Software was in development for six years
Mining real-time data for potential issues and to help eliminate problems is important for all sorts of businesses. From hospitals to chipmakers to automotive manufacturers, looking at real-time data is the key to improving any multiple step process.
IBM is set to release a new software application designed specifically to help any business with a process requiring multiple steps to monitor the data in real-time. The software is called IBM System S and has been under development for six years.
IBM's Nagui Halim said, "[The software is useful for] anything that has a situation where vast amounts of data are available at real-time."
Halim told Reuters, "As businesses go more and more online, as more and more of what they do becomes available digitally, with cars, equipment and sensors ... there's this rising tide of information. Generally, people store the data, and they try to understand it later. What we're saying is, it's hard to do that, and by the time you get around to looking at it later the events of interest may be over."
The software will be unveiled at the annual IBM analysts event today. Most will be looking closer at IBM's business outlook than the new software though. Analysts are mostly expecting IBM to reconfirm its prediction of $10 to $11 per share earnings despite slow sales due to the troubled economy.
IBM reported revenues dropped by 11% in April, a number higher than expected on Wall Street. Cost cutting measures helped dampen the loss and IBM still expects a 2009 profit of no less than $9.20 per share.
IBM will face still competition with its new software offering from the likes of Oracle Group and Microsoft as well as a bevy of small companies with similar offerings.