I feel the need to stream: the impact of continuous intelligence
Staying at the forefront of digital transformation means embracing constant change. It’s about staying nimble to customer demands, tapping into the pulse of a shifting market, and taking actions on insights as they’re developed. All of this can be made possible through continuous intelligence (CI).
Grounded in real-time analytics, CI allows companies to make informed, of-the-moment decisions as events occur. Integrating historical and streaming data, CI delivers a more complete picture with insights into not only what’s happening now, but why. Unlike classic business intelligence, it incorporates machine learning and AI at the core to form predictive analysis and automate decision support. When infused into business processes across hybrid and multicloud environments, CI can help companies streamline operations, detect and fix problems before they emerge, save resources, spike ROI, and ultimately improve the bottom line. In fact, the case for continuous intelligence is so strong that Gartner estimates more than half of major new business systems will incorporate CI by 2022.
IBM has worked with clients across a wide range of industries to deliver impactful business results with CI. From improving disaster relief to creating smart Japanese vending machines, these industry uses cases are a testament to CI’s vast potential to transform and innovate. Hear stories from Mike Beddow and Cathy Reese, two sales leaders at IBM’s Global Business Services, in conversation with RTInsights.com:
Continuous intelligence in the public sector
When natural disasters strike, one of the top priorities for the government is to safely and quickly deploy emergency resources. Beddow takes us through the true story of a botched effort for disaster relief by a local state government and how that incident inspired a new wave of predictive analytics to aid emergency resource allocation. Cloud Pak for Data, IBM’s leading data and AI platform, helps the state determine, for example, whether a certain district will need more snowplows than others and reallocate in real-time as necessary.
Continuous intelligence in the transportation, utility, and retail industries
“Everyone’s looking for the next new business model,” says Reese, and CI plays a crucial role in helping companies innovate. In the transportation industry, shipping trucks can now track the types of traffic that drive by and open up new ad revenue streams from sponsors who seek hyper-targeted advertising at the side of the trucks. In retail, Japanese vending machines can now collect data from foot traffic, weather, time of day and more to determine what kind of items to offer—such as cold drinks on a hot day, warm soup on a cold day, etc. Utility companies can adjust their vegetation management strategies by detecting where fire is most likely to occur, drawing from historical and real-time data such as wind speed and humidity.
Continuous intelligence in healthcare
When sepsis—the body’s life-threatening reaction to infection—occurs in a patient, detection often happens too late. Beddow works with clients that are using CI to provide early detection of sepsis and outcome-based care. This is one example of how CI can help hospitals shift away from a fee-for-service model (i.e. “how many patients are seen”) to one that can predict real-time outcomes based on individualized treatments (i.e. “which prescriptions actually led to faster recovery times?”).
Continuous intelligence in the insurance industry
CI is helping an Italian insurance company innovate with telematics (collection and/or transmission of data from a vehicle at rest or in motion). By matching streaming telematics data with claims data, the company can process claims much more quickly. It can also detect real-time events, such as accidents or fraud, through IBM Cloud Pak for Data’s integrated platform that brings together siloed sources of historical, streaming, customer service, and policy data.
Continuous intelligence in the chemical industry
Data around chemical defects is not the kind that can wait to be batched in the next 24 hours. It needs to be spotted and fixed right away, and Reese is working with one company to do just that. By using IBM Cloud Pak for Data to build a flexible information architecture, the company can add on different use cases as needed to achieve quick wins and alert clients who may be impacted by potentially hazardous chemical defects.
To learn more about how IBM Cloud Pak for Data supports continuous intelligence, read our ebook Successful Continuous Intelligence Across Various Industries or visit our website.