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Analytics, Big Data and Business Intelligence

Introduction

 

Analytics, Big Data and Business Intelligence is a fully emerging industry in the IT field and will maintain its strong growth throughout the following years. Big Data places itself in the logical evolution of IT. For years, it has been possible to accumulate large quantities of data from various sources but until recently, there were few opportunities and efforts to exploit and capitalize on that data.

The analytics services and business intelligence solutions utilize the combination of mathematics, statistics, and computing to build models and algorithms allowing the extraction of knowledge from large quantities of data. Traditionally aimed on quantitative data, research in that area is already pulling from sources such as text, images, web data, and data streaming, to feed its analysis.

Objectives

The first objective of analytics is to manage raw data to extract elements of understanding which may be useful in the decision making process. The data exploration techniques can be used in completely different industries and domains with specific objectives such as:

Management:

  • Improve client relation and grow revenues from CRM data
  • Analyze purchasing and consumer behaviors
  • Optimize websites or web campaigns
  • Maximize client loyalty and minimize attrition
  • Classify potential new clients along certain criteria to improve chance of success
  • Improve the client experience by offering customized services and proposals
  • Solve complex operational problems
  • Set up and complete preventive maintenance
  • Identity, banking, and financial fraud detection
  • Evaluate and minimize operational, financial, investment, insurance and other types of risks

Public services and research:

  • Improve the quality of services rendered to citizens and the general population
  • Optimize the distribution of resources for emergency and safety services
  • Prevent crime by characterizing criminal behaviors
  • Fraud detection of various natures
  • Understand social or environmental aspects to elaborate more efficient policies
  • Discover the link between genes and their functions in medical research

Various other examples could complete this list but whatever they may be, they boil down to characterizing a complex phenomenon to better understand it and therefore improve its quality or reduce its negative impacts, financial or otherwise.

How LGS can help you

IBM is the global leader in business intelligence and analytics solutions. LGS enjoys its close relationship with IBM to serve the Canadian market with these particular technologies, be it in the private or public sectors.

These services and solutions are highly personalized to the requirements and needs of each client. However, it is possible to codify the major and recurring steps:

  • 1. Objectives definitions
  • 2. Inventory, preparation and exploration of the data
  • 3. Elaboration and validation of the models
  • 4. First tests analysis
  • 5. Revision of the first results
  • 6. Adjustments and finalization
  • 7. Implementation
  • 8. Documentation

The Canadian’s market’s most important demands are currently projects of analysis for commercial data and asset preventive maintenance in the private sector, while there is even more interest in projects for the improvement of the quality of public services and optimization of resources of emergency and security services in the public sector.

Whatever the client’s objectives, LGS will leverage the expertise and direct support from IBM to develop and put into use the analytics and business intelligence services which will allow them to reach their objectives.