With IBM Business Analytics offerings, including Cognos and SPSS (Statistical Package for the Social Sciences) software, organisations can implement a complete framework or pick and choose the products that best suit their business requirements, budget and existing systems.
The core components of business analytics include:
- Business intelligence: Query, reporting, analysis, scorecards and dashboards to enable decision makers across the organisation to easily find, analyse and share the information they need to improve decision making
- Analytic applications: Applications that package the business analytics capabilities, data models, process workflows and reports to address a particular domain or business problem, such as customer, workforce, supply chain or financial performance management
- Financial performance and strategy Management: Budgeting and planning, financial consolidation, scorecard and strategy management, financial analytics and related reporting capabilities to help simplify, structure and automate dynamic and sustainable financial performance and strategy management practices
- Advanced analytics: Data mining, predictive modelling ‘what if’ simulation, statistics and text analytics to identify meaningful patterns and correlations in data sets to predict future events and assess the attractiveness of various courses of action
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