By Rob Starr, Big4.com Content Manager
Accenture Analytics recently launched five advanced analytics applications for the utilities, oil and gas, chemicals and metals and mining companies industries that support pricing and risk management as well as several other functions. These five new tools complement eight existing applications already in place for the same industry. All were developed on the Accenture Analytics Applications Platform and Kausar Qazilbash, managing director, Accenture Analytics – Resources Industry Lead supplied some email responses to our questions about the venture.
How is this new announcement part of the larger Accenture Analytics thrust?
Accenture Analytics is focused on helping clients around the globe become insight-powered enterprises. To help companies attain the insights needed to transform business issues into desired outcomes, we offer our clients analytics talent, strategy and solutions that can enable them to make swifter and more informed decisions.
For example, this year we launched the Accenture Insights Platform (AIP) – a cloud-based, end-to-end analytics solution designed to deliver real-time actionable insights – and the Accenture Analytics Applications Platform – a scalable platform that develops industry- and function-specific advanced analytics applications that can be used in conjunction with the AIP solution.
Most recently, we announced the launch of five new advanced analytics applications for the resources industries, which include utilities, oil and gas, chemicals and metals and mining companies. Developed on the Applications Platform, the applications are reusable, configurable and adaptable to meet the needs of each unique resources company and its individual users.
What are these five new advanced analytics applications about?
Accenture’s new advanced analytics applications are:
For Utilities, Oil and Gas, Chemicals, Metals and Mining Companies
• Workforce Management – Optimizes the workforce planning and management process by forecasting the time to execute work activity and the number of incoming calls at a call center, and recommending the optimal number of workers needed in the field or on the job daily.
For Utilities and Oil and Gas Companies
• Cross-Border Trading Optimization – Simulates and evaluates the prices of gas, oil, power and more in different markets and time zones, providing portfolio managers and traders with insights that can help them to choose the best buy and sell options for each day and improve their profitability.
For Utilities Companies
• Credit Collection – Supports the credit collection process by recommending a debt recovery plan for individual customers, the preferred channels to reach them, and next best actions to perform for the customer such as a discount.
• Energy Fraud Detection – Provides fraud risk scores to any event, helping companies to identify risks or improper behavior that could result in losses.
• Pricing – Estimates the price for an energy sales offering in real-time considering the expected company margins, commodity price and pricing fees.
Additionally, the following eight advanced analytics applications are also available for resources companies: Data management, Forecaster Gas, Forecaster Power, Forecaster Renewables, Market Interface, Nomination Interface, Portfolio, and Risk management.
What industry needs will they service?
The new analytics applications place key insights at users’ fingertips to enable insight-driven decisions for improved business outcomes. They can be fully configured to meet a company’s exact operational work flow process and its specific user, from C-suite to functional manager to data scientist.
In addition to supporting the resources industries, Accenture also has a large suite of advanced analytics applications for the telecommunications, retail, and financial services industries. Custom applications can also be created to meet a company’s specific need.
What are they designed to do?
The new analytics applications for the resources industries are designed to support pricing, risk management, energy trading, credit collection, and workforce planning decisions.
What future plans does Accenture Analytics have?
Analytics is the fuel in the digital world and Accenture is committed to helping clients in the resources industries and beyond tap into this fuel to solve their business problems quickly and create value and a competitive advantage. With new data sources and technologies on the rise and analytics becoming more accessible across the enterprise, new data-driven opportunities will continue to unfold for companies everywhere. As the analytics landscape evolves, we’ll continue to develop and adapt our analytics capabilities to help our clients democratize data, experiment with data, and transform data into an engaging and useful asset that can provide actionable intelligence to help them defend and disrupt in their markets.