4 innovative use of technology

Cloud, Big Data, Analytics, Mobile and Social are used to help businesses address heightened consumer expectations for seamless, connected experiences. Below are four such innovations in different sectors:

Analytics for ATMs ATM analytics allows a bank to track its ATM network to help predict outages due to cash shortages or maintenance issues. Predictive analytics can help suggest cash refill and ATM maintenance strategy. Based on predictive model suggestion, it can point precise locations of ATMs, where action needs to happen. The technology helps in reducing reporting turnaround time and optimises ATM cash planning in the bank. Further it provides the ability to quickly determine and mediate machine outages.

Effective commodity trade forecasts using Big Data Based on Big Data and Analytics, another innovation is targeted at suppliers of commodities such as wheat and rice. Wheat is grown in Punjab, for example, and its yield is heavily dependent on weather. The ideal temperature for its growth is 25-35 degrees centigrade. However, if the temperature increases to around 40 degrees centigrade, then the yield is going to drop. Also, it needs to be stored in granaries, which needs to be at temperature of around 24 degrees centigrade. The crop also has a limited shelf life of a week. So, gap between demand and supply will lead to increase or decrease in wheat prices. By using Big Data this difference in demand-supply can be managed.

Emergency Help via Internet of Things and Remote Patient Monitoring Another new innovation is around the use of Internet of Things (IoT) technology that can be used to help remotely monitor patients’ conditions. It help physicians and doctors to analyse the patients’ health status and provide medical consultation anywhere, anytime. The tool can also make use of data from diagnostic sensors, which are connected to a wearable device. Via the cloud, data from the wearable device connects with an application running on Bluemix, which analyses relevant health information and then informs the attendant and the doctor of any problems. This instrumented solution could be especially useful in urgent medical situations by connecting emergency vehicles with a Bluemix-based centralised traffic control, transmitting positioning data and enabling traffic control to clear the traffic for the vehicle.

Insights for Predictive Marketing Predictive marketing integrates social analytics and smarter commerce products to provide insights into personalised cross-channel marketing campaigns. The innovation can enable marketers to “pivot” from analysing anonymous social identities to reach real consumers with customised messages. Analysis of social media can provide an additional input in the creation of models that predict customer behavior. The outcomes can enable an organisation to interact with them in a way to enhance experience across each touch point. As a result, the innovation can support businesses to leverage the relevant information from social media for productive decision making. They will be able to understand their differentiators and competitors vulnerabilities.

From: http://cio.economictimes.indiatimes.com/

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