Analytics & Deployment
Version 1’s Advanced Predictive Analytics & Deployment Solution covers the entire data analytics process from conception design through to analytical deployment and refinement
Extract information from existing data to discover usable insights and predict future outcomes. Output is then deployed to your operational systems in a secure and effective environment.
Combining multiple data sources, Version 1’s APAD solution can extract information from existing data to discover usable insights and predict future outcomes. These insights can be deployed directly into your operational systems to make data driven decisions and improve business processes.
Primary Advanced Predictive Analytics & Deployment Solutions
Version 1’s analytical experts can consult and deliver a wide variety of Advanced Predictive Analytics & Deployment solutions. Read more within the sections below.
Version 1 Customer Analytics Solutions use predictive modelling to target the right customers, identify dissatisfied customers by uncovering patterns of buying behaviour, and address customer service issues faster by correlating and analysing a variety of data. This offers you deep insights into what is important to your customer and can help you establish a dynamic, comprehensive view of individual customers and segments, understand what makes them high lifetime value customers, and ensure customer engagements are consistent, personalised and contextual across all touchpoints.
- Understand the way your customers behave and let this understanding help drive your decision making.
- Connect the right product with the right customer.
- Listen to what your customers are saying and use this information to improve services and become more efficient.
Claims management solutions use predictive analytics to help you reduce cycle times and minimize costs while improving the productivity, accuracy, and consistency of your claim-handling process and minimising the risk of fraud.
Claim fraud is increasing and the focus on claim fraud is increasing as well. How do you spot those before a hefty payout is made? Most fraud solutions on the market today are rules-based. Predictive Analytics uses a combination of rules, modelling, text mining, database searches and exception reporting to identify fraud sooner and more effectively at each stage of the claims cycle.
- Combine risk profiles with business rules to resolve legitimate claims in as little as one phone call.
- Streamline claims processes and decision-making, and implement continuous process improvement.
- Make better use of skilled investigators by enabling your staff to focus only on complex claims or high-value suspicious claims.
- Minimise claim payments and reduce fraud with real-time alerts of suspicious activity.
- Improve customer service and keep costs down by streamlining the claim handling process; for example, industry studies show that fast-tracking legitimate claims reduces customer frustration and minimises the likelihood that policyholders will take negative action.
- Decrease the amount of time it takes to process a claim by several days on average by improving claims routing, providing adjusters with suggested tasks and real-time assessment of adjuster statistics.
- Improve subrogation results by focusing on the claims more likely to pay you back.
- Build and use methods for scoring claims particular to state differences, lines of business, or times of catastrophe.
Predictive Maintenance and Quality solutions access multiple data sources in real-time to predict asset failure so that your organization can avoid costly downtime, reduce maintenance costs and improve operational efficiency. Driven by predictive analytics, these solutions detect even minor anomalies and failure patterns to determine the assets and operational processes that are at the greatest risk of failure or that can result in an increased number of faulty products and warranty claims. This early identification of issues helps you deploy limited maintenance resources more cost-effectively, maximise equipment uptime and enhance quality and supply chain processes, ultimately improving financial positioning, customer satisfaction and brand value.
Predictive Maintenance solutions will enable your organization:
- Predict when and where asset failures are likely to occur
- Leverage from the Internet of Things (IoT) sensors readings on instrumented assets
- Combine external data with internal data, such as environmental and weather data with data from Asset Management and Supervisory Control Systems
- Avoid asset downtime and reduce maintenance cost
- Perform root-cause analyses of asset and process failures
- Mine maintenance logs to determine the most effective repair procedures and failure patterns
- Visualize maintenance and operational insights and ensure Operational Efficiency through alarms prioritization and recommendations
Predictive Quality solutions will enable your organization:
- Detect emerging quality problems and reliability issues early enough
- Avoid costly callbacks and lost production
- Reduce scrap work, Inspections effort and Warranty claims
- Make adjustments to predictive maintenance schedules and corrective actions
- Maximise shipping rates cost-effectively
- Improve Brand Value and After Sales Support recommendations
Innovative companies consistently look for ways to achieve their goals more efficiently, quickly respond to market changes and take advantage of emerging opportunities. Predictive Maintenance and Quality solutions can help your organisation continuously improve Operational Efficiency by optimizing existing processes and turning operational data into actionable insights. Opportunities to improve operational efficiency, reduce operational costs and maximise productivity, exist in various operational areas, including:
- Workforce and Resources Scheduling
- Equipment and Spare-Parts Inventory
- Capital and Strategic Planning
- Supply Chain Management
- Building Management
- Energy Efficiency
- Facilities Management
“Choosing SPSS Statistics Base and SPSS Modeler has been very advantageous. Proof lies in the results achieved and the fact that we rely so much on the tools. We will continue to seek other SPSS Inc. tools that will help us gain competitive advantage.”
“With predictive analytics, we were basically able to close a hole in our pocket where money was leaking out steadily. We were also ready to show that this was just the beginning.”
“IBM SPSS predictive analytics software has given us the means to learn systematically from our experience. By learning from the history, we can know today who will buy a given product in the future.”
“Analytics gives us a method of assessing impact of factors that we may not be able to measure directly – so that we can do more with the data we already have, instead of making big investments in high-tech equipment.”
“Course was excellently presented with a clear overview of research and statistics principles and the IBM SPSS Statistics software package. I found it challenging but very informative and a useful introduction to IBM SPSS Statistics.”
Advanced Predictive Analytics & Deployment Case Studies
Case Study – OTP Bank
OTP Bank wanted to improve the speed and efficiency of its mortgage, loans and lease application processes, and make accurate, evidence-based decisions more rapidly than the competition. Upon implementing IBM SPSS Modeler, they can now uncover patterns and predicts risks associated with each applicant. As a result, the bank can quickly identify and approve those with low risks, accurately assessing borrowers’ credits to develop more precise revenue forecasts.
Case Study – Wimbledon High School
The Racket Research Club at Wimbledon High School was given license to use a dataset from All England Lawn Tennis Club (The Championships, Wimbledon) for the purposes of educational analysis and interpretation. Given the scale and size of the dataset, the school was very keen for the girls at Racket Research Club to work with the data to support class and project work and gain valuable data analytics experience. Working with Version 1 and using SPSS software, the school has been able to achieve this objective and expand the scope of their Big Data Research Clubs, including their students in more real-life data science projects offering an unrivalled level of insight and experience.
Case Study – Wichita University
Data describing students was housed in separate data “silos” that were difficult to integrate. This forced the administration of Wichita State University to rely on tradition and intuition to make critical decisions. IBM SPSS Statistics software allows administrators to make evidence-based decisions.
Related resources from our Learning Hub
IBM SPSS Whitepaper – Customer Analytics in Banking
In this white paper, you will learn how your organisation can use customer analytics to understand what customers want and will do next, along with the key capabilities required to effectively conduct customer analytics. Download to find out more.
IBM SPSS Whitepaper – Predictive Analytics Solutions for Education
Download the IBM SPSS Whitepaper Predictive Analytics Solutions for Education to learn more.
What’s New in IBM SPSS Statistics v29?
Looking to quickly learn what’s new in IBM SPSS Statistics 29? Rather than reading a list of changes and new procedures, there is a quick way to tour what’s new and access help. Read our post for more info.
Tech Tips – Count Occurrences within Cases
We have a wide variety of Tech Tips for IBM SPSS created by our SPSS experts. This Tech Tip will help you count occurrences within cases in IBM SPSS Statistics.
Tech Tips – Annotating Nodes in IBM SPSS Modeler
We have a wide variety of Tech Tips for IBM SPSS created by our SPSS experts. This Tech Tip will help you annotate nodes in IBM SPSS Modeler.
Tech Tips – Accessing Help from Output in IBM SPSS Statistics
We have a wide variety of Tech Tips for IBM SPSS created by our SPSS experts. This Tech Tip will help you access Help from Output in IBM SPSS Statistics.
Tutorial – Getting Started with Custom Tables in SPSS Statistics
In this video, the first in our Custom Tables for SPSS Statistics series, our SPSS expert will help you get started with Custom Tables in SPSS Statistics. Presented by our SPSS Data Analyst, this is the first of four videos in the series covering SPSS Custom Tables.
IBM SPSS Whitepaper – Analytics: Real-world use of Big Data in Telecoms
Download the IBM SPSS Whitepaper Analytics: Real-world use of Big Data in Telecoms to learn more.
Tutorial – Running Chi Square Tests in Custom Tables in SPSS Statistics
In this short video, the second in our Custom Tables for SPSS Statistics series, our SPSS expert will help you run Chi Square Tests in Custom Tables for SPSS Statistics.This tutorial will include highlighting significant results, hiding cells with low counts and running multiple chi-square tests within the same table.
Tech Tips – Customising Toolbars
We have a wide variety of Tech Tips for IBM SPSS created by our SPSS experts. This Tech Tip will help you customise toolbars IBM SPSS Statistics.
What’s New in SPSS Statistics v27?
SPSS Statistics v27 was launched in June 2020 with the biggest change compared to v26 being the inclusion of Data Preparation and Bootstrapping as standard functionality, as part of the SPSS Base module. This post will take a high-level look at these changes plus cover off the key enhancements in v27.
Tutorial – Running T-Tests & Building Bar Charts in SPSS Statistics
In this short video, the third in our Custom Tables for SPSS Statistics series, our SPSS expert will focus on running T-tests and building bar charts in custom tables. At the end of this short tutorial, you should be able to conduct a comparison of column means and generate graphs to build better and more visual output.
IBM SPSS Whitepaper – Improving Claims Management Outcomes with Predictive Analytics
Claims management professionals have to deal daily with formidable, and sometimes competing, challenges. Predictive analytics can help overcome the challenges encountered by Insurers. Download the whitepaper.
Tech Tips – Aggregate Records in IBM SPSS Modeler
We have a wide variety of Tech Tips for IBM SPSS created by our SPSS experts. This Tech Tip will help aggregate records in IBM SPSS Modeler.
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Discover More Industry-Specific Solutions
Version 1’s SPSS experts can consult and deliver a wide variety of analytics solutions across a broad range of industry sectors. Find out more at the links below.