Accenture is launching five advanced analytics applications for the resources industries, which include utilities, oil and gas, chemicals and metals and mining companies, to enable insight-driven decision making for improved business outcomes. The new analytics applications are designed to support pricing, risk management, energy trading, credit collection, and workforce planning decisions.
The advanced analytics applications were developed on the Accenture Analytics Applications Platform and are configurable and adaptable to meet the needs of each unique resources company and its individual user, from C-suite to functional manager to data scientist. The new applications are:
- 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.
- 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.
- 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.
The five new applications join the following eight existing applications for the resources industries: Data management, Forecaster Gas, Forecaster Power, Forecaster Renewables, Market Interface, Nomination Interface, Portfolio, and Risk management.
“Companies in the resources industries are seeking immediate access to the tools that can help them to make data-driven decisions and solve complex business issues,” said Kausar Qazilbash, managing director, Accenture Analytics – Resources Industry Lead. “Developed specifically with the resources companies in mind, the new advanced analytics applications can help a business become insight-driven across a variety of its organizations, from sales to risk management to resource planning. As more effective decisions are being made at a swift pace, a new data-driven culture and a competitive advantage will follow suit.”
Accenture’s large suite of advanced analytics applications also includes solutions for the telecommunications, retail, and financial services industries. In addition to Accenture’s ready-made analytics applications, custom applications can also be created to meet a company’s specific needs. Depending on the amount of customization needed – for example, fully configuring to a company’s exact operational work flow process and precise user requirements – applications can be ready for use in approximately one week to 60 days.
Accenture’s advanced analytics applications can be run through the Accenture Insights Platform or on their own. Launched in July 2015, the Accenture Insights Platform is a cloud-based, end-to-end analytics-as-a-service solution comprised of an integrated suite of leading technologies, consumption-based commercial arrangements, and enterprise support.