Cognos Analytics with Watson 11.2.3 release has arrived with new features and enhancements that reinforce IBM's commitment to delivering an AI-Powered personal analytics experience that provides sophisticated data exploration, analysis and demonstration capabilities to enable business users to make better decisions
Cognos brings good news in almost all of its components in this 11.2.3 release, such as dashboards, reports, data modules and an exciting possibility to embed Cognos dashboards in Microsoft Teams to increase collaboration efficiency.
In this blog you will see what is new in AI features in Cognos Analytics 11.2.3 release
Making decisions knowing already what will happen in the future is everyone's wish. And we currently have only two ways to try to predict the future: by consulting crystal balls and other supernatural powers, or by using statistics and artificial intelligence to make data-driven decisions. And one of the most exciting features of Cognos Analytics is the one that allows the user to predict future results by analyzing past trends
Until the 11.2.2 release, Cognos Analytics had what we call univariate forecast, which means that the user can use the forecast feature considering just one factor (in addition to time) as a parameter to predict future results.
In 11.2.3, IBM has incorporated into Cognos Analytics an exclusive capability called Multivariate Time-series Forecasting. It means, that now the user can forecast using multiple parameters.
A simple and didactic use case:
The company wants to predict its profit in the coming months. This company can use the simple time series forecast to, based on past profit trends, predict what will happen in the future. In this case, we are talking about the univariate forecast. However, it would also be nice if the forecast considers other parameters, like sales, total expenses, marketing costs, or even different seasons. In this case, we would use this industry-leading new feature, the multivariate forecast.