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Predictive Analytics: 4 Primary Aspects of Predictive Analytics

Smart Data Collective

Predictive analytics, sometimes referred to as big data analytics, relies on aspects of data mining as well as algorithms to develop predictive models. The applications of predictive analytics are extensive and often require four key components to maintain effectiveness. Data Sourcing.

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How Data Analytics Is Changing The Insurance Industry

Smart Data Collective

The insurance industry is based on the idea of managing risk. To determine this risk, the industry must consult data and see what trends are evident to draft their risk profiles. The twenty-first century offers a lot of exciting innovations when it comes to data processing and analytics. Seeing Into the Future.

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What is data analytics? Analyzing and managing data for decisions

CIO Business Intelligence

What is data analytics? Data analytics is a discipline focused on extracting insights from data. It comprises the processes, tools and techniques of data analysis and management, including the collection, organization, and storage of data. What are the four types of data analytics?

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Ways Data Analytics Helps Business Owners Resolve Financial Issues

Smart Data Collective

Data analytics has arguably become the biggest gamechanger in the field of finance. Many large financial institutions are starting to appreciate the many advantages that big data technology has brought. Markets and Markets estimates that the financial analytics market will be worth $11.4 billion in the next two years.

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How Data Analytics Can Change the Way In-House Legal Departments Do Business 

Smart Data Collective

Legal analytics is an evolving discipline that is changing the future of the legal profession. Law firms are expected to spend over $9 billion on legal analytics technology by 2028. But what is legal analytics? Last year, we published an article on the ways that big law and big data are intersecting.

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Improve Underwriting Using Data and Analytics

Cloudera

Insurance carriers are always looking to improve operational efficiency. We’ve previously highlighted opportunities to improve digital claims processing with data and AI. To me, this means that by applying more data, analytics, and machine learning to reduce manual efforts helps you work smarter.

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Think Big – Applying Analytics to Injury Claims Is the Next Challenge for Law Firms

Smart Data Collective

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.

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