DataRobot Blog

MAY 25, 2022

The DataRobot AI Cloud Platform can also help identify infrastructure and buildings at risk of damage from natural disasters. The post AI for Climate Change and Weather Risk appeared first on DataRobot AI Cloud. In 2017, Hurricane Harvey struck the U.S. Gulf Coast and caused approximately $125 billion in damage. Learn more.

Risk 52

Risk Insurance Predictive Modeling Predictive Analytics 52

Corinium

JUNE 6, 2019

I am the Chief Practice Officer for Insurance, Healthcare, and Hi-Tech verticals at Fractal. The Insurance practice is currently engaged with several top 10 P&C insurers in the US, across the Insurance value chain through AI, Engineering, Design & Behavioural Sciences programs.

Insurance 250

Insurance Analytics Forecasting Deep Learning 250

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. If you put on too many workers, you run the risk of having unnecessary labor costs add up.

Big Data 364

Big Data Data Analytics Analytics Cost-Benefit 364

Sisense

MARCH 3, 2021

This data comes from various sources: Hospital records Patient medical records Examination results Biomedical research Insurance records. Like many other industries, healthcare finds itself sitting on vast amounts of data.

Big Data 98

Big Data Risk Sales Insurance 98

Decision Management Solutions

FEBRUARY 25, 2019

To keep processing costs low, many insurance carriers have a goal to increase the percentage of their claims that can be processed and decisioned with no human decision-making involved. Perhaps surprisingly, there remains a fair amount of human intervention involved in processing insurance claims. Focus on continuous improvement.

Insurance 40

Insurance Management Machine Learning Modeling 40

Octopai

DECEMBER 11, 2022

Banks didn’t accurately assess their credit and operational risk and hold enough capital reserves, leading to the Great Recession of 2008-2009. Insurance companies misvalued or misreported on insurance contracts (which, to be fair, are notoriously hard to compare with precision). Data lineage and financial risk data compliance.

Insurance 52

Insurance Risk Metadata Reporting 52

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. The visual representation of data enables healthcare professionals to identify trends, patterns, and anomalies at a glance, facilitating rapid decision-making based on critical information.

Digital Transformation 52

Digital Transformation Business Intelligence Data-driven Visualization 52

Decision Management Solutions

NOVEMBER 13, 2018

80% of data and analytics leaders with global life insurance and property & casualty carriers surveyed by McKinsey reported that their analytics investments are not delivering high impact. Begin with an agile analytic deployment platform, not with visualization. What’s stopping them from delivering high impact?

Insurance 40

Insurance Analytics Modeling Visualization 40

CIO Business Intelligence

JUNE 7, 2022

It is frequently used for risk analysis. It can be used to reveal structures in data — insurance firms might use cluster analysis to investigate why certain locations are associated with particular insurance claims, for instance. Generally, the output of data analytics are reports and visualizations.

Data Analytics 122

Data Analytics Diagnostic Analytics Management Analytics 122

CIO Business Intelligence

APRIL 27, 2023

Organizations must proactively mitigate generative AI’s inherent risks, in areas such as ethics, bias, transparency, privacy and regulatory requirements. Consider an insurance company using generative AI to forecast claim amounts for its policyholders. However, organizations can invest in explainable AI techniques (e.g.,

Enterprise 70

Enterprise Insurance Cost-Benefit Digital Transformation 70

IBM Big Data Hub

FEBRUARY 14, 2024

Creative AI use cases Create with generative AI Generative AI tools such as ChatGPT, Bard and DeepAI rely on limited memory AI capabilities to predict the next word, phrase or visual element within the content it’s generating. ML algorithms can predict patterns, improve accuracy, lower costs and reduce the risk of human error.

Cost-Benefit 88

Cost-Benefit Insurance Machine Learning Unstructured Data 88

AWS Big Data

FEBRUARY 12, 2024

Instead, they rely on up-to-date dashboards that help them visualize data insights to make informed decisions quickly. Manually handling repetitive daily tasks at scale poses risks like delayed insights, miscataloged outputs, or broken dashboards. Choose Visualize. On the Athena console, switch the workgroup to CustomWorkgroup.

Publishing 95

Publishing Dashboards Metadata Visualization 95

datapine

OCTOBER 11, 2023

It allows for informed decision-making and efficient risk mitigation. Your Chance: Want to visualize & track warehouse KPIs with ease? A good practice is to visualize this and other inventory KPIs together in an online dashboard to get a complete picture of your inventory management strategies.

Metrics 217

Metrics KPI Management Cost-Benefit 217

CIO Business Intelligence

JANUARY 31, 2023

Being able to look at the mix of applications as a whole, and trying to understand how that creates value or risk, enables you to make the case for change, or even maintain the status quo,” says enterprise architect Jonathan Gregory, currently at the UK’s Houses of Parliament. CIO, Enterprise Architecture, IT Leadership

Enterprise 117

Enterprise Digital Transformation Risk Technology 117

Octopai

JULY 9, 2020

As a core principle of data management, all BI & Analytics teams engage with data lineage at some point to be able to visualize and understand how the data they process moves around throughout the various systems that make up their data environment. It required banks to develop a data architecture that could support risk-management tools.

Insurance 86

Insurance Risk Management Machine Learning Metadata 86

Decision Management Solutions

DECEMBER 17, 2021

We work with lenders in a variety of markets and have found that decision modeling, building a visual blueprint of your credit risk decisioning, is a critical success factor in moving to next generation credit decisioning. Lower credit losses. More efficient lending. Sounds good, right?

Modeling 52

Modeling Experimentation Visualization Risk 52

Decision Management Solutions

JULY 24, 2023

It shaves some fraud loss or tightens the risk assessment or focuses the marketing offer just a little better. Building decision models is a best practice and creates a visual blueprint of your decision-making, structuring the decision-making and decomposing it into a network of shared elements.

Insurance 52

Insurance Visualization Modeling Interactive 52

Decision Management Solutions

JANUARY 3, 2023

Some years ago, we worked with a health insurer with a typical manual claims process. The insurer had made lots of technology investments in new channels like chatbots, mobile applications, online claims submission and even API-based submission direct from hospitals. Business problem – manual claims decisions.

Insurance 52

Insurance Dashboards Machine Learning Visualization 52

datapine

AUGUST 19, 2020

Collecting big amounts of data is not the only thing to do; knowing how to process, analyze, and visualize the insights you gain from it is key. Your Chance: Want to visualize & track inventory KPIs with ease? Your Chance: Want to visualize & track inventory KPIs with ease? But let’s get back to our visual example.

Metrics 286

Metrics KPI Cost-Benefit Dashboards 286

Decision Management Solutions

MARCH 25, 2021

Organizations in highly regulated industries like healthcare, finance, insurance, and energy are constantly wrestling with how to balance risk and profitability. You’ll gain insights on how business stakeholders can build easy-to-explain models in a visual format by leveraging our Decision Management methodology.

Modeling 52

Modeling Data Processing Insurance Finance 52

CIO Business Intelligence

AUGUST 14, 2023

Typically quicker, micro transformations are more adaptable — and lower risk — than large-scale projects, helping organizations achieve tangible improvements faster. It was a cross-functional effort between GTO team members and MetLife’s pet insurance team, Pappas says.

IT 73

IT Digital Transformation Insurance Broadcasting 73

CIO Business Intelligence

APRIL 6, 2022

In this way, AIOps frees up decision makers to focus on larger business issues, as well as provides them with clear visual information. The risks of a breach are greater as well, from interrupted operations to stiff financial penalties for failing to adhere to industry regulations such as General Data Protection Regulation (GDPR).

Data mining 70

Data mining Deep Learning Insurance Digital Transformation 70

DataRobot Blog

JULY 21, 2022

If there is no forward-looking predictive component to the use case, it can probably be addressed with analytics and visualizations applied to historical data. Document assumptions and risks to develop a risk management strategy. Close collaboration and alignment across business and technical teams will help ensure success.

Machine Learning 98

Machine Learning Metrics Modeling Testing 98

Sisense

MARCH 27, 2019

Real time business intelligence is the use of analytics and other data processing tools to give companies access to the most recent, relevant data and visualizations. 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

erwin

MAY 2, 2022

While talking to the business people about the business requirements, entities tend to be the plural nouns that they mention: insureds, beneficiaries, policies, terms, etc. Look again at Figure 7, what is the difference between an insured and a beneficiary? What is an entity? Just write them down, fill in details later.

Modeling 98

Modeling Insurance Cost-Benefit Data Warehouse 98

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 Predictive Analytics Modeling 110

Domino Data Lab

MARCH 11, 2021

Machine learning is used in almost every industry, notably finance , insurance , healthcare , and marketing. H2O is widely used in risk and fraud trend analysis, insurance customer analysis, patient analysis in healthcare, advertising costs and ROI, and customer intelligence.

Machine Learning 143

Machine Learning Deep Learning Insurance Modeling 143

Smart Data Collective

APRIL 13, 2021

Big data is capable of producing volumes of data that can then be converted into valuable insights with analytics and AI to identify and address patients with multiple conditions, patients who are at a heightened risk of illness and patients showing symptoms of certain illnesses through their early stages.

Big Data 113

Big Data Insurance Data Analytics Technology 113

erwin

MARCH 30, 2020

Privately it will come from hospitals, labs, pharmaceutical companies, doctors and private health insurers. Data mapping management to capture the data flows, reconstruct data pipelines, and visualize data lineage. These numerous data types and data sources most definitely weren’t designed to work together.

Metadata 122

Metadata IT Data Governance Data Quality 122

CIO Business Intelligence

AUGUST 15, 2023

A risk-limiting audit (RLA) is one audit type used for election verification. But the event yielded an even bigger result in form of PowerInsights, an interactive geospatial visualization, analytics, and AI tool that helps the company identify potential new customers and offer other new market opportunities.

IT 86

IT Manufacturing IoT Cost-Benefit 86

Alation

JUNE 28, 2022

Track data lineage: Document data origins, record data transformation and movement, and visualize flow throughout the entire data lifecycle. Automation saves time, eliminates manual processing activities, and reduces the risk of human error. Classifies Data to Mitigate Risk of Non-Compliance.

Metadata 52

Metadata Management Data Governance Machine Learning 52

IBM Big Data Hub

OCTOBER 12, 2023

Accounting for the complexities of the AI lifecycle Unfortunately, typical data storage and data governance tools fall short in the AI arena when it comes to helping an organization perform the tasks that underline efficient and responsible AI lifecycle management.

Cost-Benefit 82

Cost-Benefit Metadata Data Governance Modeling 82

Octopai

JUNE 26, 2020

Steve, the Head of Business Intelligence at a leading insurance company, pushed back in his office chair and stood up, waving his fists at the screen. Without metadata, the organization is at risk of making decisions based on the wrong data.”. Why aren’t the numbers in these reports matching up? The data journey governed.

Metadata 84

Metadata Data Governance Enterprise Reporting 84

Jet Global

MARCH 4, 2024

The CSRD is a phased directive that requires all large companies and listed companies in the EU to disclose information on their environmental, social, and governance (ESG) performance, risks, and impacts. Use the first set of ESRS for financial year starting on or after January 1, 2024. Reports due in 2025.

Reporting 52

Reporting Management Cost-Benefit Enterprise 52

Cloudera

JANUARY 5, 2023

This is especially so in industries like telecom, retail, healthcare, manufacturing, insurance, and financial services. We foresee organizations pivoting focus beyond the algorithm to things like business-ready predictive dashboards, visualizations, and applications that simplify the use of AI systems to reach conclusions.

Cost-Benefit 52

Cost-Benefit Business Objectives Machine Learning Data Architecture 52

Jet Global

APRIL 5, 2021

This exercise helps a company visualize its current financial position and predict future financial performance. Risk management. Visual Basic for Applications (VBA) is the programming language typically used for Excel and other Microsoft Office programs. Financial modeling can be quite handy in a number of situations.

Modeling 98

Modeling Forecasting Metrics Finance 98

Jet Global

DECEMBER 9, 2020

Insurance and excise taxes may reduce as inventory levels decline. You must often mark down or liquidate obsolete items, and the more inventory you have, the higher the risk of that happening. Download our free Working Capital report template to easily visualize key working capital KPIs for your organization.

Reporting 81

Reporting Finance Sales Measurement 81