Smart Data Collective

SEPTEMBER 19, 2021

You might be surprised to hear that AI is becoming more important in the field of insurance than ever. Insurance companies have been using AI and big data for underwriting and other functions for years. AI Provides Better Accessibility for Insurance Customers. Here’s how. But platforms such as Salty can help you.

Insurance 134

Insurance Cost-Benefit Big Data Data-driven 134

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. Global companies spent over $92.5

Data-driven 128

Data-driven Cost-Benefit Data mining Big Data 128

Smart Data Collective

AUGUST 4, 2022

There are many benefits of leveraging analytics in healthcare. Hospitals and individual healthcare providers are using analytics tools to predict the likelihood a patient will develop a disease, minimize medical error rates, reduce costs of delivering treatment and provide a better overall patient experience.

Data-driven 130

Data-driven Modeling Cost-Benefit Big Data 130

Cloudera

NOVEMBER 4, 2020

Insurance is no different. Insurance is not something the average consumer thinks about every day but when a life changing event happens, insurance becomes extremely important. It is in this “Moment of Truth” that insurers excel or fail. To provide the best price, the insurer needs to better understand their customer.

Insurance 116

Insurance Machine Learning Risk IoT 116

CIO Business Intelligence

MARCH 19, 2025

In October, Microsoft announced that 100,000 organizations including Standard Bank, Thomson Reuters, Virgin Money, and Zurich Insurance are using Copilot Studio, double the number just months earlier. If a customer asks us to do a transaction or workflow, and Outlook or Word is open, the AI agent can access all the company data, he says.

Software 143

Software Risk Enterprise Cost-Benefit 143

Smart Data Collective

FEBRUARY 28, 2022

There is no question that advances in data technology have led to some major changes in the financial industry. A growing number of banks, insurance companies, investment management firms and other financial institutions are finding creative ways to leverage big data technology. Benefits of ACH payments. Lower costs.

Data-driven 122

Data-driven Strategy Big Data Cost-Benefit 122

Smart Data Collective

NOVEMBER 8, 2021

Data analytics has become a very important aspect of any modern business’s operating strategy. One of the most important ways to utilize big data is with financial management. This is a testament to the amazing benefits it provides for companies in all sectors. Get the Right Insurance in Place.

Data Analytics 137

Data Analytics Insurance Analytics Cost-Benefit 137

datapine

AUGUST 19, 2020

In our cutthroat digital economy, massive amounts of data are gathered, stored, analyzed, and optimized to deliver the best possible experience to customers and partners. 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.

Metrics 286

Metrics KPI Cost-Benefit Dashboards 286

datapine

MAY 31, 2022

3) Cloud Computing Benefits. It provides better data storage, data security, flexibility, improved organizational visibility, smoother processes, extra data intelligence, increased collaboration between employees, and changes the workflow of small businesses and large enterprises to help them make better decisions while decreasing costs.

Risk 237

Risk Cost-Benefit Business Intelligence Data-driven 237

Smart Data Collective

MAY 23, 2021

AI (Artificial Intelligence) and ML (Machine Learning) will bring improvement in Fintech in 2021 as the accuracy and personalization of payment, lending, and insurance services while also assisting in the discovery of new client pools. As a result, fintech firms can solve complex challenges even more quickly and efficiently.

Insurance 137

Insurance Machine Learning Cost-Benefit Data-driven 137

CIO Business Intelligence

AUGUST 20, 2024

Many AI projects have huge upfront costs — up to $200,000 for coding assistants, $1 million to embed generative AI in custom apps, $6.5 Those costs don’t include recurring costs, which can run into the thousands of dollars per user each year. SMBs are particularly vulnerable to these cost increases.”

Risk 131

Risk Cost-Benefit Insurance ROI 131

CIO Business Intelligence

JANUARY 7, 2025

In todays fast-paced digital landscape, the cloud has emerged as a cornerstone of modern business infrastructure, offering unparalleled scalability, agility, and cost-efficiency. The first three considerations are driven by business, and the last one by IT.

Optimization 98

Optimization Strategy Cost-Benefit Enterprise 98

erwin

FEBRUARY 7, 2019

Organization’s cannot hope to make the most out of a data-driven strategy, without at least some degree of metadata-driven automation. The volume and variety of data has snowballed, and so has its velocity. So it’s safe to say that organizations can’t reap the rewards of their data without automation.

Metadata 96

Metadata Insurance Data-driven Cost-Benefit 96

Cloudera

MAY 4, 2022

The availability and maturity of automated data collection and analysis systems is making it possible for businesses to implement AI across their entire operations to boost efficiency and agility. Benefits aplenty. The beauty of AI is that it promises to deliver more benefits than you can even imagine. Faster decisions .

Internet of Things 130

Internet of Things Cost-Benefit Insurance Data-driven 130

Smart Data Collective

MARCH 23, 2023

AI technology offers a number of major benefits of small businesses and freelancers. However, one of the other benefits of AI is that it can help with your taxes! Advanced AI algorithms can reduce costs, save time, and improve ROI. You can also deduct the cost of your AI-driven tax preparation software.

Cost-Benefit 113

Cost-Benefit Insurance Advertising Consulting 113

Smart Data Collective

MAY 3, 2021

Big data has played a huge role in the evolution of employment models. Big data has made the gig economy stronger than ever and helped many people find new employment. Data savvy freelancers that understand concepts like self-tracking can get a lot more value out of their work. 2 Saves time and cost with machine learning.

Big Data 130

Big Data Data mining Cost-Benefit Insurance 130

CIO Business Intelligence

JUNE 19, 2024

In short, members won’t share data or algorithms but there will be a collective system allowing expertise and learning to be shared. According to AI optimists, the technology will allow long and arduous drug discovery pipelines to be shortened, cutting the cost of drug development. How might AI be used in healthcare?

Uncertainty 145

Uncertainty Insurance Cost-Benefit Data-driven 145

AWS Big Data

JUNE 25, 2024

This post is co-authored by Vijay Gopalakrishnan, Director of Product, Salesforce Data Cloud. In today’s data-driven business landscape, organizations collect a wealth of data across various touch points and unify it in a central data warehouse or a data lake to deliver business insights.

Data Lake 111

Data Lake Cost-Benefit Data-driven Data Warehouse 111

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. Data analytics can even help them prepare for financial disasters. billion in the next two years. Fraud risks.

Data Analytics 131

Data Analytics Analytics Finance Data mining 131

Smart Data Collective

MARCH 31, 2022

A lot of accountants are discovering innovative ways to take advantage of the benefits of machine learning. Smart accountants also recognize the need to leverage data science in their profession. Provide employees with access to the appropriate AI-driven tools, so that they can become more productive with their time.

Machine Learning 131

Machine Learning Insurance Finance Cost-Benefit 131

CIO Business Intelligence

JULY 22, 2024

IT leader and former CIO Stanley Mwangi Chege has heard executives complain for years about cloud deployments, citing rapidly escalating costs and data privacy challenges as top reasons for their frustrations. They, too, were motivated by data privacy issues, cost considerations, compliance concerns, and latency issues.

Optimization 128

Optimization Strategy IT Cost-Benefit 128

erwin

APRIL 11, 2019

Keeping up with new data protection regulations can be difficult, and the latest – the General Data Protection Regulation (GDPR) – isn’t the only new data protection regulation organizations should be aware of. A number of high-profile data breaches and scandals have increased public awareness of the issue.

Insurance 100

Insurance Data-driven Data Governance Metadata 100

CIO Business Intelligence

JANUARY 8, 2024

Gain stronger control over data Jae Evans, global CIO and executive vice president at Oracle, is planning to prioritize data control in 2024, and CIOs across industries would be wise to follow suit. “As As a large enterprise, we have vast amounts of data from disparate sources,” she says.

Cost-Benefit 142

Cost-Benefit Digital Transformation Optimization Measurement 142

Jet Global

JUNE 5, 2020

What Is an Insurance KPI? An insurance Key Performance Indicator (KPI) or metric is a measure that an insurance company uses to monitor its performance and efficiency. Insurance metrics can help a company identify areas of operational success, and areas that require more attention to make them successful. View Guide Now.

Insurance 59

Insurance Metrics Reporting KPI 59

Smart Data Collective

AUGUST 11, 2022

Data analytics technology has become very important for helping companies manage their financial strategies. There are many great benefits of using data analytics to improve financial management strategies. Many investors are using data analytics to invest in stocks. Determine the best payment terms for customers.

Data Analytics 128

Data Analytics Optimization Analytics Cost-Benefit 128

erwin

NOVEMBER 14, 2019

Data governance tools used to occupy a niche in an organization’s tech stack, but those days are gone. The rise of data-driven business and the complexities that come with it ushered in a soft mandate for data governance and data governance tools. It is also used to make data more easily understood and secure.

Data Governance 105

Data Governance Cost-Benefit Data-driven Metadata 105

bridgei2i

AUGUST 2, 2020

The moment of truth in an insurance relationship a customer has with an insurer is when s/he submits a claim and then waits, with bated breath, for the settlement. Yet, claims need to be settled, now more than ever and the cost of a single mistake is high, both the customer and the insurer.

Digital Transformation 95

Digital Transformation Insurance Unstructured Data Cost-Benefit 95

CIO Business Intelligence

JANUARY 11, 2023

As the economic pendulum shifts to cost control, CIOs will have to find ways to continue achieving the same results but with less margin for error,” he notes. There’s an industry-wide push to reduce technical and data debt and reallocate those resources toward building the future, Conyard says. “CIOs This is no longer true. “As

Digital Transformation 145

Digital Transformation Cost-Benefit Consulting Enterprise 145

Smart Data Collective

MAY 30, 2019

Big data is changing the direction of customer service. They rely on big data to better serve customers. Namee Jani wrote a fascinating article on chatbots and data analytics last year. She said they are the next big thing in business optimization in her article on Towards Data Science. We made some impressive deductions.

Big Data 102

Big Data Machine Learning Insurance Data-driven 102

CIO Business Intelligence

APRIL 22, 2024

As such, Scavuzzo and his team look for technologies that do way more than boost productivity or cut costs. Moreover, Scavuzzo saw an additional business benefit to such an approach, thanks to scale: Using anonymized data, Marcum could analyze and compare client performance and thereby provide better consulting advice to them.

IT 126

IT Data-driven Strategy Consulting 126

CIO Business Intelligence

APRIL 29, 2022

Preparing for an artificial intelligence (AI)-fueled future, one where we can enjoy the clear benefits the technology brings while also the mitigating risks, requires more than one article. This first article emphasizes data as the ‘foundation-stone’ of AI-based initiatives. Establishing a Data Foundation. Data Centricity.

Data Governance 145

Data Governance IT Data Lake Risk 145

Alation

OCTOBER 4, 2022

The foundation of insurance is data and analytics. Actuaries and their mathematical models enable insurers to calculate risk to determine premiums. Today, the rise of digital insurance companies and the changing risk landscape together drive the industry’s digital transformation. Why is it Important?

Insurance 52

Insurance Data Governance Risk Strategy 52

CIO Business Intelligence

SEPTEMBER 10, 2024

One such area that’s getting more thought today is SaaS backup and recovery, something many CIOs have to date taken for granted, leaving it to their SaaS vendors to not only deliver better than five-nines uptime but also be the sole entities backing up and recovering SaaS-siloed data that is increasingly vital to companies’ data-driven operations.

Risk Management 130

Risk Management Risk Enterprise Insurance 130

Smart Data Collective

MAY 11, 2023

The good news is that big data technology is helping banks meet their bottom line. Therefore, it should be no surprise that the market for data analytics is growing at a rate of nearly 23% a year after being worth $744 billion in 2020. Big data can help companies in the financial sector in many ways.

Data mining 116

Data mining Big Data Sales Cost-Benefit 116

Cloudera

NOVEMBER 16, 2022

Tracks represented financial services, insurance, retail and consumer packaged goods, and healthcare. Overall, it struck me that while data science is not new, most firms are still defining the mission of the data office and data officer. Cost Savings: costs avoided, manual labor and time savings.

Insurance 81

Insurance Cost-Benefit Metrics Measurement 81

CIO Business Intelligence

FEBRUARY 13, 2023

This includes spending on strengthening cybersecurity (35%), improving customer service (32%) and improving data analytics for real-time business intelligence and customer insight (30%). Cold: On-prem infrastructure As they did in 2022, many IT leaders are reducing investments in data centers and on-prem technologies. “We

IT 145

IT Insurance Machine Learning Marketing 145

erwin

FEBRUARY 19, 2021

Metadata management is key to wringing all the value possible from data assets. However, most organizations don’t use all the data at their disposal to reach deeper conclusions about how to drive revenue, achieve regulatory compliance or accomplish other strategic objectives. Quite simply, metadata is data about data.

Metadata 110

Metadata Management Data Quality Cost-Benefit 110