IBM is releasing a business intelligence (BI) and analytics suite, dubbed Business Analytics Enterprise, that it says is designed to help companies break down data silos and barriers to collaboration caused by the use of varied sets of analytics tools across different divisions.
In doing so, companies can better face growing challenges including supply chain disruptions, labor shortages and evolving regulations, IBM said.
The new suite — comprising a new Analytics Content Hub as well as enhanced versions of Planning Analytics with Watson and Cognos Analytics with Watson — provides business intelligence tools capabilities for budgeting, reporting, and forecasting data across different divisions, the company said.
The suite, announced Thursday, is also an effort on IBM's part to increase its market share in the growing business intelligence and analytics software market. The market, which includes players such as Microsoft, Tableau, Incorta, Alteryx, Oracle and TIBCO Software, is estimated to be around $7 billion, according to market research firm Gartner.
Analytics Content Hub to allow analytics access across vendors
The new Analytics Content Hub, according to the company, is designed to allow enterprise users to access analytics and planning tools from multiple vendors in a single window or dashboard.
Additionally, it features algorithms that can recommend role-oriented content to help users surface new stories, reports, and dashboards from across their organization, to aid in decision-making, the company added.
Further, the Hub can analyse usage patterns to recommend content that aligns with a user or division’s specific interests, IBM said.
Updates to IBM Cognos Analytics with Watson
As part of the new suite, the company said that it is updating its pre-existing analytics services – Cognos Analytics with Watson and Planning Analytics with Watson.
IBM’s Cognos Analytics with Watson, which is an AI-based self-service program for creating dashboards and reports, has been updated with the ability to consider seasons and other, multiple factors while performing trend analysis, IBM said.
Additionally, IBM Planning Analytics with Watson, an AI-based service that helps streamline financial and operational planning, is expected to be available as a service on AWS later this year, it added.