

Like the overall healthcare industry, the behavioral healthcare landscape is quickly changing. Organizations like Centerstone must provide top-level care, while meeting stringent reporting and insurance requirements. To help Centerstone provide healthcare and substance abuse treatment to 70,000 patients in both Indiana and Tennessee, its sister organization, Centerstone Research Institute (CRI), takes on much of its operational responsibility.

Tom Doub, now CRI’s chief executive officer—who has a PhD in clinical and quantitative psychology—and Casey Bennett, CRI’s chief data architect, each were familiar with the power of analytics despite their different backgrounds. They realized that by employing the data already being generated, they could develop predictive models to help guide clinicians to the best treatments for individual patients. Doub and Bennett created an integrated analytics team to embed intelligence into Centerstone’s clinical decision-making practices.

Their approach quickly succeeded, and now, with the same number of clinical staff, Centerstone is able to provide about 30 percent more patient care. In making business information more transparent to clinicians, CRI managers were surprised to find an improvement in data quality and a 25 percent increase in treatment plan compliance.

“By becoming more data driven, we’ve strengthened our ability to adapt to the direction that we see behavioral healthcare going in and, more importantly, our ability to provide the best outcomes for our patients.”

— Tom Doub, CEO, Centerstone

Only half of 1 percent of the 2.5 billion GB of data generated every day is examined for its analytic value.