Smart Data Collective

SEPTEMBER 28, 2022

In this blog post, we’ll explore some of the advantages of using a big data management solution for your business: Big data can improve your business decision-making. Big data is a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools.

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Big Data Management Data Quality Cost-Benefit 104

CIO Business Intelligence

JUNE 7, 2022

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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Data Analytics Diagnostic Analytics Management Analytics 123

Smart Data Collective

NOVEMBER 9, 2021

The average consumer is unaware of the phenomenal benefits that big data provides. One of the biggest benefits of big data is that it can help improve driver safety. Data analytics technology is becoming more useful when it comes to stopping traffic accidents.

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Big Data Manufacturing Risk Insurance 131

Smart Data Collective

JULY 16, 2023

Big data technology has undoubtedly changed the financial industry in extraordinary ways. We usually talk about the benefits of big data from the perspective of financial institutions such as hedge fund managers, insurance companies and banks. billion on financial analytics last year.

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Big Data Marketing Strategy Insurance 77

Smart Data Collective

MAY 8, 2022

Many fleet management companies were reluctant to embrace the power of big data a decade ago. Their skepticism has waned significantly, as they have finally started to discover the countless benefits that big data has to offer for their industry. The fleet management industry is no exception. Keep reading to find out.

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Optimization Data Analytics Management Analytics 103

Smart Data Collective

AUGUST 7, 2019

We have talked extensively about the fields that rely most heavily on big data. The insurance industry is one of the companies investing the most in big data technology. Exactly one year ago today, SNS Telecom & IT published a report highlighting the demand for big data in the insurance industry.

Big Data 76

Big Data Insurance Cost-Benefit Risk 76

Smart Data Collective

MAY 27, 2021

The automotive industry has been far more reliant on big data than most other sectors in recent years. A growing number of major automobile manufacturers have started using data analytics and AI to improve production. There have been a number of clear advantages of using big data to manufacture automobiles.

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Data Analytics Manufacturing Big Data Analytics 122

Smart Data Collective

JANUARY 12, 2022

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 Your credit score.

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Data Analytics Analytics Finance Data mining 116

Smart Data Collective

FEBRUARY 2, 2021

Big Data is more than a trend or a buzzword. In 2020, the size of the global Big Data market reached 56 billion, and it’s on track to exceed 103 billion by 2027. Consumers are generating huge amounts of data at a rapid rate, and it is estimated that up to 90% of all data was generated only in the past two years.

Big Data 84

Big Data Recreation/Entertainment Cost-Benefit Finance 84

Sisense

MAY 4, 2020

In his article in Forbes , he discussed how some of the biggest names in global business — Nike, Burger King, and McDonald’s — and progressive newer entrants to huge sectors like insurance, are embracing data and analytics technology as a platform on which to build their competitive advantages. Organizations must adapt or die.

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Big Data Data-driven Snapshot Unstructured Data 78

bridgei2i

JUNE 23, 2021

6 Ways AI Is Taking The Insurance Industry Into The Future. For example, the insurance industry is witnessing a strong acceleration in the adoption and growth of AI for task automation, improvement of service quality, and data-driven decision making. Insurance is a resource-intensive field. Claim Handling. Underwriting

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Insurance Risk Deep Learning Data-driven 52

Smart Data Collective

JANUARY 26, 2022

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. We have had time to observe some major developments of legal analytics over the last year.

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Data Analytics Analytics Predictive Analytics Insurance 72

Smart Data Collective

APRIL 11, 2019

Big data is playing a monumental role in economic development in 2019. It is being used in every industry from healthcare delivery to insurance modeling to political science. According to economic analysts, the market size for big data is currently estimated to be $203 billion. Here are some of the reasons.

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Big Data Insurance Statistics Technology 76

Sisense

AUGUST 19, 2020

Disrupting Markets is your window into how companies have digitally transformed their businesses, shaken up their industries, and even changed the world through the use of data and analytics. The use of big data analytics and cloud computing has spiked phenomenally during the last decade.

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Big Data Machine Learning Digital Transformation Marketing 52

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.

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Analytics Big Data Predictive Modeling Insurance 126

AWS Big Data

MARCH 27, 2024

You can then use visualization tools such as Amazon QuickSight to build dashboards or use Amazon Redshift ML to enable data analysts and database developers to train machine learning (ML) models with the data integrated through Amazon Redshift zero-ETL.

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Data Analytics Analytics Data Warehouse Data Lake 93

Smart Data Collective

SEPTEMBER 16, 2020

Predictive analytics, sometimes referred to as big data analytics, relies on aspects of data mining as well as algorithms to develop predictive models. Without big data in predictive analytics, these descriptive models can’t offer a competitive advantage or negotiate future outcomes.

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Predictive Analytics Analytics Predictive Modeling Data mining 121

AWS Big Data

MAY 28, 2024

Large language models (LLMs) such as Anthropic Claude and Amazon Titan have the potential to drive automation across various business processes by processing both structured and unstructured data. For getting data from Amazon Redshift, we use the Anthropic Claude 2.0 For client interaction we use Agent Tools based on ReAct.

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Smart Data Collective

NOVEMBER 12, 2021

Big data technology has been instrumental in changing the direction of countless industries. Companies have found that data analytics and machine learning can help them in numerous ways. However, there are a lot of other benefits of big data that have not gotten as much attention. Here’s why.

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Data-driven Cost-Benefit Data mining Big Data 103

Smart Data Collective

JUNE 30, 2022

Smart companies realize that analytics technology needs to be at the core of their business models. One of the most important ways that analytics can help companies thrive is by improving their logistics. Analytics Technology Helps Companies Bolster their Logistics Strategies. It is also a case of business survival”.

Analytics 110

Analytics Cost-Benefit Analytics Technologies Big Data 110

CIO Business Intelligence

APRIL 28, 2022

Right from the start, auxmoney leveraged cloud-enabled analytics for its unique risk models and digital processes to further its mission. Particularly in Asia Pacific , revenues for big data and analytics solutions providers hit US$22.6bn in 2020 , with financial services companies ranking among their biggest clients.

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Analytics Insurance Big Data Uncertainty 78

IBM Big Data Hub

FEBRUARY 14, 2024

Other uses include Netflix offering viewing recommendations powered by models that process data sets collected from viewing history; LinkedIn uses ML to filter items in a newsfeed, making employment recommendations and suggestions on who to connect with; and Spotify uses ML models to generate its song recommendations.

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Cost-Benefit Insurance Unstructured Data Machine Learning 83

Smart Data Collective

FEBRUARY 28, 2022

A growing number of banks, insurance companies, investment management firms and other financial institutions are finding creative ways to leverage big data technology. The market size for financial analytics services is currently worth over $25 billion. Fortunately, big data is also a boon for cybersecurity as well.

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Data-driven Strategy Big Data Cost-Benefit 93

CIO Business Intelligence

JANUARY 19, 2023

The research, conducted by International Data Corporation (IDC) and commissioned by SUSE surveyed 838 respondents in 11 Asia/Pacific countries across a range of industries such as financial services and insurance, telecommunications, and government.

Software 113

Software Enterprise Digital Transformation Insurance 113

CIO Business Intelligence

AUGUST 29, 2022

Worldwide IT leaders are adopting and integrating a sustainable approach to their business models,” says Sanjay Singh, executive vice president and head, Alphabet and HCL Google Ecosystem, HCL. “A Adopting a sustainable model mindset across the enterprise fosters an environment for collaboration, innovation, and entrepreneurship.

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Enterprise Internet of Things Measurement Finance 72

IBM Big Data Hub

OCTOBER 12, 2023

Connecting AI models to a myriad of data sources across cloud and on-premises environments AI models rely on vast amounts of data for training. Once trained and deployed, models also need reliable access to historical and real-time data to generate content, make recommendations, detect errors, send proactive alerts, etc.

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Cost-Benefit Metadata Data Governance Modeling 78

AWS Big Data

JANUARY 30, 2023

We examine a hypothetical insurance organization that issues commercial policies to small- and medium-scale businesses. The insurance prices vary based on several criteria, such as where the business is located, business type, earthquake or flood coverage, and so on. getOrCreate() #Define the table schema schema = StructType().add("policy_id",IntegerType(),True).add("expiry_date",DateType(),True).add("location_name",StringType(),True).add("state_code",StringType(),True).add("region

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Insurance Data Lake Data-driven Management 82

Domino Data Lab

JULY 28, 2021

Data science is a field that uses math and statistics as part of a scientific process to develop an algorithm that can extract insights from data. All models are not made equal. Universally, models have a basis in statistics and probability, from linear regression to decision trees to support vector machines.

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Data Science Statistics Recreation/Entertainment Predictive Analytics 110

Cloudera

SEPTEMBER 15, 2022

Manufacturing, where the data they generate can provide new business opportunities like predictive maintenance in addition to improving their operational efficiency. Retail, where big data is used across all stages of the retail process—from product development, pricing, demand forecasting, and for inventory optimization in the stores.

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Metadata Big Data Optimization Unstructured Data 87

IBM Big Data Hub

JUNE 22, 2023

Manik, VP and senior partner for IBM Consulting, outlined a massive opportunity to strategically redesign the client’s finance operations and payment processing by leveraging AI, data analytics, metrics and automation. The results can be apparent quickly. Manik reframed the question.

Consulting 79

Consulting Insurance Finance Uncertainty 79

CIO Business Intelligence

MAY 24, 2022

Organisations have to contend with legacy data and increasing volumes of data spread across multiple silos. To meet these demands many IT teams find themselves being systems integrators, having to find ways to access and manipulate large volumes of data for multiple business functions and use cases. Insurance.

Data-driven 76

Data-driven Data Lake Data Warehouse Cost-Benefit 76

AWS Big Data

FEBRUARY 21, 2023

Data warehouses are mostly built using the dimensional model approach, which has consistently met business needs. Additionally, scalability of the dimensional model is complex and poses a high risk of data integrity issues. What is a dimensional data model?

Data Warehouse 67

Data Warehouse Data Lake Cost-Benefit Modeling 67

IBM Big Data Hub

APRIL 4, 2024

cloud servers, data storage , networking capabilities, automation , software, data analytic tools)—with the security and control of on-premises IT infrastructure. Public vs. private vs. hybrid cloud In addition to private cloud computing, there are two other main cloud computing models: private cloud and hybrid cloud.

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Data Processing Cost-Benefit Software Digital Transformation 93

CIO Business Intelligence

MAY 16, 2023

The industries these decision-makers represented include insurance, banking, healthcare and life sciences, government, entertainment, and energy in the U.S. AI Opportunities Generative AI is the basis for sophisticated AI models such as ChatGPT and Dall-E. and tokenization. This helps to ensure accuracy and neutrality.

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Advertising Recreation/Entertainment Experimentation Enterprise 80

IBM Big Data Hub

FEBRUARY 23, 2024

DL models can improve over time through further training and exposure to more data. When a user sends a message, the system uses NLP to parse and understand the input, often by using DL models to grasp the nuances and intent. DL, a subset of ML, excels at understanding context and generating human-like responses.

Enterprise 97

Enterprise Interactive Data-driven Key Performance Indicator 97

Sisense

DECEMBER 11, 2019

We hosted over 150 people from more than 100 companies, who gathered to learn why data can supercharge their companies and how harnessing the huge power of data can take business from startup to unicorn. Scott whisked us through the history of business intelligence from its first definition in 1958 to the current rise of Big Data.

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Data Lake Big Data Sales Data-driven 80

Andrew White

JANUARY 11, 2021

As such banking, finance, insurance and media are good examples of information-based industries compared to manufacturing, retail, and so on. Where does the Data Architect role fits in the Operational Model ? Assuming a data architect helps model and guide and assist D&A then they play a key role. Governance.

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Data Analytics Analytics Data-driven Finance 52