CIO Business Intelligence

NOVEMBER 1, 2024

One of the world’s largest risk advisors and insurance brokers launched a digital transformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age. It’s a full-fledged platform … pre-engineered with the governance we needed, and cost-optimized.

IT 105

IT Insurance Consulting Risk 105

CIO Business Intelligence

MAY 1, 2024

For every optimistic forecast, there’s a caveat against a rush to launch. And commercial insurance is a vertical Docugami CEO Jean Paoli says has been an early adopter, including statements of value, certificates of insurance, as well as policy documents with renewal dates, penalties, and liabilities.

Cost-Benefit 143

Cost-Benefit Metrics Insurance Measurement 143

Smart Data Collective

NOVEMBER 12, 2021

Big data has helped companies identify promising cost-saving measures, recruit the best talent, optimize their marketing strategies and realize many other benefits. However, there are a lot of other benefits of big data that have not gotten as much attention. Control Operational Costs. Here’s why.

Data-driven 118

Data-driven Cost-Benefit Data mining Big Data 118

Smart Data Collective

MAY 11, 2023

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. While these are some of the most important benefits of big data in the banking sector, data technology can help in other useful ways.

Data mining 112

Data mining Big Data Sales Cost-Benefit 112

Smart Data Collective

SEPTEMBER 16, 2022

One of the biggest benefits of big data in healthcare has been in the field of virtual healthcare. Some of the ways that big data is driving advances in telemedicine include the following: They can evaluate data from IoT devices and use it to forecast healthcare trends and identify individual patient needs.

Big Data 122

Big Data Cost-Benefit IoT Consulting 122

CIO Business Intelligence

FEBRUARY 13, 2023

“We run factories and help companies run them and optimize them” and AI is used to optimize everything from getting more throughput to better quality to preventative maintenance, productivity, and cost optimization, Nardecchia says. IDC is forecasting a 5.1% It’s all about uptime and input. in 2023, the firm says.

IT 145

IT Insurance Machine Learning Marketing 145

bridgei2i

MAY 26, 2020

By allowing that, they could have a steady demand forecast based on sensing algorithms and react faster to such events. He has delivered hundreds of millions of dollars of impact to his clients in High-Tech CPG and Manufacturing Industries, particularly in the areas of demand forecasting, inventory and procurement planning. Transcript.

Enterprise 131

Enterprise Management Forecasting Manufacturing 131

CIO Business Intelligence

DECEMBER 7, 2022

We haven’t changed our forecast in three quarters,” he says, noting that the US gross domestic product (GDP) is, technically, already in recession territory and has been for the past six months. Cloud-related services’ cost has risen by between 5% and 7% this year compared to last, IDC says.

IT 132

IT Insurance Cost-Benefit Risk Management 132

CIO Business Intelligence

MARCH 15, 2023

growth underscores how inflation, interest rate fluctuations, and consumer spending are reshaping forecasts, investment portfolios, and the CIO agenda. All things related to maintaining the systems to land, expand, and renew business at forecasted volumes are no brainers. Securing the technical estate from bad actors?

Uncertainty 98

Uncertainty Cost-Benefit Forecasting Insurance 98

CIO Business Intelligence

JUNE 13, 2022

Today, most banks, insurance companies, and other kinds of financial services firms have deployed natural language processing (NLP) tools to address some of their customer service needs. Juniper Research forecasts that in 2023 the global operational cost savings from chatbots in banking will reach $7.3

Deep Learning 105

Deep Learning Data Processing Insurance Cost-Benefit 105

CIO Business Intelligence

SEPTEMBER 10, 2024

Increasing demand for SaaS backup insurance — deemed critical for business continuity — comes in the aftermath of the CrowdStrike-Microsoft outage that impacted business globally this summer. billion in 2024 and is forecast to reach nearly $300 billion in 2025, according to Gartner.

Risk Management 130

Risk Management Risk Enterprise Insurance 130

CIO Business Intelligence

APRIL 24, 2024

The first use of generative AI in companies tends to be for productivity improvements and cost cutting. But there are only so many costs that can be cut. CIOs are well positioned to cut costs since they’re usually well acquainted with a company’s digital processes, having helped set them up in the first place.

Sales 128

Sales Finance Experimentation Cost-Benefit 128

Smart Data Collective

JUNE 5, 2023

Imagine a world where your home understands your habits, preferences, and even your routine, then uses this information to cut costs and save you money. Besides offering peace of mind, these features can reduce home insurance premiums. In the grand scheme of things, we’re not just talking about cutting costs.

Cost-Benefit 104

Cost-Benefit Insurance Big Data Predictive Analytics 104

Smart Data Collective

MAY 21, 2019

However, there are other benefits of big data that are just as important but receive far less publicity. Disaster planning is one of the areas that can benefit from big data solutions. In 2016, cyber-attacks cost the United States economy between $57 billion and $109 billion. Small devices also need to be carefully protected.

Big Data 83

Big Data Cost-Benefit Predictive Analytics Insurance 83

Smart Data Collective

FEBRUARY 2, 2021

For businesses, the advent of Big Data offers several key benefits, including helping them with customer acquisition, lead generation, targeted marketing campaigns, identifying potential opportunities and challenges , and creating new products based on the needs of the market. The post What Are the Industries That Benefit Most from Big Data?

Big Data 90

Big Data Recreation/Entertainment Cost-Benefit Finance 90

IBM Big Data Hub

FEBRUARY 14, 2024

Technical AI use cases Speed operations with AIOps There are many benefits to using artificial intelligence for IT operations (AIOps). More benefits from AI include building a more sustainable IT system and improving the continuous integration/continuous (CI/CD) delivery pipelines. See what’s ahead AI can assist with forecasting.

Cost-Benefit 82

Cost-Benefit Insurance Unstructured Data Machine Learning 82

CIO Business Intelligence

MAY 24, 2022

Providing a platform for fact-based and actionable management reporting, algorithmic forecasting and digital dashboarding. The third will examine the challenges of realising that value, the attributes of a successful data-driven organisation, and the benefits that can be gained. Insurance. THE GROWTH OF DATA. Oil and Gas.

Data-driven 98

Data-driven Data Lake Data Warehouse IT 98

Smart Data Collective

AUGUST 21, 2019

Millman has introduced some articles on the benefits of big data in the retirement industry. 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 Solving the Biggest Retirement Challenges.

Big Data 78

Big Data Cost-Benefit Insurance Statistics 78

Smart Data Collective

JULY 25, 2019

Companies work in the risk assessment realm when representatives decide whether to offer insurance or loans to clients. For example, if a company seems likely to file an excessive number of insurance claims, it could be a high risk for an insurance company and cause the company to pay higher premiums to compensate.

Big Data 90

Big Data Insurance Risk Cost-Benefit 90

IBM Big Data Hub

MARCH 28, 2024

According to a report from Future Market Insights (link resides outside ibm.com), the global private cloud services market is forecast to grow to USD 405.30 Private cloud combines the primary benefits of cloud computing (e.g., billion by 2033, up from USD 92.64 billion in 2023. What is a private cloud? Zoom, Adobe, Salesforce).

Enterprise 97

Enterprise Cost-Benefit Data Processing Software 97

IBM Big Data Hub

APRIL 4, 2024

In a report from Technavio (link resides outside ibm.com), the private cloud services market size is estimated to grow at a CAGR of 26.71% between 2023 and 2028, and it is forecast to increase by USD 619.08 Private cloud combines the main benefits of cloud computing—chiefly on-demand access to computing resources (e.g.,

Data Processing 91

Data Processing Cost-Benefit Software Digital Transformation 91

Smart Data Collective

DECEMBER 5, 2019

Some of the benefits of machine learning in the airline industry are listed below. One of the biggest benefits of this advanced form of AI technology is boosting operational efficiency. One of the biggest benefits of this advanced form of AI technology is boosting operational efficiency. Increasing Operational Efficiency.

Machine Learning 72

Machine Learning Cost-Benefit Strategy Insurance 72

bridgei2i

JUNE 30, 2020

The pre-COVID-19 forecasts are no longer kind of valid as the pandemic has entirely disrupted the market. Cheaper cost of raw materials, laborers, and lower duties has allowed most of the city manufacturers to either shift their factories to China or are depending on contracting manufacturers there. Thank you, Suvodip.

Enterprise 98

Enterprise Technology Digital Transformation Manufacturing 98

John Wheeler

APRIL 16, 2021

Given that Gartner forecasts double digit growth (12.6%) for the IRM technology market in 2021 , the nature of these innovative product uses will span 10 use case domains (see figure below). However, the key to these benefits lies in the integration of RiskTech via IRM.

Risk Management 59

Risk Management Risk Management Internet of Things 59

IBM Big Data Hub

OCTOBER 12, 2023

The tasks behind efficient, responsible AI lifecycle management The continuous application of AI and the ability to benefit from its ongoing use require the persistent management of a dynamic and intricate AI lifecycle—and doing so efficiently and responsibly. But the implementation of AI is only one piece of the puzzle.

Cost-Benefit 76

Cost-Benefit Metadata Data Governance Modeling 76

bridgei2i

AUGUST 4, 2020

And here’s how you’re going to cost justify this. But if you went to a company, you know, five years ago, six years ago, and you said, what are the top three benefits you’re getting from your core CRM investment? It’s streamlining the forecast process. And everybody got trained and you know what?

Sales 93

Sales Enterprise B2B Digital Transformation 93

IBM Big Data Hub

JUNE 15, 2023

Here are some of the benefits of effective asset management software: Centralized asset information: Maintenance workers need to know where an asset is and how it’s performing at all times. In order to do this, many use a computerized maintenance management system (CMMS) as part of their overall EAM approach.

Management 67

Management Broadcasting Cost-Benefit IoT 67

Jet Global

DECEMBER 9, 2020

Inventory reduction has other benefits as well. The cost of holding inventory is often overlooked. Insurance and excise taxes may reduce as inventory levels decline. Managers need clear answers to ad hoc questions about inventory obsolescence and liquidation, seasonal fluctuations, carrying costs, shrinkage, and more.

Reporting 81

Reporting Finance Sales Measurement 81

Jet Global

NOVEMBER 30, 2020

ERP vendors often claim that their software will help customers achieve significant cost savings. While there is a lot of truth to that statement, it is often the case that the biggest cost savings opportunities arise well after a new ERP system has been implemented. The company decided to take a closer look at material costs.

Enterprise 52

Enterprise Forecasting Finance Cost-Benefit 52

IBM Big Data Hub

FEBRUARY 13, 2024

Healthcare, insurance and education are more hesitant due to the legal and compliance efforts to which they must adhere—and the lack of insight, transparency and regulation in generative AI. This technology enables rapid evaluation and automatic adjustments, streamlining the design process significantly.

Enterprise 118

Enterprise Testing Modeling Data-driven 118

Data Insight

OCTOBER 27, 2021

And if we don’t utilise our data effectively, it simply becomes a cost instead of a strategic resource. Manufacturing: Forecasting expected demand, process automation, precision cutting, analysis of IoT data. The benefits of AI for businesses.

Machine Learning 52

Machine Learning Insurance Cost-Benefit Unstructured Data 52

Sisense

OCTOBER 29, 2020

In fact, according to forecasts by Western Digital, the storage capacity per vehicle could amount to 11 terabytes by 2030. These computers need to get smaller so that processing can be done in the car itself — this is important to reduce the amount of time lag and the cost of transferring data to the cloud.”. “For Advertising?

Machine Learning 90

Machine Learning Data Collection Cost-Benefit Advertising 90

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. Organizations across industries increasingly benefit from sophisticated automation that better handles complex queries and predicts user needs.

Enterprise 95

Enterprise Interactive Data-driven Key Performance Indicator 95

bridgei2i

AUGUST 4, 2020

And here’s how you’re going to cost justify this. But if you went to a company, you know, five years ago, six years ago, and you said, what are the top three benefits you’re getting from your core CRM investment? It’s streamlining the forecast process. And everybody got trained and you know what?

Sales 52

Sales Enterprise B2B Digital Transformation 52

Jet Global

JULY 8, 2020

However, bringing your factory from ninety percent efficiency to ninety-five percent would cost exponentially more than it would to improve a highly inefficient distribution process. However, a consistently high rate indicates poor forecasting and/or poor inventory management. Earlier, we talked about the carrying costs of inventory.

Metrics 52

Metrics Reporting KPI Key Performance Indicator 52

FineReport

APRIL 9, 2024

Benefits of Healthcare Business Intelligence Tools Improved Decision-Making: Healthcare BI tools enable informed decision-making by providing real-time data analysis and predictive insights. Optimized Operational Efficiency: These tools streamline processes and resource allocation, leading to cost savings and improved resource utilization.

Digital Transformation 52

Digital Transformation Business Intelligence Data-driven Visualization 52

datapine

OCTOBER 21, 2020

In fact, healthcare analytics has the potential to reduce costs of treatment, predict outbreaks of epidemics, avoid preventable diseases, and improve the quality of life in general. We will then look at 18 big data examples in healthcare that already exist and that medical-based institutions can benefit from.

Big Data 364

Big Data Data Analytics Analytics Cost-Benefit 364