The desire for more, better, and increasingly specific analytics continues with IBM’s acquisition of Varicent Software. Banks, insurance companies, and retailers use Varicent software to look at data across finance, sales, human resources and IT departments to determine how to boost sales, according to IBM.
This is just the latest in a series of land grabs for analytics expertise as big IT vendors including Hewlett-Packard, Oracle and, yes IBM, snatch up companies right and left. HP’s purchase of Autonomy last year for more than $10 billion epitomized this lust for the ability to make sense of all the information that is feeding the Big Data boom. SAP bought BusinessObjects a few years ago and Oracle just bought ClearTrial which specializes in analytics for clinical trials a few weeks ago.
While the ink is barely dry, IBM will look to integrate Varicent with its Cognos TM1 financial performance monitoring software; with SPSS predictive analytics and with the overall Cognos 10 business intelligence platform, said Paul Hill, VP of business analytics for IBM.
IBM anticipates business analytics revenue for the company will reach $16 billion by 2015. IBM has been building its R&D and acquisition assets to define this new business opportunity supplementing its existing analytics software portfolio with acquisitions such as Algorithmics, Clarity Systems, Open Pages, Cognos and SPSS.
Terms of the Varicent deal were not disclosed. This buy is the latest, but surely not the last, as the business analytics craze rages on.