Advanced analytics: Accenture launches new suite for resources industries

Accenture is in the process of launching five advanced analytics applications for the resources industries including the utilities and oil and gas industries.

Designed for the utilities, oil and gas, chemicals and metals and mining companies, the analytics applications are designed to support pricing, risk management, energy trading, credit collection and workforce planning decisions, states the company.

The analytics solutions including workforce management, cross-border trading optimization, credit collection, energy fraud detection and pricing were developed on the Accenture Analytics Applications Platform. They are adaptable to meet the requirements of each company and individual user.

Advanced analytics solutions

Under Accenture’s workforce management analytics solution, resource companies are able to optimise workforce planning and management process by forecasting the time to execute work activity. The optimum time to address tasks can then be allocated.

Cross-Border Trading Optimization involves the simulation and evaluation of the prices in the gas, oil, power sector and in different markets and time zones. This affords portfolio managers and traders insight into the ‘best buy and sell’ options for improved profitability.

Credit collection supports debt collecting practices, through the recommendation of 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.

The energy fraud detection advanced analytics solution provides fraud risk ratings to any event, assisting companies to identify risks or behavior that could result in losses.

Lastly, Accenture’s pricing analytics estimates the price for an energy sales offering in real-time taking into account expected company margins, commodity price and pricing fees.

Kausar Qazilbash, managing director, Accenture Analytics – Resources Industry Lead said: “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.”

“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.”