- Category: October 2014 - Marketing Automation
According to Forrester Research, most organizations use only 12% of their data, leaving a wealth of untapped information across the enterprise that could be leveraged to make smarter decisions.
Now, IBM announced the availability of a cognitive-infused Watson Explorer that equips users with the information and analytics capabilities which can help them to deliver better performance and real-time results.
Watson Explorer advances core cognitive components by providing organizations the ability to quickly use natural language processing capabilities and data exploration to discover valuable business information in both structured and unstructured data, improving that way the quality and speed of their decision making
Indeed, advances data exploration is provided by bringing cognitive capabilities, giving users a 360-degree view of contextually relevant information for deeper levels of insights that show what is happening and why.
Unlike traditional search solutions that fail to provide context, trends and relationships, Watson Explorer can help professionals find and understand the information they need to work more efficiently, gain more insights from their unstructured content and realize their objectives of improving business outcomes.
New Watson Explorer features include advanced content analytics capabilities, giving users a view into structured and unstructured data. Watson Explorer provides the bridge between cloud-based services and on-premise proprietary information, making it the logical first step in a Watson journey.
Today's business environment demands an ability to make high quality decisions more quickly than ever before, against a rapidly expanding set of inputs. Enterprise data and applications are typically siloed and lack the information sharing capacity to facilitate better employee performance.
Take, for example, a customer service representative at a global retailer: Hundreds of billions of customer service calls are handled annually, during which an average customer service representative interfaces with over ten different systems per call, requiring them to move between different applications, run multiple searches, mentally correlate the information and respond to the customer, all in real-time – a monumental undertaking. When a customer calls with questions, representatives face a struggle to create a consistently excellent experience for their customer due to challenges in finding, organizing, analysing and correlating the right information for that specific customer at that moment.
Cognitive exploration can enhance a user's ability to use information to make more informed, evidence based decisions. It does this by providing information and understanding from relevant sources, much like a human would. With Watson Explorer, for example, a representative is able to ask a question in natural language and instantly retrieve relevant content, expertly culled from a variety of data sources, both structured and unstructured. Watson Explorer's content analytics feature leverages the power of natural language processing to enable organizations to extract meaning from content such as customer comments, messages, social media, legal documents and research reports
"Exploration of data is part of a journey toward discovery of valuable information to help organizations make critical business decisions," said Stephen Gold, vice president, IBM Watson Group. "We are continually looking for ways to provide enterprise customers with tools that will make a difference to their employees and drive results for their bottom line. Watson Explorer brings cognitive capabilities to users at every level, giving them real-time access to the valuable information often locked in structured and unstructured data."
Exploration enables users to uncover new possibilities. However, exploration in complex, heterogeneous environments present unique challenges with massive volumes of data spread across a variety of sources and a limited ability to understand the connections that exist in the data.
To speed up the time, Watson Explorer connects information from a range of internal and external sources, analyzes that content and looks for underlying relationships or patterns that help interpret information:
- Explore: Watson Explorer combines content and data from many different systems throughout the enterprise and public sources and presents it to users based on their role and current activities, which can dramatically reduce the amount of time spent looking for information, and increasing their ability to work smarter. In today's information-rich environment, few important tasks can be completed with information from a single source—whether the task is to assist a customer, plan a marketing strategy for a new product or investigate a security breach. Watson Explorer brings data and analytics from many sources, as well as relevant cognitive insights to a user's desktop or mobile device, in a context-appropriate manner to enable them work with confidence.
- Analyze: For many organizations, the growing volume of unstructured data represents untapped business opportunities. Documents, e-mail messages, call center transcripts and social media are examples of the kinds of content that may yield a wealth of insights that can help improve business performance if gathered and analyzed by the right tools. Watson Explorer's content analytics capabilities enable users to uncover trends, patterns and correlations from unstructured information using natural language processing technology, delivering insights in hours or days rather than or weeks or months. Those insights are then available to users in real-time as a 360-degree view.
- Interpret: Watson Explorer provides the ability to integrate a growing list of IBM Watson Developer Cloud services for an enhanced experience leveraging the combined strength of exploration, analytic and cognitive capabilities. As new capabilities are developed by IBM and exposed in the Watson Developer Cloud, they will be made available to qualified Watson Explorer users who license the Watson Developer Cloud services. The available services for integration with Watson Explorer at the time of release are: Question Answer, User Modeling, Relationship Extraction, Message Resonance, Concept Expansion, Language Identification and Machine Translation.
Watson Explorer is currently available as two principal offerings:
- Enterprise Edition provides search and 360-degree information applications across multiple sources, as well as the ability of qualified customers to license cognitive services from the Watson Developer Cloud to help enhance, scale, and accelerate human expertise.
- Advanced Edition includes all of the capabilities of Enterprise Edition plus advanced content mining and content analytics to help organizations take the next step with advanced content mining and analytics capabilities to aggregate, analyze and visualize massive amounts of unstructured content to expose new insights.
IBM Watson represents a new era of computing in which apps and systems interact with human users more naturally, augment our knowledge with Big Data insights, and learn to improve how they assist us. Fueled by innovation from a mission to transform industries and professions, Watson is uniquely positioned at the forefront of the new era of computing, evidenced by an unmatched demonstration of what cognitive systems can bring to transform decision-making.
In January, 2014, IBM launched the IBM Watson Group, a new business unit dedicated to developing and commercializing cloud-delivered cognitive advisors. The move signifies a strategic shift by IBM to deliver a new class of software, services and apps that think and improve by learning, and discover insights from massive amounts of Big Data. Therefore, IBM is investing $1 billion into the Watson Group, focusing on development and research and bringing cloud-delivered cognitive applications and services to market. This includes $100 million available for venture investments to support IBM's ecosystem of start-ups and businesses building cognitive apps made with Watson.