IBM Launches Cognitive Business Strategy
Oct 07, 2015
IBM is looking beyond connecting things; it's also looking beyond Frost & Sullivan's theory of adding people and processes to the mix to monetize on the IoT explosion. The company is adding a cognitive element, which was first found in Watson.
As we already know, big data is only useful if it's usable, meaning that it's only valuable if it will allow your organization to grow revenues or improve margins. The data explosion in this new era of digital transformation makes it difficult for humans to interpret the data in a meaningful fashion. Organizations look to analytics to help them perform this task.
IBM is adding cognition to analytics, allowing every application, product, process, and service to have thinking capability. What does this mean? Basically, it allows each of these entities to mine for what matters most, to reason across all the data, and to continuously learn.
IBM delivers Watson as digital services in the cloud today. Cognitive Business will enable cognitive capabilities to be incorporated into a much broader range of IBM's products and services. The company has already begun the transformation– per IBM, "we have announced a 2000-consultant strong Cognitive Business Solutions consulting practice in GBS, we launched IBM Cognitive Commerce, entered new markets including Japan with Softbank and the Middle East and North Africa with Mubadala, and opened Watson hubs in Cambridge and San Francisco in addition to Astor Place in NYC. IBM has hundreds of enterprise clients who are using Watson, such as MD Anderson, DBS Bank, and Deakin University. These clients are infusing cognition into supply chains, web self-service in insurance, and with wealth advisors, healthcare providers and automakers."
IBM believes the concept of cognitive can now be applied to everything from healthcare to retail and sports, allowing companies to go beyond digital transformation to "cognitive business."
For more information, check out this link: http://www.ibm.com/cognitive/outthink/
This May marks my 22th year with Frost & Sullivan. Being part of a fast-growing company and dynamic industry, an entrepreneurial culture, and a fun environment is invigorating and worth every moment. My professional and volunteer experience includes business and strategy planning, product and vertical market analysis, growth consulting, event planning and execution, sales and marketing, web design, and most importantly, creating and inspiring teams to be best in class. Consulting projects have ranged from strategy development to white papers to end user analyses. My focus now is to guide visionary CXOs and IT leaders through the next era of digital transformation with the help of a IT experts and analysts across all industries. Prior to joining Frost and Sullivan, I worked for Smith Barney for 5 years in its accounting division handling incentive compensation plans. In this position I was responsible, from an accounting and payroll perspective, for the capital accumulation and deferred compensation plans of top management and account executives. Thereafter, I worked as an account executive at Edward Jones, a brokerage company for approximately one year. In these positions, I learned much about the operations of a financial company, financial instruments, and sales techniques.