Smart Data Collective

MARCH 8, 2021

Direct costs include depreciation, interest, repair and maintenance costs, tire changes, insurance, fuel, taxes, and fees. According to statistics, fuel costs account for nearly 40% of overall expenses for a fleet. Statistics reveal that companies relying on data management reduce total miles driven by 10%. Fuel Management.

Big Data 143

Big Data Management Predictive Analytics Statistics 143

Domino Data Lab

JULY 28, 2021

Through a marriage of traditional statistics with fast-paced, code-first computer science doctrine and business acumen, data science teams can solve problems with more accuracy and precision than ever before, especially when combined with soft skills in creativity and communication. Math and Statistics Expertise.

Data Science 110

Data Science Statistics Recreation/Entertainment Predictive Analytics 110

IBM Big Data Hub

FEBRUARY 15, 2024

Surface temperature statistics paint a compelling picture of the changing climate: 2023, according to the European Union climate monitor Copernicus, was the warmest year on record—nearly 1.5 What do global climate change and global warming look like? degrees Celsius warmer than pre-industrial levels.

Insurance 66

Insurance Risk Strategy Risk Management 66

AWS Big Data

JUNE 6, 2023

They have to gather detailed data statistics, such as minimums, maximums, averages, and correlations. They have to then review the data statistics to identify data quality rules, and write code to implement these checks in their data pipelines. It takes days for data engineers to identify and implement data quality rules.

Data Quality 93

Data Quality Statistics Data Lake Visualization 93

IBM Big Data Hub

DECEMBER 8, 2023

A good practice might be setting up a weekly meeting time to discuss the risks or to use a statistics tool for tracking any changes in the risk profile. This strategy shifts the risk from the organization onto another party; in many cases, the risk shifts to an insurance company.

Risk 74

Risk Strategy Risk Management Insurance 74

Smart Data Collective

SEPTEMBER 16, 2020

These statistical models are growing as a result of the wide swaths of available current data as well as the advent of capable artificial intelligence and machine learning. Predictive analytics, sometimes referred to as big data analytics, relies on aspects of data mining as well as algorithms to develop predictive models.

Predictive Analytics 121

Predictive Analytics Analytics Predictive Modeling Data mining 121

Smart Data Collective

NOVEMBER 17, 2021

Insurance, investing, logistics and digital marketing are among some of the professions most affected by big data. Maybe you can’t check the number of interactions with premium users in your statistics page, but these numbers do exist. So their activity is the only real representation of an audience. And the algorithm knows that.

Data Analytics 126

Data Analytics Analytics Advertising Data-driven 126

IBM Big Data Hub

FEBRUARY 13, 2024

Generative AI uses advanced machine learning algorithms and techniques to analyze patterns and build statistical models. Each output is unique yet statistically tethered to the data the model learned from. Imagine each data point as a glowing orb placed on a vast, multi-dimensional landscape.

Enterprise 126

Enterprise Modeling Testing Data-driven 126

CIO Business Intelligence

SEPTEMBER 30, 2022

The report comprises responses from 2,000 18-to-24 year-olds—44% of whom were already working in tech roles—and 200 senior business leaders in key industries, including financial services, insurance and pharmaceuticals. What should businesses be doing better?

Reporting 107

Reporting Insurance Statistics Technology 107

O'Reilly on Data

MAY 18, 2020

And last is the probabilistic nature of statistics and machine learning (ML). Because statistics: Last is the inherently probabilistic nature of ML. The answers boil down to three major reasons, which may also exist in other large software systems but are exacerbated in AI. First and foremost is the tendency for AI to decay over time.

Risk 359

Risk Modeling Data Processing Software 359

Smart Data Collective

NOVEMBER 3, 2021

We have talked extensively about the role of AI in investment management and insurance. It refers to underwriting, customer onboarding, document management, analysis, and statistics. There is no denying the reality that artificial intelligence is setting new standards in the financial sector. The banking industry is among them.

Software 121

Software Data-driven Interactive Insurance 121

CIO Business Intelligence

JUNE 26, 2023

Companies in the healthcare, aviation, technology, software development, engineering, construction, real estate, publishing, financial, marketing, manufacturing, education, insurance, government and many more need and seek good project managers. In fact, the Bureau of Labor Statistics outlook for project managers is bright.

Management 103

Management Risk Insurance Business Objectives 103

Smart Data Collective

MAY 27, 2021

According to statistics from the Motor Cycle Industry Association in 2020 there were 78% more new motorbike registrations, so the word is starting to spread within the motorbike world, and fast. Countless automobile manufacturers have found that AI technology helps them develop more reliable and cost-effective products.

Manufacturing 91

Manufacturing Insurance Marketing Statistics 91

CIO Business Intelligence

MARCH 9, 2022

Hiring for US IT roles slowed dramatically in February 2022, according to CompTIA, even as US Bureau of Labor Statistics figures showed non-farm employment growing across the rest of the economy. Healthcare companies in particular are hungry for IT workers.

IT 56

IT Manufacturing Insurance Statistics 56

O'Reilly on Data

MARCH 22, 2019

I’m not OK with those same images going to an insurance consortium, where they can become evidence of a “pre-existing condition,” or to a marketing organization that can send me fake diagnoses. I am fine with medical imagery being sent to a research study where it can be used to train radiologists and the AI systems that assist them.

Metadata 241

Metadata Advertising Insurance Modeling 241

Octopai

JANUARY 25, 2021

With such sensitive information at risk, the federal government passed the Health Insurance Portability and Accountability Act (HIPAA). The Health Insurance Portability and Accountability Act of 1996 (HIPAA) is a set of regulations that healthcare providers must follow to protect patients’ healthcare data. What Is HIPAA Compliance?

Insurance 52

Insurance Metadata Statistics Reporting 52

Smart Data Collective

NOVEMBER 1, 2020

Overall, clustering is a common technique for statistical data analysis applied in many areas. Besides data mining, this tool is in-demand in the following fields: Market segmentation; Document clustering; Image segmentation; Pattern recognition; Insurance fraud detection and others. Dimensionality Reduction – Modifying Data.

Machine Learning 133

Machine Learning Data mining Visualization Statistics 133

CIO Business Intelligence

DECEMBER 14, 2022

At insurance company National Life, CIO Nimesh Mehta says his IT team saw productivity increase 26% during the pandemic “because I think people didn’t have anything better to do than work,” Mehta says. “It comes down to finding a balance” of what can be done effectively remotely and what needs to be done in the office, he adds.

IT 145

IT Insurance Management Statistics 145

Smart Data Collective

AUGUST 11, 2022

Insurance companies are using data analytics to improve their actuarial processes. However, statistics have shown that many businesses don’t receive customer payments on time. Companies are projected to spend nearly $12 billion on financial analytics services by 2028. Many investors are using data analytics to invest in stocks.

Data Analytics 117

Data Analytics Optimization Analytics Cost-Benefit 117

Rita Sallam

APRIL 2, 2023

Dataiku Dataiku chose to focus on flood risk by geography and flooding’s economic impact on commercial insurance policies and claims. Southern Florida’s Atlantic coast has increased flood risk, leading to more and costlier flood insurance claims in areas like Homestead and Miami compared to West Palm Beach and Port Saint Lucie.

Optimization 52

Optimization Machine Learning Insurance Risk 52

CIO Business Intelligence

MARCH 8, 2023

But being a woman in professions where statistically women are underrepresented hasn’t been an issue for Wood. “I Up for the challenge Liberty Mutual Insurance Executive Vice President and CIO Monica Caldas credits, in part, a passion for technology and an early interest in problem-solving for setting her on the path to the executive suite.

IT 128

IT Consulting Insurance Technology 128

IBM Big Data Hub

SEPTEMBER 28, 2023

Financial tasks evaluated includes: providing sentiment scores for stock and earnings call transcripts, classifying news headlines, extracting credit risk assessments, summarizing financial long-form text and answering financial or insurance-related questions. The synthetic data generator service in watsonx.ai

Testing 94

Testing Finance Enterprise Modeling 94

FineReport

JULY 28, 2021

It can be defined as a combination of statistics, math, and computer science techniques employed to discover the patterns behind data and thus help the decision-making process. Insurance Dashboard (by FineReport). Typical tools for data science: SAS, Python, R. On the other hand, data science is typically more extensive and complex.

Business Intelligence 98

Business Intelligence Data Science Data Analytics Analytics 98

CIO Business Intelligence

JULY 26, 2023

But Cox and Djuric do know that 82% of Keller Williams’ agent have been active on the homegrown CRM application in the past 90 days and can deduce the high value of their data from that statistic alone.

Data Lake 98

Data Lake Digital Transformation Machine Learning Data Architecture 98

DataRobot Blog

APRIL 29, 2022

when the Federal Deposit Insurance Commission (FDIC) announced its adoption of Supervisory Guidance on Model Risk Management , previously outlined by the FRB and OCC. In 2017, additional regulation targeted much smaller financial institutions in the U.S. The FDIC’s action was announced through a Financial Institution Letter, FIL-22-2017.

Risk 111

Risk Modeling IT Risk Management 111

Smarten

JUNE 26, 2018

It is used to determine whether there is a statistically significant association between the two categorical variables. At 95% confidence level (5% chance of error) – As p-value = 0.041 which is less than 0.05, there is a statistically significant association between gender and product category purchased.

Testing 40

Testing Statistics IT Business Intelligence 40

Smart Data Collective

APRIL 11, 2019

It is being used in every industry from healthcare delivery to insurance modeling to political science. In addition to a variety of core courses that cover programming, statistics, and databases, students may choose one of several data analysis courses.”. Big data is playing a monumental role in economic development in 2019.

Big Data 76

Big Data Insurance Statistics Technology 76

Smart Data Collective

MAY 20, 2021

General user’s statistics. Such a mechanism can affect the decision on the provision of credit or insurance to the people. Also, there are different types of cookies: temporary or permanent. This is determined by webpage developer, normally, when you open new Internet resource pop-up notification informs you regarding type of cookies.

Advertising 87

Advertising Analytics Big Data Insurance 87

Smart Data Collective

AUGUST 21, 2019

Big data technology is applicable in different sectors ranging from healthcare, banking, pension industry, and insurance. As per the Bureau of Labor Statistics (BSL), in America 2 out of 5 households depends on their pension as a major source of income.

Big Data 77

Big Data Cost-Benefit Insurance Data-driven 77

Peter James Thomas

AUGUST 18, 2018

From 2000 to 2015, I had some success [5] with designing and implementing Data Warehouse architectures much like the following: As a lot of my work then was in Insurance or related fields, the Analytical Repositories tended to be Actuarial Databases and / or Exposure Management Databases, developed in collaboration with such teams.

Data Lake 63

Data Lake Data Warehouse Data mining Statistics 63

bridgei2i

JUNE 30, 2020

Stat) in Statistics from the Indian Statistical Institute. Listen Now Insurance is among the most-affected industries of the novel Coronavirus. Tune in to listen to Anirban Chaudhury talk about the implications of COVID-19 for insurers and how using AI, we can leverage the best out of it.

Enterprise 98

Enterprise Technology Digital Transformation Manufacturing 98

Smart Data Collective

SEPTEMBER 25, 2019

million penalty for violating the Health Insurance Portability and Accountability Act, more commonly known as HIPAA. Statistics show that poor data quality is a primary reason why 40% of all business initiatives fail to achieve their targeted benefits. Ponder the statistics and points of focus here as you plan how to proceed.

Technology 86

Technology Statistics Strategy Insurance 86

Domino Data Lab

JULY 28, 2021

Data science is a field at the convergence of statistics, computer science and business. Data science is an interdisciplinary field within STEM that combines math and statistics, computer science, and business acumen to find patterns in complex datasets that can be used to improve decision making. What are Data Scientists?

Data Science 45

Data Science Machine Learning Statistics Deep Learning 45

Domino Data Lab

JANUARY 24, 2019

This group of solutions targets code-first data scientists who use statistical programming languages and spend their days in computational notebooks (e.g., For example, an insurance company could task a team of expert data scientists to work collaboratively in a code-first platform to develop their proprietary claims risk models.

Data Science 65

Data Science Marketing Data-driven Statistics 65

Sisense

APRIL 15, 2021

Bringing these tools into the hands of financial analysts (called quants) and insurance actuaries quickly solves the problem of access and opens up the audience. In broad strokes, these tasks include: Data preparation Feature engineering Model generation Model evaluation. As you can see, this gets complicated very quickly.

Analytics 98

Analytics Data Science Modeling Machine Learning 98

Octopai

JULY 18, 2019

The billing and finance departments need the right information in order to properly bill patients and insurers. And healthcare providers of all kinds are often required to provide data, properly cleansed of identifying patient information, for government agencies to compile national healthcare statistics.

Metadata 48

Metadata Management Data Governance Insurance 48

Smart Data Collective

SEPTEMBER 15, 2019

Hussain of Atos Spain published a white paper on the growing relevance of big data in the finance and insurance verticals. It also features a search function conveniently located at the top of the screen that allows you to access stock pages, as well as produce charts and important market statistics.

Big Data 85

Big Data Machine Learning Risk Insurance 85