LAS VEGAS, Nevada, Oct 26 – IBM has launched a new cloud-based service in collaboration with Twitter and The Weather Company that promises to improve how businesses align their products and services to customer needs and behavior.
Through collaboration with Twitter and The Weather Company, IBM Insight Cloud Service aims to transform massive unstructured data into useful information critical for business outcomes across industries such as retail, insurance and entertainment.
By comparing and correlating different data sets, the cloud service can, for example safely predict what different groups of cusomers purchase in the event of an impending storm based on tweets.
“Insight Cloud Services help clients create actionable insights from the noisy reality of the world. IBM is applying data science expertise and advanced analytics to exploit external data, find and connect the signals in that data to create new insights, and then deliver these insights embedded in clients’ business processes,” said Joel Cawley, IBM’s GM of Information and Insights as a Service.
The avalanche of data that businesses are trying to capture and make sense of is expected to grow even faster with more devices get connected and with the advent of cognitive systems that learn by linking data to even more data to understand context. It is estimated that 90 percent of the data in the world has been generated in the last two years alone at a speed of 2.5 Quintillion bytes per day.
“The combination of IBM’s deep industry knowledge and cognitive computing capabilities with the powerful, real-time data available from Twitter is changing the way business decisions are made,” said Chris Moody, VP of Data Strategy at Twitter.
The launch of IBM Insight Cloud Service comes on the backdrop of IBM’s major push into data, analytics and machine learning encapsulated by the super artificial intelligent computer code named Watson. Watson Analytics has evolved and grown from the computer that beat trivia genious Ken Jennings in Jeopardy to now helping in cancer research.
IBM has revealed widespread adoption of Watson Analytics, with half a million professionals registering to explore and visualize data in the past one year.
“By understanding natural language, reasoning and generating hypotheses, cognitive computing is helping people understand, reason and learn from their data in new ways,” said Mike Rhodin, Senior VP IBM Watson.