Economics

IHS Advanced Analytics Solutions

Extract actionable, valuable insight from complex data

Insights derived from the explosion of "Big Data" are transforming business - from driving more effective marketing and reducing supply chain disruptions, to decreasing time to market. Yet many organizations struggle to find the value. Despite investing millions in big data analytics technology and services, they're left wondering which data to use, how to find and connect it, and even what questions to ask of the data.

IHS Markit applies sophisticated, advanced analytics to complex data – of any scale - to extract actionable, valuable insights that lead to better decisions. We embed advanced analytics into our subscription-based solutions and work directly with customers to deliver customized solutions.

With deep expertise in your industry and the forces that shape it, IHS Markit asks the right questions to solve your business challenges. We connect the right data - relevant, reliable, and hard to find - on high performance analytics platforms. And we apply the right blend of advanced analytics to find the answers you need.

For example, Advanced Analytics Solutions can help customers:

More effectively target sales/marketing efforts with predictive automotive buyer behavior profiles
Plan for maritime market expansion with reliable, long-range fleet supply and demand forecasts
Visualize complex data to quickly spot trends and opportunities in defense markets
Reduce time to market through engineering efficiencies
Accurately project costs based on market specific dynamics
Solve challenges unique to your business

Case Study: PANAMA CANAL AUTHORITY: MORE RELEVANT AND ACCURATE FORECASTS

Challenge
Working with the Panama Canal Authority (ACP), IHS Markit convened a workshop of ACP representatives from each stakeholder group to discuss the challenge of accurately forecasting traffic through the canal. The goal was very specific:
1 – Identify the data needed for accurate forecasting.
2 – Define the analytics and models needed to extract insight from the data.
3 – Develop the tools and visualizations that communicated these insights.

Solution
A workshop leader moderated the discussion, asking stakeholders for information and insight, and drafting outlines and visualizations for participants to critique. The discussion allowed stakeholders to hear others' perspectives and build consensus.

Results
The result was a significant expansion of the type of data that was needed as well as changes in tool design, structure, calculations, and final visualization of the solution. By having the group work together, new details of trade flows and canal operations came to light, resulting in a more robust model and more accurate forecasts.

How IHS Markit Delivers Customer Insights From Complex Data

Challenge	Solution
Extracting actionable, valuable insight from complex data	Experts in your industry and domain who frame the right questions, connect the right data, and apply advanced analytics to uncover insights unique to your business
Asking the right questions of complex data	Deep understanding of how interconnected dynamics influence your business, including economic, industry, regulatory, technology, supply chain and geopolitical trends
Using the right data for answers you need	Access to a comprehensive collection of reliable, up-to-date, and hard-to-find data from IHS Markit and trusted partners, tailored to suit your analytical needs
Applying the right advanced analytics to gain valuable insights	Team of data scientists and analysts with deep expertise in your industry, applying customized advanced analytical models or the right COTS tools as needed