Accenture and MIT Form Alliance for Advanced Analytics Solutions

Wed Mar 13, 2013 8:30am EDT

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New collaboration will develop tools and techniques focused on big data and
decision science 
NEW YORK & CAMBRIDGE, Mass.--(Business Wire)--
The Massachusetts Institute of Technology (MIT) and Accenture (NYSE: ACN) today
announced a five-year research collaboration to develop advanced analytics
solutions. The alliance`s research aims to close the gap between the advance of
analytics technologies and their successful application in specific industry and
government environments. 

The Accenture and MIT Alliance in Business Analytics combines Accenture's
industry and analytics expertise with MIT's scientific and technological
leadership. Its two streams of collaboration cover the challenges of harnessing
big data and new approaches to improve the science of decision-making. The
alliance will be headed by Narendra Mulani, senior managing director, Accenture
Analytics, and David Simchi-Levi, professor of civil and environmental
engineering and engineering systems at MIT. 

"Organizations recognize the need to develop analytics capabilities that turn
data into actionable insights in order to attain a competitive edge and growth,"
said Mulani. "The challenge comes in fine tuning and applying analytics
technologies to very specific issues and our studies show that organizations are
not currently satisfied with the return on their analytics investment. Our
alliance with one of the world`s most prestigious research institutes will help
our clients achieve better outcomes driven by their analytics efforts." 

A recent Accenture study of organizations in the United States and the United
Kingdom revealed that the adoption of analytics is growing and that, compared to
a similar analysis conducted three years ago, the use of analytics as a
primarily predictive tool has tripled. However, only 22 percent of the
respondents said they were very satisfied with the business outcomes delivered
by their analytics investments to date and only 39 percent said that the data
they generate is relevant to their business strategies. 

"Through our collaboration with Accenture we believe we can make important
progress in creating new knowledge and in tackling some of the many data
challenges faced by organizations today," said Simchi-Levi. 

The research on big data will cover how organizations can exploit the insights
available from the growing volume of external, unstructured data. MIT, Accenture
and Accenture clients will explore innovative uses of various data types and
develop practical applications of advanced analytics. The parties will also
identify ways to combine disparate data sources such as geolocation data, social
media data and payments data, to solve unique industry problems in innovative
ways. 

The decision science research will explore differentiators of effective
decision-making and identify factors critical for its successful execution.
Projects in this stream will help companies apply trends in visualization,
mobility and collaboration to improve decision-based processes. They will also
look into the role cognitive science plays in decision-making. 

Examples of projects include: 

Life event monitoring: Events such as marriage, home purchases and small
business expansion are likely to change people`s financial needs. This research
aims to identify new analytics methodologies that help predict life events in
advance of their occurrence. These methodologies could help a financial services
firm refine its ability to approach consumers or small businesses with tailored
offerings, just when these offerings are becoming highly relevant for a
customer. 

Behavior data integration and offers platform: A company that knows which
locations in a city its clients are likely going next could target its offerings
accordingly. The project will develop a real-time system to achieve that goal,
based on an analytical framework that relates daily trip routes extracted from
big data to statistical behavioral models of people`s activities in cities. 

Social media causal monitoring: This project explores how product launches
impact social media activity and how social media monitoring can help forecast
demand and improve product pricing, placement and distribution. 

As part of the Alliance`s program, MIT and Accenture will also undertake further
research to explore the correlation between analytics capabilities and
investments and the resulting business outcomes. The quantitative analysis will
benchmark organizations` analytics capabilities to help them determine
strategies that are appropriate to their level of analytics maturity. 

Click here for further information on the Accenture and MIT Alliance in Business
Analytics. 

About Accenture

Accenture is a global management consulting, technology services and outsourcing
company, with 259,000 people serving clients in more than 120 countries.
Combining unparalleled experience, comprehensive capabilities across all
industries and business functions, and extensive research on the world`s most
successful companies, Accenture collaborates with clients to help them become
high-performance businesses and governments. The company generated net revenues
of US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is
www.accenture.com. 

About MIT

The Massachusetts Institute of Technology is one of the world's pre-eminent
research universities, dedicated to advancing knowledge and educating students
in science, technology, and other areas of scholarship that will best serve the
nation and the world in the 21st century. It is known for rigorous academic
programs, cutting-edge research, a diverse campus community, and its
longstanding commitment to working with the public and private sectors to bring
new knowledge to bear on the world's great challenges. For more information on
MIT, see http://web.mit.edu.

Accenture
Jens R. Derksen, + 49 175 57 61393
jens.derksen@accenture.com
or
MIT
Leslie Sheppard, + 617-500-5274
lsheppar@mit.edu

Copyright Business Wire 2013

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