Accenture and MIT Form Alliance for Advanced Analytics Solutions

  Accenture and MIT Form Alliance for Advanced Analytics Solutions

 New collaboration will develop tools and techniques focused on big data and
                               decision science

Business Wire

NEW YORK & CAMBRIDGE, Mass. -- March 13, 2013

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$27.9billion 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.

Contact:

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