Cognitive technology and Big Data using IBM Watson Trend
IBM has introduced in Spain Watson Trend, an application that uses cognitive abilities (natural language understanding, analysis of big data and learning) IBM Watson to show consumers what are the main buying trends and predict gifts that will be more Popular in three categories: consumer electronics, toys and health/fitness. The company, which already showed the capabilities of this tool in the last holiday season, keep it moving cognitive capabilities of IBM Watson to new areas of our daily lives.
“In a safe time we have all turned to social networks, blogs, forums, etc, to seek opinions before deciding to buy something. So in IBM began to see the possibility of collecting all of that collective knowledge that millions of people turn over every day to help customers make more informed purchases, “said Carmen Garcia, director of IBM Commerce Spain. ”We needed to have a system with cognitive capabilities and IBM Watson is the solution. It is able to understand the context, tone and meaning of the talks. Interpreted and transformed into recommendations to help find products and make suitable gifts.”
IBM Watson Trend, available for free at Apple Store and Google Play, analyses daily tens of millions of online conversations over 10,000 sources, especially social media, blogs, forums, comments or ratings. Identifies patterns in all of them and discover the true consumer opinion regarding the items that have bought or are considering buying. With all that information produces a ranking or daily ranking of the 100 most fashionable products worldwide in three main categories: consumer electronics, toys and health / fitness.
How watson trend works
To develop the ranking, which classifies products with a number from 0 to 100, Watson Trend measures both the size of the conversation starring as the pace grows conversation. The tool shows and what the emerging trends of the day, i.e. those products that have more climbed in the ranking have broken or are harder.
Moreover, beyond the classification of trends, Watson Trend allows us to enter each recommended for more detailed information products. Clicking individually on each of them access to a much wider tab, divided into three sections: “context”, a brief explanation of why that product is trend and what the story behind his; “Opinion”, which will give us some examples and quotations of specific views; and “graphics”, which shows the evolution of the trend in recent months and predicts what will during the next three weeks (21 days). By using analytical technologies to offer a prediction on how the trend will evolve in the coming weeks, we can see if it is a fad or item will continue to be sued for longer. So we can plan purchases or allow businesses to better manage their stocks.
Cognitive technologies transforming the sector breakdown
The distribution sector is undergoing unprecedented change over the last decade, which has gone from offering discounts to launch massive and indiscriminate personalized based on the tastes and characteristics of each form consumer deals. Predictive analytics has facilitated this transition and specifically cognitive computing is helping distributors to address these changes and redefine the sector.
The study “Thinking like a customer. Cognitive future in the distribution sector “, developed by IBM and has had the participation of 100 managers of distribution companies worldwide, reveals that cognitive solutions are already helping to transform the industry. In fact, 91 percent of respondents is familiar with this technology and believes it will play a disruptive role in your organization. Also, 94% of those who claim to know the cognitive computing confesses that try to invest in these solutions.
IBM has also identified several areas for improvement in the distribution sector under study, 47% of managers are not making the best strategic decisions, 51 percent say lack of quality data and reliable and 65 percent values that are not on the client with the right speed.
IBM Watson and Cognitive Computing
IBM Watson is a pioneering cognitive technology has opened a new era of computing. IBM Watson is not programmed as today’s computers, but understands the natural language of people, he is able to answer complex questions from its powerful ability to analyse large volumes of structured (databases) and unstructured data (books, blogs, social networks, news articles, videos, images, etc.) and also learns from experience. Designed to collaborate, interact and broaden the intellectual capacity of people, IBM Watson can process information more like a human than a machine.
The IBM Watson system was “presented to society” in January 2011 in the TV show Jeopardy! in which he won the top two contestants in the history of this program, being able to answer questions posed in natural language. Since then, IBM Watson has evolved considerably and expand its capabilities and is accessible via the cloud.
The aim of cognitive computing is to help people make better decisions, based on the analysis of information and big data. Thus, in addition to the kitchen, IBM Watson is being used as an advisor and support professionals in their decision making. For example, in sectors such as health, to help doctors tailor treatments; financially, to support financial professionals in their task of advising their clients; or in education, guiding students about their possible educational routes, future occupations, etc.