Data partnerships are a key ingredient in IBM’s long-term strategy, and the company is announcing a big one on Tuesday with the Weather Company.
For IBM, the deal represents another close link with a leading data supplier for special access and joint development. Last fall, it forged a similar arrangement with Twitter, the social network, whose tweets of 140 characters or fewer are a global wellspring of consumer sentiment.
IBM also said that it planned to invest $3 billion in the next four years to build up an Internet of Things business group. The two announcements are related since so much of the new data that corporations want to analyze to spot ways to increase sales and cut costs will increasingly come from Internet-connected devices, from smartphones to sensors.
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One likely application, IBM said, was in auto insurance. Insurers pay more than $1 billion in claims in the United States for cars and trucks damaged by hail. Adding Watson analysis to WSI’s weather data, the company said, could enable insurers to send text-message alerts to policyholders, warning them of an imminent hailstorm and advising them of safe locations nearby. Such a service, IBM calculates, has the potential to save insurers up to $25 per policyholder in hail-prone regions, or millions of dollars a year.
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For IBM, the deal represents another close link with a leading data supplier for special access and joint development. Last fall, it forged a similar arrangement with Twitter, the social network, whose tweets of 140 characters or fewer are a global wellspring of consumer sentiment.
IBM also said that it planned to invest $3 billion in the next four years to build up an Internet of Things business group. The two announcements are related since so much of the new data that corporations want to analyze to spot ways to increase sales and cut costs will increasingly come from Internet-connected devices, from smartphones to sensors.
[---]
One likely application, IBM said, was in auto insurance. Insurers pay more than $1 billion in claims in the United States for cars and trucks damaged by hail. Adding Watson analysis to WSI’s weather data, the company said, could enable insurers to send text-message alerts to policyholders, warning them of an imminent hailstorm and advising them of safe locations nearby. Such a service, IBM calculates, has the potential to save insurers up to $25 per policyholder in hail-prone regions, or millions of dollars a year.
- More Here
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