LAS VEGAS, Oct. 22, 2012 /PRNewswire/ -- At IBM Information On Demand & Business Analytics Forum 2012, IBM (NYSE: IBM) today unveiled a new digital marketing system and big data software designed to help organizations gain actionable insights on the broadest range of data to transform the way they do business with customers, employees and partners. (Photo: http://photos.prnewswire.com/prnh/20121022/NY96976-INFO ) (Logo: http://photos.prnewswire.com/prnh/20090416/IBMLOGO ) The new offerings tackle the most pressing big data challenges facing organizations today -- accessing and gaining intelligence into an enormous stream of data generated from mobile, social and digital networks. The offerings, part of IBM's big data platform, can be up and running in hours, analyze petabytes of industry specific and social media data in sub-second response times, and continuously analyze geospatial, financial services and telecommunications data in motion. According to Gartner, worldwide big data IT spending will grow from $27 billion in 2012 to $55 billion in 2016. Enterprises across all industries are under increasing pressure to extract new insights from an explosion of available data. In communications, six billion global mobile phone subscribers are demanding unique and personalized offerings that match their individual lifestyles. In financial services, Wall Street firms generate five new research documents every minute. In addition, nearly $100 billion in total sales are missed each year because retailers don't have the right products in stock to meet customer demand. As part of today's news, IBM is also bolstering its cloud analytics offerings across industries. The first of its kind portfolio of cloud-hosted applications deliver predictive analytics directly to a company's line of business employees. Financial services, retail, and education industry clients can use the new software to develop personalized insurance renewals, conduct retail purchase analysis, and tailor new programs for student retention through the IBM SmartCloud.