IBM Big Data Hub

MAY 1, 2023

In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. The early versions of AI were capable of predictive modelling (e.g., The four categories of predictive modelling, robotics, speech and image recognition are collectively known as algorithm-based AI or Discriminative AI.

Insurance 79

Insurance Predictive Modeling Cost-Benefit Statistics 79

DataRobot Blog

APRIL 29, 2022

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses.

Risk 111

Risk Modeling IT Risk Management 111

Smart Data Collective

MARCH 3, 2021

The legal sector is still in its infancy when it comes to big data and analytics. Using analytics implies utilizing data to supplement the knowledge, judgement, and experience in the decision-making process and evaluating the situations from a new perspective. Big data can help lawyers chose cases.

Analytics 126

Analytics Big Data Predictive Modeling Insurance 126

CIO Business Intelligence

JUNE 7, 2022

Monte Carlo simulation: According to Investopedia , “Monte Carlo simulations are used to model the probability of different outcomes in a process that cannot easily be predicted due to the intervention of random variables.” It is frequently used for risk analysis. Data analytics and data science are closely related.

Data Analytics 135

Data Analytics Diagnostic Analytics Management Analytics 135

IBM Big Data Hub

FEBRUARY 14, 2024

By infusing AI into IT operations , companies can harness the considerable power of NLP, big data, and ML models to automate and streamline operational workflows, and monitor event correlation and causality determination. ML algorithms can predict patterns, improve accuracy, lower costs and reduce the risk of human error.

Cost-Benefit 86

Cost-Benefit Insurance Unstructured Data Machine Learning 86

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. At this stage, data scientists begin writing code for computation and model-building.

Data Science 110

Data Science Statistics Recreation/Entertainment Predictive Analytics 110

Sisense

MARCH 27, 2019

This includes the ability to perform ad-hoc analysis on existing data or creating visualizations specific to new streams. Finally, real-time BI helps better understand trends and create more accurate predictive models for organizations. Who Uses Real-Time BI? What are the Real-Time BI Best Practices?

Business Intelligence 74

Business Intelligence Data Warehouse Predictive Modeling Visualization 74