IBM overhauls analytics service

IBM has released a new data analytics platform for enterprises.

The company said that the new Smart Analytics System would target areas such as financial analysis, risk management and data grid and records management. The service combines database analysis with other data sources such as web pages and email archives.

IBM hopes that the new offering will increase the use of analytics tools by dramatically reducing the time needed to produce reports and results. By combining the companies software and hardware lines with hosted services, the company claims that the new package can return results to companies in a matter of days.

"Our clients are operating in a competitive environment," said IBM information management general manager Ambuj Goyal.

"With the Smart Analytics System, we are helping clients take advantage of analytics faster, more efficiently and at a lower cost, helping them achieve better business results and accelerate their return on investment."

In addition to a more efficient operation, IBM is also touting the space and energy savings for the new offering. The company said that the Smart Analytics System also requires just half of the storage space of its previous offering while running at roughly three times the speed.