Bow River Solutions & Oscar Cruz Presenting on June 15, 2017
Predictive Analytics for Monitoring, Maintaining and Optimizing Assets
Join us on June 15th, 2017 at 11:30am for our presentation by Oscar Cruz: How Asset Intensive Organizations Employ Machine Learning and Predictive Analytics to Monitor, Maintain and Optimize Assets for Better Availability, Utilization, and Performance. We look forward to sharing with you tips on how to save on maintenance costs, and improve the availability of your assets using predictive analytics. BMO Centre, Calgary, AB- Production (Arabian Room B)
- June 15, 2017
- 11:30 am – 12:00 pm
Overview:
Asset-intensive industries in Calgary, such as oil & gas, mining, energy and utilities, use complex equipment such as rotary, compressors, haul trucks, and turbines, in their day-to-day operation. Any unplanned downtime or major unforeseen failure of this equipment has a direct impact on production downtime, which affects the financial performance of the organization. Potential component and equipment failure, plus machine health of in-service equipment needs to be monitored by identifying early signs of possible downtime. The goal of our solution is to maximize the uptime of the component/equipment. Driven by machine learning, Artificial Intelligence and predictive analytics we can detect even minor anomalies and failure patterns to determine the assets and operational processes that are at the greatest risk of problems or failure. This early identification of potential concerns helps to deploy limited resources more cost effectively, maximize equipment uptime and enhance quality and supply chain processes and helps you monitor, analyze, and report on information that is gathered from high-value assets and recommend maintenance activities for them. Benefits: • Predict the failure of a monitored asset in order to fix it and avoid costly downtime • Search stored maintenance logs to determine the best repair procedures and cycles • Identify the root causes of asset failure to take corrective actions • Predict where, when, and why asset failures are likely to occur • Minimize product quality and reliability issues to meet customer delivery schedules. • Optimize spare-parts inventory to reduce inventory costs associated with stockouts and overstocks. • Predict warranty claims to increase customer satisfaction. • Inform upcoming issues to planning and budgeting teams prior to costly event failures occurring. We look forward to seeing you at this year’s Global Petroleum Show in Calgary.
Hear What Customers Are Really Saying
IBM Watson Analytics for Social Media
Market analysis is not new and at this point social media is really not new either. (You’ve seen the messages that you’ve been friends for over 8 years, memories from 5 years ago!) It’s time to start making the most out of Social Media and what we can gather about how customers feel, brand reputation, problems or concerns, what customers want, and so much more from Social Media Analytics. We have had customers in Calgary, Edmonton and Western Canada analyzing their marketing campaigns for years – since we started helping them with Business Intelligence in 2005. Now we can do so much more and so quickly with advanced software like Watson Analytics for Social Media. This tool can help you save time, reduce brand risk, increase revenue, and reduce costs – all through real time insights provided through Social Media Analytics. Analyzing audiences by demographics and geography is standard for marketing campaigns but this is just scratching the surface of the potential. With IBM’s Watson Analytics for Social Media it is possible to get real time responses to basics like demographics and geography of people talking about products or businesses – but then with sentiment analysis, influencer identification, natural language processing, and image analysis; the bigger picture becomes very apparent and very quickly. Sentiment Analysis
One of the strengths of Watson Analytics for Social Media is the ability to process the sentiment behind reviews, blogs, tweets, re-tweets, and other online information. There are accessible metrics available to show the number of tweets on a topic. Not as many that can give you a good picture of the positive versus negative sentiment behind these tweets – and include other sources as well including reviews, blog posts, video descriptions and comments, news etc. Watson Analytics can include all of these sources and summarize the sentiment across topics and present in a visually appealing fashion.
Influencer Identification
Maybe you need to access that one person that has a wide audience, or maybe you want to only see what true influencers – ones with over 1000 followers – have to say about your product. Watson Analytics makes this happen.
Natural language processing
Ask questions using natural language to easily uncover insights into data – all without an advanced technical skillset. Once again we are talking about Not Needing to be a Data Scientist to work with data and understand exactly what’s going on. You’ve worked with your business for years – you’re the business expert. Now you can ask questions like a business expert and not a statistician or computer scientist.
Image analysis
With a rich understanding of visual images Watson Analytics can include more than just text analytics to help you understand what people are saying about your business or brand.
Putting all of these options together it is possible to come to conclusions and make fully educated decisions based on the results of your analysis. Watson Analytics for Social Media doesn’t leave the demographics or geography behind either – you can also view responses by gender, or region as well, in addition to other demographics and geographic information.
Industry Usage
There are many benefits to industry in being able to get the direct message from their customers. Watson Analytics for Social Media provides this fly on the wall perspective merged with a big picture view. Here’s a few examples of how businesses can make the most out of this advanced software: Security and Risks – brand risks and community perspective are an important aspect of businesses even without a direct tie to consumers – such as those in oil and gas. Social Media advisors are expected to use social media to protect the company and overcome perception challenges. Watson Analytics for Social Media’s prebuilt visualizations and filters can highlight relevant content quickly providing immediate insights. Hospitality industries can immediately benefit from social media analytics with understanding trends, being proactive about responding to customer opinions. More than this it is possible to respond to analysis results with supply management and staff scheduling. Tracking the market share is also highly relevant and helpful. Retail industry can gather real-time feedback on styles, desires and service feedback. No longer will it take months of planning only to order the wrong colours or wrong products, the time frame is now immediate. Product Owners need feedback on existing product features or feedback on proposed features. Competitive intelligence can also put a company at advantage. WASM can be used to prepare the sentiment analysis and user feedback that would take months to gather through surveys or other market analysis. With additional topics suggested by Watson Analytics for Social Media it’s possible to find what you weren’t even looking for as well. Sales representatives – can easily understand the needs of their market and prospects and at the same time understand perceptions of their products versus their competition. All with almost no training. Event planning of all sorts can be enhanced through social media analytics. Understanding potential response and demand will help you with supply chain decisions, staff requirements and other capacity requirements. Universities and Higher Education facilities can better respond to student needs, feedback and actively market based on key influencers when the information is in your hands Technology companies can understand outages and provide real-time insights that are simply invaluable. Be that fly on the wall and understanding just what is thought of your brand – and understand how you can improve with new insights can be invaluable. Ask us how you can get a free trial of Watson Analytics for Social Media and how we can help you understand the topics and themes necessary to analyze your business and provide immediate insights to reduce costs, increase revenue, save time, and reduce risks. Contact us at info@bowriversolutions.com or (587)-885-1090.
Cognos Analytics Versus Watson Analytics
Two Products for Business Analytics
IBM now has two business analytics offerings that our customers in Calgary, Edmonton, Saskatchewan and British Columbia have been using and evaluating. Cognos Analytics is the long standing product evolving from Cognos -> Cognos ReportNet -> Cognos Business Intelligence -> Cognos Analytics and now Watson Analytics – the new offering using cognitive analytics and natural language originating from Watson that competed on Jeopardy. With these two analytic products the question comes up – Which one do I need?Cognos Analytics
Cognos Analytics has evolved significantly from its roots in Ottawa, Canada back in 1969. The main selling feature for years was their PowerPlay Cubes for quick top down analysis, and slicing and dicing data in so many ways. The offerings changed significantly over the years but became a more complete offering in 2008 when purchased by IBM and combined with the extensive research and development and other tools that IBM has had to offer. The core of Cognos Analytics is still that easy access to corporate information – but with so much more now. Cognos Analytics is moving more and more into business users self service access to information. With both Cognos Analytics and Watson Analytics IBM is reducing the technical skillset needed for more advanced analytics – empowering users as they progress in this direction. This has been discussed previously in our post on So You’re Not a Data Scientist… So What! Cognos Analytics is a truly complete business analytics offering for professional reports, dashboards, self service information access, emailed reports and more. This one tool provides the complete picture of where you are and where you need to go. This is the tool that allows users to make analytics part of their daily work routine with information at their fingertips and a reduced IT backlog. In addition, the sharable features of Cognos Analytics helps to build a community within the organization – with the all important single source of the truth.
Watson Analytics
Watson Analytics is the new kid in town when it comes to Business Analytics. However, this does not mean it’s lacking in power. On the contrary, Watson Analytics is a very powerful tool that has many benefits to adding to your toolkit. The primary strength is in the simplicity – this is the epitome of empowering end users and reducing the necessary technical skillset. There is no need at all for an IT background or a degree in Statistics in order to find the gold in endless columns of data and even unstructured data such as social media analytics. Using natural language it becomes very easy to ask questions and immediately see reports that address those questions with options to drill in or filter to more specific data or alternative views to answer similar questions. Watson Analytics allows for immediate visual understanding of information with key exception reporting. No longer are you searching through data for a vital piece of information – this information stands out immediately. Not only does a user not need to understand a SQL statement like“Select name, location, age from table1 join table2 on table1.primarykey = table2.key where table2.lostTimeIncident > 2”
But that user doesn’t even have to drag and drop and create a report or design a report specification. A user can simply type in:“Tell me about the lost time incidents”
Watson Analytics guides data exploration and by doing so a user can immediately see all of the lost time incidents and drill in to find any issues such as locations that are at higher risk, departments, etc. Watson Analytics – More Capabilities Watson Analytics can take things one step further with automated predictive analytics providing answers and new insights. Uncover patterns, correlations and key drivers in your data. Reveal unbiased insights – all without that highly technical data scientist skill set. Business users that truly understand their data will be empowered with new data discoveries. All of this with the ability to tell a powerful story through charts, dashboards and automated visual representations. Watson Analytics also makes data preparation very easy – it can be as easy as uploading a spreadsheet of data or connecting to a cloud data source – with an automatically produced quality report. Refinement can be completed on top of this – creating new groups, calculations or hierarchies. All in an easy to accomplish fashion – easier than Excel. Then immediate guided exploration is possible. One additional benefit of Watson Analytics is in Social Media Analytics. This provides a truly powerful and insightful view of your company or industry with insights about what people are saying including a sentiment analysis feature that quickly summarizes what people are saying to identify customer trends and consumer sentiment. Curious about Watson Analytics? We can help you get set up with their free trial! To get your Watson Analytics Free Trial email us at info@bowriversolutions.com
Watson Analytics Versus Cognos Analytics?
It’s great that IBM has these two products and they each have some very distinctive advantages. If you’re looking for business intelligence without a huge technical skillset you have options! So how do you decide which one you should use and why? First of all with Cognos and Watson Analytics it isn’t necessarily an either/or decision. These two products serve two distinct needs and can effectively build on one another. It doesn’t have to be a choice of one or the other. However, because there are distinct usages of each it helps to point out that Cognos Analytics excels at the operational reporting and providing easy access to accurate information, and Watson Analytics excels in the Data Discovery/Predictive Analytics/and Pattern Analysis area. Cognos Analytics tends to be more focused on the professional report side with easy viewing and sharing of information. Watson Analytics leans towards data discovery – showing you what you didn’t know to ask. When comparing Cognos Analytics and Watson Analytics what it really comes down to is if you’re looking for a traditional (but highly advanced!) business intelligence implementation with professional reports and a shared environment then Cognos Analytics is going to provide a next generation solution for your business. If you’re looking for new data discovery with a new way of analyzing your business including predictive analytics and social media analytics – then Watson Analytics is the answer. We can help you discover what is best for your specific needs with a custom needs assessment. Call us for a needs assessment or for your free trial of Watson Analytics (587)-885-1090 or email us at info@bowriversolutions.com. It really can be that easy to make better decisions, quickly, and more accurately… today.
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Interested in learning more about SPSS and how it can help you? Give us a call at (587)-885-1090 or email at info@bowriversolutions.com
Predictive Analytics Workshop for Business
The focus of this workshop is to introduce businesses and corporate professionals to predictive analytics and show how it can be applied to their roles and industries. This is a great introduction to anyone interested in learning more about statistics and software and what it means for their business. This is a beginner class so no experience is required.
Participants will learn about Predictive Analytics, Data Mining and IBM SPSS Modeler software and take a hands-on tour of Modeler at our complimentary three-hour instructor led session.
Get hands-on experience with IBM SPSS Modeler software to help you better understand the distinctive value of its easy-to-use, rapid-prototyping, predictive modeling and deployment capabilities.
Experience
Experience the intuitive, interactive IBM SPSS Modeler interface, which features expert nodes for experienced analysts and automated modeling capabilities for novices.Instruction
Get step-by-step guidance through 3 common applications of predictive analytics: finding patterns and groups, using the past to predict the future and decision optimization.Application
Apply automated data preparation that incorporates structured and unstructured data, predictive techniques, and deployment options to real-world business issues.Predictive Analytics Workshop
(Business Session)
with SPSS Modeler
Wednesday May 28th, 2014
1:00pm – 4:30pm
Calgary, AB
IBM Calgary Headquarter
(Rocky Room B)
227 11 Ave SW
Interested in future events like this? Give us a call at (587)-885-1090 or email at info@bowriversolutions.com
Sponsored By
Bow River Solutions Inc.
Predictive Analytics Workshop – Public Session
Experience
Experience the intuitive, interactive IBM SPSS Modeler interface, which features expert nodes for experienced analysts and automated modeling capabilities for novicesInstruction
Get step-by-step guidance through 3 common applications of predictive analytics: finding patterns and groups, using the past to predict the future and decision optimization.Application
Apply automated data preparation that incorporates structured and unstructured data, predictive techniques, and deployment options to real-world business issuesPredictive Analytics Workshop
(Public Session)
with IBM SPSS Modeler
Wednesday May 28th, 2014
8:30am – 12:00pm
Calgary, AB IBM Calgary Headquarter (Rocky Room B) 227 11 Ave SW
Sponsored By:
Bow River Solutions Inc.