CIO Business Intelligence

JUNE 7, 2022

What is data analytics? Data analytics is a discipline focused on extracting insights from data. The chief aim of data analytics is to apply statistical analysis and technologies on data to find trends and solve problems. What are the four types of data analytics?

Data Analytics 135

Data Analytics Diagnostic Analytics Management Analytics 135

Decision Management Solutions

APRIL 15, 2019

In February, we published a blog post on “Using Technology to Add Value in Insurance.” In that post, I referenced Matt Josefowticz’s recent article – Technology May be the Answer for Insurers, but What Was the Question? , in which he argues that there are only three levers of value in insurance: 1. Sell More.

Insurance 63

Insurance Technology Predictive Analytics Sales 63

Smarten

JULY 30, 2018

How Can Predictive Analysis Tools Help My Hospital or Healthcare Organization? Hospitals and healthcare systems are turning to predictive analytics tools to plan and forecast and understand what, when and how to support patients.

Predictive Analytics 40

Predictive Analytics Analytics Predictive Modeling Forecasting 40

Decision Management Solutions

MARCH 25, 2019

Nancy Casbarro and Deb Zawisa of Novarico recently published a new paper on Data Science in Insurance: Expansion and Key Issues subscription required) that was summarized in this nice little article on Dig-in 3 challenges facing insurers in data science implementation. 1 – Getting business buy-in.

Insurance 75

Insurance Data Science Testing Modeling 75

Smart Data Collective

JANUARY 12, 2022

Data analytics has arguably become the biggest gamechanger in the field of finance. Markets and Markets estimates that the financial analytics market will be worth $11.4 Companies in the financial sector aren’t the only ones discovering the benefits of using data analytics for financial management. Fraud risks.

Data Analytics 116

Data Analytics Analytics Finance Data mining 116

Decision Management Solutions

FEBRUARY 27, 2019

Matt Josefowticz wrote a great piece recently – Technology May be the Answer for Insurers, but What Was the Question? In this he argues that there are only three levers of value in insurance: 1. Manage Risk Better (aka underwriting and adjusting). Sell More. Cost Less to Operate. Sure, when that makes sense.

Insurance 40

Insurance Technology Business Driver Predictive Analytics 40

Smart Data Collective

MARCH 3, 2021

The legal sector is still in its infancy when it comes to big data and analytics. Lawyers and law experts are trying to figure it out, and consternation continues to shadow some corners because not everyone can quite understand what analytics is and how it can improve the personal injury law industry.

Analytics 128

Analytics Big Data Predictive Modeling Insurance 128

IBM Big Data Hub

MAY 9, 2024

Healthcare organizations need a strong data governance framework to help ensure compliance with regulations like the Health Insurance Portability and Accountability Act of 1996 (HIPAA) in the US and the General Data Protection Regulation (GDPR) in the EU. Inaccuracies might also lead to more delays or complications with insurance coverage.

Data Governance 66

Data Governance Data Quality Insurance Predictive Analytics 66

IBM Big Data Hub

OCTOBER 30, 2023

IBM, a pioneer in data analytics and AI, offers watsonx.data, among other technologies, that makes possible to seamlessly access and ingest massive sets of structured and unstructured data. Real-time data analytics helps in quick decision-making, while advanced forecasting algorithms predict product demand across diverse locations.

Insurance 77

Insurance Data Warehouse Data-driven Unstructured Data 77

Smart Data Collective

DECEMBER 9, 2020

Consumers are also looking for new machine learning tools to help mitigate their daily risks and solve some of their most perplexing challenges. Data from these accidents is used to train machine learning algorithms to identify correlating risk factors with car accidents. How nuanced can these machine learning risk analyses really be?

Machine Learning 139

Machine Learning Risk Insurance Predictive Analytics 139

Sisense

NOVEMBER 5, 2020

It will also give you access to advanced technologies like predictive analytics, which can help you get ahead of trends, alert you to staffing issues, skill gaps, and market fluctuations, and provide guidance in an uncertain world. Bottom line: You need a mature people analytics program to really impact business outcomes.

People Analytics 85

People Analytics Analytics Metrics Digital Transformation 85

datapine

OCTOBER 21, 2020

One of the most notable areas where data analytics is making big changes is healthcare. In fact, healthcare analytics has the potential to reduce costs of treatment, predict outbreaks of epidemics, avoid preventable diseases, and improve the quality of life in general. 1) Patients Predictions For Improved Staffing.

Big Data 364

Big Data Data Analytics Analytics Cost-Benefit 364

Smart Data Collective

JANUARY 17, 2020

From predicting risk factors to helping cure disease, Big Data in healthcare is multi-faceted. Through the use of Big Data, opioid usage can easily be tracked and any risk factors for the potential misuse of opioids can be flagged before they happen. The market for big data in healthcare is growing 22% a year.

Big Data 104

Big Data Insurance Risk Testing 104

Smart Data Collective

MAY 21, 2019

There are several ways that predictive analytics is helping organizations prepare for these challenges: Predictive analytics models are helping organizations develop risk scoring algorithms. Insurance providers might require them to have adequate safeguards to get compensated for any damages.

Big Data 77

Big Data Cost-Benefit Predictive Analytics Insurance 77

Smart Data Collective

SEPTEMBER 28, 2022

For example, if you want to know what products customers prefer when shopping at your store, you can use big data analytics software to track customer purchases. Big data analytics can also help you identify trends in your industry and predict future sales. Information management mitigates the risk of errors. Conclusion.

Big Data 106

Big Data Management Data Quality Cost-Benefit 106

bridgei2i

JULY 8, 2020

They discuss the impact of the pandemic on enterprises and the need to adopt parallel windows – a short term window to get an enterprise’s operational system up and running as effectively as possible, and a medium-term outlook to mitigate the supply chain shocks and risks. Tune in, and don’t forget to subscribe!

Digital Transformation 132

Digital Transformation Enterprise Insurance Risk 132

Smart Data Collective

SEPTEMBER 15, 2019

Spotify developed a new tool last year called Publishing Analytics that helps music companies get the most value of their data. Choosing a niche with big data and predictive analytics. You can use big data and predictive analytics to gauge trends in the music industry and see what will be popular in the future.

Big Data 78

Big Data Optimization Insurance Predictive Analytics 78

FineReport

APRIL 9, 2024

The implementation of robust healthcare data management strategies is imperative to mitigate the risks associated with data breaches and non-compliance. By integrating advanced analytics solutions, healthcare organizations can elevate their capacity for data-driven decision-making.

Digital Transformation 52

Digital Transformation Business Intelligence Data-driven Visualization 52

Domino Data Lab

JULY 28, 2021

There are many software packages that allow anyone to build a predictive model, but without expertise in math and statistics, a practitioner runs the risk of creating a faulty, unethical, and even possibly illegal data science application. This almost always results in lack of adoption, and can also expose an organization to risk.

Data Science 110

Data Science Statistics Recreation/Entertainment Predictive Analytics 110

IBM Big Data Hub

FEBRUARY 14, 2024

Clean up with predictive maintenance AI can be used for predictive maintenance by analyzing data directly from machinery to identify problems and flag required maintenance. Maintenance schedules can use AI-powered predictive analytics to create greater efficiencies. See what’s ahead AI can assist with forecasting.

Cost-Benefit 82

Cost-Benefit Insurance Unstructured Data Machine Learning 82

IBM Big Data Hub

JULY 11, 2023

AI-enabled robots can work around sensitive organs and tissues, reducing blood loss, infection risk and post-surgery pain. Census Bureau , 28 million Americans didn’t have health insurance in 2020, and even those with insurance don’t always have coverage for every type of screening they need.

Deep Learning 54

Deep Learning Cost-Benefit Insurance Machine Learning 54

Smart Data Collective

NOVEMBER 12, 2021

Companies have found that data analytics and machine learning can help them in numerous ways. While hiring outside your business’s home country does carry some added risk, you can minimize this through research of international hiring guides and investing in partnerships. There won’t be a need to find and hire staff with the know-how.

Data-driven 104

Data-driven Cost-Benefit Data mining Big Data 104

Sisense

MARCH 27, 2019

Unlike traditional models that look at historical data for patterns, real-time analytics focuses on understanding information as it arrives to help make faster, better decisions. To provide real-time data, these platforms use smart data storage solutions such as Redshift data warehouses , visualizations, and ad hoc analytics tools.

Business Intelligence 74

Business Intelligence Data Warehouse Predictive Modeling Visualization 74

Cloudera

SEPTEMBER 7, 2023

With AI, financial institutions and insurance companies now have the ability to automate or augment complex decision-making processes, deliver highly personalized client experiences, create individualized customer education materials, and match the appropriate financial and investment products to each customer’s needs.

Insurance 87

Insurance Risk Data-driven Finance 87

Cloudera

JANUARY 5, 2023

This is especially so in industries like telecom, retail, healthcare, manufacturing, insurance, and financial services. What will determine the winners from the laggards will hinge on the speed at which predictive analytics can be executed, and the cost-benefit ratio related to these algorithmic paradigms.

Cost-Benefit 52

Cost-Benefit Business Objectives Machine Learning Data Architecture 52

datapine

OCTOBER 11, 2023

3) Top 15 Warehouse KPIs Examples 4) Warehouse KPI Dashboard Template The use of big data and analytics technologies has become increasingly popular across industries. It allows for informed decision-making and efficient risk mitigation. Key Takeaways From Warehouse Management KPIs The world of data and analytics is here to stay.

Metrics 217

Metrics KPI Management Cost-Benefit 217

Decision Management Solutions

MARCH 12, 2020

Neal Silbert of DataRobot had an interesting post on the DataRobot blog last week – Outcome-Based Claims Assignment: The “New Grail” of Insurance. These review assignments are based on things like the complexity of the claim as well as various risk factors.

Insurance 69

Insurance Modeling Testing Management 69

Smart Data Collective

DECEMBER 5, 2019

They offer cheap prices for flight and focus on selling additional bags, meals, complete trip packages, and flight insurance as a way of making money. Predictive analytics will be used much more in airline marketing in the months to come. New machine learning technology is making things much easier.

Machine Learning 63

Machine Learning Cost-Benefit Strategy Insurance 63

CIO Business Intelligence

APRIL 15, 2022

Organizations across every industry have been and continue to invest heavily in data and analytics. But like oil, data and analytics have their dark side. According to CIO’s State of the CIO 2022 report, 35% of IT leaders say that data and business analytics will drive the most IT investment at their organization this year.

Analytics 145

Analytics Machine Learning Insurance Testing 145

Smart Data Collective

AUGUST 29, 2022

Did you know that 53% of companies use data analytics technology ? Machine Learning Helps Companies Get More Value Out of Analytics. There are a lot of benefits of using analytics to help run a business. You will get even more value out of analytics if you leverage machine learning at the same time. Predictive analytics.

Analytics 115

Analytics Predictive Analytics Machine Learning Insurance 115

Domino Data Lab

JANUARY 24, 2019

In a similar vein, in 2018 Forrester split apart its “Wave” for predictive analytics products into two distinct Waves. For example, an insurance company could task a team of expert data scientists to work collaboratively in a code-first platform to develop their proprietary claims risk models.

Data Science 65

Data Science Marketing Data-driven Statistics 65

Corinium

APRIL 25, 2019

Ahead of the Chief Data Analytics Officers & Influencers, Insurance event we caught up with Dominic Sartorio, Senior Vice President for Products & Development, Protegrity to discuss how the industry is evolving. Are you seeing any specific issues around the insurance industry at the moment that should concern CDAOs?

Insurance 150

Insurance Risk IoT Cost-Benefit 150

DataRobot Blog

MAY 25, 2022

The DataRobot AI Cloud Platform can also help identify infrastructure and buildings at risk of damage from natural disasters. With DataRobot, professionals and organizations impacted by natural disasters can solve an array of difficult predictive analytics questions and rapidly gain value from their data. Learn more.

Risk 52

Risk Insurance Predictive Modeling Predictive Analytics 52

AWS Big Data

MARCH 27, 2024

Achieving this will also improve general public health through better and more timely interventions, identify health risks through predictive analytics, and accelerate the research and development process. For step-by-step instructions, refer to Real-time analytics with Amazon Redshift streaming ingestion.

Data Analytics 103

Data Analytics Analytics Data Warehouse Data Lake 103

Cloudera

NOVEMBER 4, 2020

Insurance is no different. Insurance is not something the average consumer thinks about every day but when a life changing event happens, insurance becomes extremely important. It is in this “Moment of Truth” that insurers excel or fail. To provide the best price, the insurer needs to better understand their customer.

Insurance 119

Insurance Machine Learning Risk IoT 119

Cloudera

JUNE 23, 2021

Climate change is a challenge for insurers in some obvious ways, such as stronger and more frequent natural disasters. Yet there are also more subtle risks to monitor, including changes to insured assets, risks, and exposures. These kinds of nuanced risk assessments require comprehensive solutions.

Insurance 52

Insurance Risk Modeling Risk Management 52

Domino Data Lab

JULY 22, 2019

You know, case in point, if you were to talk about predictive analytics 20 years ago, the main people in the field would have laughed you out of the room. Predictive analytics, yeah, not so much.” You know, companies like telecom and insurance, they don’t really need machine learning.”

Data Science 109

Data Science Machine Learning Data Governance Modeling 109