1-4

DATA & ANALYTICS BLOG

2-3

Which Watson Solutions are Right for Your Organization

Posted by LPA Software Solutions on Oct 13, 2021 10:24:03 AM

The future of business is Artificial Intelligence. AI is transforming the meaning of business innovation. It is re-writing business models and redefining productivity and risk preparedness. Information is power, and AI solutions empower business leaders to make better use of their information to make accurate projections and automate repetitive predictive tasks.

watson-knowledge-studio

Great opportunities reside in the vast amounts of data created every day in your organization. AI enables you to leap in front of your competition and make significant strides into the future. A future in which you and your organization reap exponential growth from smart, insight-driven decisions.

We see the most success with our clients turning to AI when:

  1. You need data-driven insights to stay ahead of the competition
  2. Automation is critical for efficiency, revenue growth, and cost reduction
  3. You need increased transparency and accountability in your financial and manufacturing process
  4. Growth and expansion into new markets requires an in-depth understanding of trends
  5. Enhancing the customer journey requires tracking their buying habits and understanding their preferences
  6. Compliance with your industry regulations demands real-time monitoring, anomaly detection, and reporting

IBM Watson Studio

IBM Watson Studio is an integrated AI environment complete with open source tools and developer solutions from the IBM cloud. For its well-balanced predictive analytics and machine learning features, IBM Watson Studio was named as a leading solution in the Gartner 2021 Magic Quadrant report.

Digesting vast amounts of data for meaningful insights can be easy. Imagine as the CEO, understanding buying trends and predicting profits in 3 steps.

  1. Import your data, 
  2. Run the analysis using the Watson data modeling feature, and
  3. View the generated models.

With the resulting insights, you can track patterns in your business and stay on top of market trends.

IBM Watson Studio’s machine learning is a ready-for-deployment solution that can accelerate the efficiency and practicality of data science in your business environment.

CEO's are seeing value in machine learning to help:

  • Simplify and shorten the customer journey
  • Shorten the time in data entry and reporting
  • Expedite detection and analysis of anomalies in financial transactions and processes such as loan underwriting and portfolio management
  • Improve efficiency in preventive maintenance in manufacturing

Currently, 51% of businesses have already implemented ML, and 49% of organizations are considering deploying it. So, rest assured that you're not alone in your investigation and interest in a better, faster, smarter approach to strategic decision-making.

Watson Assistant - LPA

Watson Assistant

With the Watson Assistant solution individuals with no coding experience can build and deploy a chatbot in minutes. Watson Assistant makes it possible to have human-like interactions for customer service through chatbots set up for your organization.

You can deploy the Watson Assistant to:

  • Take over your routine and mundane tasks from messaging customers, scheduling events, and making calls
  • Improve sales conversations through an intuitive nurturing experience
  • Improve customer satisfaction
  • Improve your workflows
  • Ease demand and increase productivity on internal resources

Watson Discovery

With Watson Discovery’s intelligent search and text analytics, analysts can eliminate data silos and retrieve information buried inside enterprise data. The platform cuts research time by more than 75% by using natural language processing to uncover meaningful business insights from documents, webpages, and big data.

Watson Discover

Implementing Watson Discovery you’ll find:

  • Knowledge workers who previously spent 20% of their time on text analysis/search reduced task time by 50%
  • Workers start seeing the benefit of the solution after 2 hours of training
  • It takes just 13 months to recover the cost of adoption and implementation
  • The efficiency and accuracy of the solutions deliver a 5% increase in growth per year
  • Increased worker productivity improves quality of work and customer satisfaction

Watson Knowledge Catalog

IBM Watson® Knowledge Catalog powers intelligent, self-service discovery of data, models, and more while governing and protecting that data. The cloud-based enterprise metadata repository activates information for AI, machine learning (ML), and deep learning. Access, curate, categorize and share data, knowledge assets and their relationships, wherever they reside.

  • Use IBM Watson Knowledge Catalog for IBM Cloud Pak® for Data to deliver business-ready data to feed AI and analytics projects.
  • Create a common business glossary governance foundation
  • Decentralize management of external data connection to provide accurate timelines and well-informed business decisions
  • Protect data to promote compliance and audit readiness through active policy management, role-based access control, and dynamic data masking

Watson Planning Analytics and Cognos

Planning Analytics is a financial planning, budgeting, and forecasting solution that promotes effortless collaboration and helps businesses achieve more accurate results.

  • Quickly create more accurate plans and forecasts for FP&A, sales, and supply chain
  • Eliminate reliance on error-prone spreadsheets and manual processes
  • Augment human intelligence so that employees can spend less time manually aggregating data, and more time on analysis and higher-value work

Cognos Analytics is an AI-fueled business intelligence platform that supports the entire analytics cycle, from discovery to operationalization and governance. 

  • Quickly create compelling, interactive dashboards
  • Import data from CSV files and spreadsheets. Connect to cloud or on-premises data sources
  • Ask the AI assistant a question in plain language, and see the answer in a visualization.
  • Use time series modeling to predict seasonal trends.
  • Create and deliver personalized reports

How to Choose the Right Watson Solution

In business, Artificial Intelligence should be part of your business. At LPA, we recommend to get started that you build a strategy and an artificial intelligence adoption roadmap in these four steps: 

  1. Identify the critical business processes or problems that demand AI capabilities
  2. Find an analytics partner to help with your business readiness
  3. Run a Proof of Concept to analyze Artificial Intelligence capabilities against your target use cases
  4. Outline future needs and applications based on findings

The right analytics and AI strategy will help you make better decisions, accelerate productivity, and ease your expansion into new markets. IBM Watson solutions are made for ease of use and broad scope application. 

Guide: AI Meets C-Suite

Topics: Watson, AI