Octo participates in the IBM Exchange on big data and digital intelligence
Eighty per cent of the world’s data is currently unstructured and effectively invisible to computers. Imagine the possibilities for your business if you could not only peer into that 80% but make sense of it too. What if you could turn it into knowledge to enable you to foresee the future – and then change that future?
“Leading
in the Era of Cognitive Business” Report, IBM
The present is about collecting, analysing and understanding data; the future is about instant pattern recognition. Indeed, Umberto Callegari, Global Head of Digital Octo Telematics, emphasised how “It only takes 1.5 seconds of advance warning to prevent cataclysmic collisions” at the IBM CIO Leadership Exchange (Paris, November 5-6, 2015).
Octo was invited to the IBM event as a trailblazer in the collection and mining of big data. In fact, as a global leader in insurance telematics services, Octo has collected telematics data for over 13 years, analysing over 191 billion data points and developing a 61-terabyte database. Octo currently connects ca. 4 million drivers around the world.
Octo has also recently presented a new app – Octo U – that integrates big data collection with the “forensic analysis” of driver behaviour. This new service, developed in partnership with IBM and The Weather Company, allows drivers to understand their driving habits and encourages safer driving. Moreover, as Umberto Callegari points out, “checking driving data will eventually become a daily habit.”
Notwithstanding the growing amount of data that is collected and our steady journey towards a sensor-laden networked world, IBM reports that ca. 90% of the information generated by the Internet of Things is never collected or analysed, and 60% of it loses value within seconds, but it will not be long at all before an increasing amount of data becomes instantly available.
Indeed, enterprises will soon be able to gather and analyse data from a variety of locations in real-time to truly garner a pattern recognition capability that will save lives, time and money, whilst increasing both safety and comfort. It is what IBM Chairman, President and CEO Ginni Rometty describes as “journey to become a cognitive bank, to become a cognitive retailer, to build a cognitive supply chain.” And as a global pioneer and leader in insurance telematics, Octo is ready to unleash the full potential of the “Era of Cognitive Business.”
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