Predictive Analytics

The growth and development of analytics in the financial services industry

By March 20, 2017 No Comments

Since its introduction to the business world, the advantages of predictive analytics have been clear. Not only do such systems, like the IBM Cognos suite of products, aid immensely in developing understanding of past and current situations, they also provide a data-based look at potential future scenarios. With this sort of perspective on past performance and future trends, financial services companies gain insight that is immensely valuable in terms of streamlining operations, assessing risk, and confidently making good decisions.

With the arrival of cognitive analytics, the benefits of these processes increase. The IBM Big Data & Analytics Hub highlighted the many diverse considerations financial services providers have to contend with in the modern market, from customer expectations and fulfillment to cyber security, risk management and compliance.

"Cognitive analytics provides broader, more comprehensive insight."

Cognitive analytics incorporates advanced computer learning processes, like data mining and pattern recognition, to create a simulation of human thought processes. In practical applications, this means more effective analysis that can tie together disparate areas of operation and highlight commonalities. In turn, broader, more comprehensive insight is provided. That gives financial services providers a better chance of connecting with a customer and maintaining successful interactions going forward, as well as better assessment of risk and the discovery of opportunities in the moment – instead of when they've already passed.

Aviana works with IBM to provide businesses in the financial services industry with solutions that address their unique needs and help them increase their competitiveness. With a history of working with businesses in this market, we have a powerful understanding of what's important for financial services organizations and can help implement the best possible solutions. To learn more about our work with companies like yours, visit our dedicated industry page.

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