Smart Data Collective

JANUARY 26, 2022

What is Legal Analytics? Legal analytics is the process of implementing data into your decision-making on topics affecting legal forms and attorneys, like legal strategy, a matter of forecasting, and resource management. Predictive analytics. Predictive analytics enable leaders to make more informed decisions.

Data Analytics 71

Data Analytics Analytics Predictive Analytics Insurance 71

IBM Big Data Hub

FEBRUARY 14, 2024

Maintenance schedules can use AI-powered predictive analytics to create greater efficiencies. See what’s ahead AI can assist with forecasting. For example, a supply-chain function can use algorithms to predict future needs and the time products need to be shipped for timely arrival.

Cost-Benefit 88

Cost-Benefit Insurance Unstructured Data Machine Learning 88

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 76

Big Data Cost-Benefit Predictive Analytics Insurance 76

Smart Data Collective

JUNE 5, 2023

Besides offering peace of mind, these features can reduce home insurance premiums. With predictive analytics, your smart home can warn you about potential problems like leaks or electrical faults, enabling you to fix them early and avoid hefty repair costs. Now that’s smart.

Cost-Benefit 89

Cost-Benefit Insurance Big Data Predictive Analytics 89

datapine

OCTOBER 11, 2023

As seen in the image above, these costs can include employee salaries, taxes, insurance, storage, and even the investment opportunities that the business might be losing due to having a lot of resources tight to inventory. 3) Inventory turnover Next, in our warehouse metrics examples, we have the inventory turnover.

Metrics 217

Metrics KPI Management Cost-Benefit 217

FineReport

APRIL 9, 2024

The integration of clinical data analysis tools empowers healthcare providers to leverage predictive analytics for proactive decision-making. Through the utilization of predictive models, clinicians can forecast patient outcomes and resource needs, enabling early intervention and personalized care delivery.

Digital Transformation 52

Digital Transformation Business Intelligence Data-driven Visualization 52

IBM Big Data Hub

FEBRUARY 23, 2024

Predictive analytics integrates with NLP, ML and DL to enhance decision-making capabilities, extract insights, and use historical data to forecast future behavior, preferences and trends. Conversational AI is also making significant strides in other industries such as education, insurance and travel.

Enterprise 106

Enterprise Interactive Data-driven Key Performance Indicator 106

Smart Data Collective

AUGUST 21, 2019

Predictive analytics and machine learning can help give some more perspectives on how retirees live , which can help them forecast their financial needs in their Golden Years. Big data technology is applicable in different sectors ranging from healthcare, banking, pension industry, and insurance.

Big Data 77

Big Data Cost-Benefit Insurance Data-driven 77

Cloudera

SEPTEMBER 7, 2023

The Danger of Black-Box AI Solutions We believe the best, most pragmatic solution for AI in financial services and insurance is what we call–“Trusted AI.” The hybrid platform’s automation capabilities are crucial in this stage, allowing for more rapid adaptation and richer analytics. Plan to scale for the future.

Insurance 79

Insurance Risk Data-driven Modeling 79

Smart Data Collective

NOVEMBER 12, 2021

Instead, your area of expertise could be selling books, providing insurance, or creating jewelry. One of the other benefits of data analytics is that it can help forecast future business activity. You can use predictive analytics tools to anticipate future sales volume, regulatory issues and much more.

Data-driven 102

Data-driven Cost-Benefit Data mining Big Data 102

Smart Data Collective

NOVEMBER 17, 2021

Data analytics has become a crucial element of the financial industry. Financial institutions such as mutual funds and insurance companies are using big data to improve their operations. The market for financial analytics services is expected to be worth $14 billion by 2026.

Analytics 110

Analytics Big Data Data-driven ROI 110

bridgei2i

JULY 8, 2020

And if you’re a banker or an insurer, you’re probably busy figuring out how to measure these risks, mobilize these resources, and fund capital that’s going to provide strong growth. In the short run, this means they have to get their demand forecast right.

Digital Transformation 132

Digital Transformation Enterprise Insurance Risk 132

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. seats on planes.

Machine Learning 63

Machine Learning Cost-Benefit Strategy Marketing 63

datapine

OCTOBER 21, 2020

By utilizing key performance indicators in healthcare and healthcare data analytics, prevention is better than cure, and managing to draw a comprehensive picture of a patient will let insurance provide a tailored package. Then, they could use machine learning to find the most accurate algorithms that predicted future admissions trends.

Big Data 364

Big Data Data Analytics Analytics Cost-Benefit 364

Jet Global

DECEMBER 6, 2019

when it comes to the banking and insurance industry, things get a little different. On the insurance side, new regulatory reporting requirements are increasing the number and frequency of required calculations, revisions to financial statement presentation, and increases in financial statement disclosures. So How Did They Do It?

Insurance 86

Insurance Reporting Predictive Analytics Forecasting 86

Smart Data Collective

AUGUST 29, 2022

However, the rapidly changing business environment requires more sophisticated analytical tools in order to quickly make high-quality decisions and build forecasts for the future. For example, insurance companies use cluster analysis to detect false claims, while banks use it to assess creditworthiness. Predictive analytics.

Analytics 113

Analytics Predictive Analytics Machine Learning Insurance 113

Smart Data Collective

MAY 11, 2023

Predictive analytics and other big data tools help distinguish between legitimate and fraudulent transactions. Big Data is used more in property and casualty insurance than in other areas of actuarial practice. Health and life insurance have seen significant advances in Big Data use in recent years.

Data mining 97

Data mining Big Data Sales Cost-Benefit 97

Jet Global

NOVEMBER 27, 2019

With 300 entities distributed across 50 countries, credit insurance specialist, Atradius, struggled to present a consolidated set of accounts, in a timely manner, that everyone could agree on and trust. Improving forecast accuracy using predictive analytics to detect bias. Webinar Details: Tuesday, December 10, 1pm.

Reporting 81

Reporting Insurance Predictive Analytics Forecasting 81

Smarten

JULY 10, 2018

This article summarizes our recent article series on the definition, meaning and use of the various algorithms and analytical methods and techniques used in predictive analytics for business users, and in augmented data preparation and augmented data discovery tools. Use Case(s): Weather Forecasting, Fraud Analysis and more.

Analytics 40

Analytics Forecasting Statistics Sales 40

Domino Data Lab

JUNE 2, 2019

To do this, first review quantitative decisions being made by staff – for example, settlement prices quoted by insurance claims adjusters. More near-term, Kahneman suggested the use of pre-mortems – also called backcasting, as a contrapositive of forecasting. Measure how these decisions vary across your population.

Data-driven 110

Data-driven Data Science Machine Learning Modeling 110

Smarten

JUNE 21, 2018

This article provides a brief explanation of the Holt-Winters Forecasting model and its application in the business environment. What is the Holt-Winters Forecasting Algorithm? The Holt-Winters algorithm is used for forecasting and It is a time-series forecasting method. 2) Double Exponential Smoothing Use Case.

Forecasting 40

Forecasting Enterprise IT Predictive Modeling 40

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. On end user clients calls, are you hearing a greater focus on use cases and greater need for prescriptive analytics, ex marketing analytics, sales analytics, healthcare, etc.

Data Analytics 52

Data Analytics Analytics Data-driven Finance 52

Jet Global

MAY 4, 2021

As such, it is poorly suited to the type of basic analytical tasks associated with a month-end closing. SAP Business Planning and Consolidation (BPC) – BPC is not a reporting tool per se; it is an SAP module for complex planning, budgeting, forecasting, and financial consolidation.

Reporting 52

Reporting IT Finance Data Warehouse 52