E-Business
IBM Introduces 20 Behavior-Based Predictive Analytics by Industry
IBM has introduced 20 new industry-specific solutions with pre-built predictive analytics capabilities that will make it easier and faster for organizations across industries like retail, banking, telecommunications, insurance and others, to uncover and act on critical business insights.
To ensure these solutions address the most critical business requirements in each industry and to optimize the accuracy of the predictive insights, IBM is working with clients and partners across various industries who are innovators in the use of advanced analytics, such as Urban Outfitters, National Grid, Deloitte, Bolsa de Santiago, Interactive Data Managed Solutions, and Bendigo and Adelaide Bank, among others.
The new solutions draw on IBM’s vast industry and analytics expertise from over 50,000 client engagements.
Each solution includes pre-built predictive analytic modeling patterns and interfaces for focused industry use cases, as well as data preparation capabilities to manage unique data and streamline collection and preparation of data for analytics.
With interactive and role-specific dashboards, business users can share predictive insights across teams and organizations that can give them a deeper understanding of their customers, assets and operations to help them make better decisions and act with greater speed and fewer resources.
For example, the solutions will help:
Banks use customer spending patterns to predict financial and life events and deliver more relevant offers.
Retailers understand the potential overall revenue impact of individual products and product lines to make smarter decisions about what products to carry and how to best promote them.
Wealth Management Firms understand behaviors associated with higher profit clients to determine who they should target and how to drive increased activity.
Oil & Gas Companies reduce high costs associated with inspections and maintenance of submersible pumps to predict outages before they occur and optimize production.
Media & Entertainment Companies better understand their audience and viewing behaviors to deliver advertisers higher value micro-segment targeting capabilities.
“We believe organizations need capabilities that enable greater speed and minimize the effort required to generate actionable insights,” said Alistair Rennie, general manager of Analytics Solutions at IBM. “This requires pre-built solutions that are tailored to address each industry’s unique challenges. With today’s news, IBM is putting powerful analytics in the hands of every business user to help them see patterns, pursue ideas and improve all types of decisions impacting their industry.”
For example, financial information and technology firm Interactive Data will be bringing together its high performance financial information platform with capabilities from IBM’s industry analytics solutions to provide its wealth management clients with more mature solutions that allow them to address some of the biggest challenges in the wealth market.
To improve client satisfaction, trust and revenue growth with private clients, financial institutions need to move from mass distribution of products and information to a highly personalized omni-access engagement model which is centered around turning huge amounts of structured and unstructured data into personalized actionable information and making it available at any point in time to advisors and investors.
“Smarter decision making and hyper personalization are at the core of IBM’s new industry analytics solutions. Combining client data, market data and product data with predictive analytics and intelligence in the solution allows us to provide financial institutions with a level of customer insight and service never before accessible to advisors or self directed investors,” said Joachim Lauterbach, president, Interactive Data Managed Solutions.
The new analytics solutions from IBM provide out-of-the-box integration with IBM Customer Engagement solutions, enabling the insights to be used to drive what offers are sent to customers and what is displayed when they visit the website.
IBM Maximo Asset Management has also been pre-integrated, providing enhanced capabilities for work management, job plans, work order tracking, service requests and reporting.
As potential equipment failures are identified, work orders can be generated automatically.
Consultants from IBM Global Business Services can help clients implement and tailor the solutions to fit their needs and broader strategy.
National Identity Management Commission (NIMC) of Nigeria has launched a new digital identity verification tool called the NIN Authentication (NINAuth) application.
The initiative, which forms part of President Bola Tinubu’s Renewed Hope Agenda, aims to strengthen the country’s national digital identity management framework.
The launch builds upon Nigeria’s comprehensive unified digital identity system that has been transforming access to financial services and government programs.
The NINAuth application introduces several key features focused on data security and privacy.
The platform requires explicit user consent before sharing identity information for Know Your Customer (KYC) processes, giving individuals greater control over their personal data.
The system provides seamless access to various government services, including SIM card registration, immigration applications, passport processing, tax filings, and financial transactions.
The development follows significant investment in Nigeria’s digital identity infrastructure, including a $45.5 million support from the World Bank as part of the Digital Identification for Development (ID4D) project.
As the official service for integration with NIMC’s backend infrastructure, NINAuth enables secure verification processes across ministries, departments, and agencies (MDAs).
The application is available for download on both the Google Play Store and Apple iOS App Store for users of the National Identification Number (NIN).
The rollout represents a significant milestone in Nigeria’s ongoing efforts to digitize government services and strengthen identity verification processes.
“NINAuth is a cutting-edge suite of services including web, API, and mobile verification designed to enhance data security, protect privacy, and simplify access to government services,” said Dr. Kayode Adegoke, Head of Corporate Communications at NIMC.
“The platform introduces a robust layer of protection, empowering individuals with greater control over their personal information.”
The implementation supports the objectives of the recently established Nigeria Digital Identification for Development Project Ecosystem Steering Committee, which oversees the country’s digital identity initiatives.
President Bola Ahmed Tinubu has approved the launch of the NINAuth app and directed its use for verification and authentication across all MDAs.
The application provides a secure single sign-on solution for accessing government services and social protection programs while maintaining strict data privacy controls.
The centralized approach to digital identity management represents a significant step forward in Nigeria’s digital transformation journey and its commitment to modernizing government services.
Nigerian Copyright Commission (NCC) has set in motion a machinery to checkmate the booming copyright piracy market in the country.
Copyright piracy is said to cost Nigeria an annual loss estimated at billions of naira.
Despite the absence of a coordinated or official statistics to gauge the quantum of loss, John Asein, director general, NCC, said as far back as 2019, Nigeria lost N918 trillion ($3 billion) annually to digital piracy.
The financial damages severely impact local businesses and innovation efforts.
The commission, in collaboration with the World Intellectual Property Organisation (WIPO), has started a project to develop strategies and tools to address the menace.
Speaking at a stakeholders’ meeting on the WIPO project to address online copyright piracy in Nigeria, Asein said digital technologies have unlocked tremendous opportunities for the creative and innovation sectors.
The NCC boss said technology also poses serious challenges, including online piracy, which he said is growing rapidly.
He said: “Pirate sites continue to emerge rapidly, with statistics indicating a 6.7 per cent increase in user visits. A significant percentage of these users are students aged between 18 and 24, with social media and messaging platforms becoming major gateways for accessing pirated content.”
He added: “No industry is immune. The most affected sectors include television (43.6 per cent), publishing (27.5 per cent), film (12.9 per cent), music (7.0 per cent), and software (6.2 per cent).
“Far beyond mere statistics, the victims are no longer only foreign right owners. Many Nigerians in these sectors have also been bruised and their creative enterprises ruined.”
Nigerian Postal Service (NIPOST) has signed an international mail partnership with KLM Royal Dutch Airlines for improved delivery access to over 200 countries without middlemen.
Tolani Odeyemi, postmaster-general and chief executive officer of NIPOST, described the deal as a “major milestone” for the country’s logistics and postal sector.
In a statement on X on Monday, Odeyemi explained that the new agreement marks NIPOST’s first direct international airline partnership for several years.
“For a long time, NIPOST operated without any direct partnerships with international airlines, relying heavily on multiple third-party handlers,” the Postmaster-General stated. This often resulted in delays, higher costs, and uncertainty around the delivery of packages.”
She explained that under the new arrangement, KLM will directly handle all outbound international mail from Nigeria, eliminating the need for intermediaries.
“This translates to faster and more reliable delivery, reduced risk of loss or damage, lower handling charges, and access to over 200 countries through KLM’s global network,” the Postmaster-General stressed.
According to Odeyemi, NIPOST’s breakthrough came after it began settling long-standing debts owed to international carriers, a step she said was key to “rebuilding global trust” in Nigeria’s postal system.
She revealed that talks were also ongoing with Ethiopian Airlines to bolster regional and continental logistics, particularly on African and Eastern routes.
“Our goal is clear and unwavering: to connect Nigeria regionally and globally, efficiently, securely, and affordably,” Odeyemi asserted.
The NIPOST CEO described the development as a significant win for Nigerian businesses and small and medium-scale enterprises that rely on international shipping, stating, “You now benefit from quicker, more affordable international shipping, greater peace of mind with improved reliability, and new potential to reach and grow in global markets.”
Odeyemi commended the teams behind the scenes and pledged continued improvements in service delivery, adding that the deal signals a turning point for the agency.
Nigerians May Pay More for Calls, Data as Senate Okays 5 Percent Excise Duty
W’Bank Says Cash Transfer Missed Millions of Needy Nigerians
EFCC Tells Nigerians to Shun Ponzi Schemes Like CBEX, Others
NIMC Launches NINAuth Digital Identity Verification App for Govt Services
NCC to Checkmate $3Bn Digital Piracy Market
E-Business2 days agoNIN: FG Increases DoB Update Fee by 75Percent to N28,574
Broadcasting2 days agoAfreximbank Unveils Third Edition of Short Film Competition ‘Creative Africa Nexus’
General News2 days agoNIMASA Embraces Technology to Strengthen Regulatory Mandate
E-Business2 days ago10 Percent of Nigerians Affected by Data Breaches since 2004
Telecom2 days agoMTN Commits $10Bn to Nigeria’s Digital Infrastructure
News2 days agoSERAP Challenges CBN to Publish Local Government Allocations
E-Financial2 days agoSEC Intensifies Fight Against Ponzi Schemes With Market
News2 days agoCFUIS Expands to Nigeria, Boosting U.S. Immigration and Business Opportunities