Smart Data Collective

SEPTEMBER 29, 2022

There are a number of benefits of using it to your company’s advantage. A growing number of companies have leveraged big data to cut costs, improve customer engagement, have better compliance rates and earn solid brand reputations. The benefits of big data cannot be overstated. Using OCR: the benefits for your business.

Data-driven 145

Data-driven Data Quality Optimization Insurance 145

AWS Big Data

JULY 16, 2024

This post is written in collaboration with Clarisa Tavolieri, Austin Rappeport and Samantha Gignac from Zurich Insurance Group. Zurich Insurance Group (Zurich) is a leading multi-line insurer providing property, casualty, and life insurance solutions globally.

Insurance 128

Insurance Management Cost-Benefit Optimization 128

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

CIO Business Intelligence

MARCH 4, 2025

From AI models that boost sales to robots that slash production costs, advanced technologies are transforming both top-line growth and bottom-line efficiency. Operational efficiency: Logistics firms employ AI route optimization, cutting fuel costs and improving delivery times. Thats a remarkably short horizon for ROI.

Technology 118

Technology ROI Cost-Benefit Manufacturing 118

Smart Data Collective

JANUARY 19, 2023

Are you looking for a way to reduce the cost of your development efforts? The cost savings associated with DevOps on the cloud are significant. By leveraging existing cloud-based services, businesses can save time and money by avoiding costly IT overhead costs like maintenance, licensing fees, and server infrastructure setup.

Optimization 124

Optimization Cost-Benefit Software Measurement 124

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. At the same time, inventory metrics are needed to help managers and professionals in reaching established goals, optimizing processes, and increasing business value.

Metrics 286

Metrics KPI Cost-Benefit Dashboards 286

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

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

DECEMBER 1, 2022

For over 130 years, Hastings Mutual Insurance Company has served and protected its clients throughout the Midwest. Although current operations were running optimally, Hastings understood that its PAS’s lack of integration with modern technologies would eventually create issues.

Insurance 111

Insurance Management Cost-Benefit Digital Transformation 111

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. That includes a couple of the major open source models, he says, because they offer privacy, cost advantages, and lower latency.

Software 143

Software Risk Enterprise Cost-Benefit 143

Smart Data Collective

MAY 8, 2022

Their skepticism has waned significantly, as they have finally started to discover the countless benefits that big data has to offer for their industry. Verizon Connect has talked at length about the benefits of using big data to streamline many business operations for fleet management. Dispatching the Closest Vehicles.

Optimization 122

Optimization Data Analytics Management Analytics 122

AWS Big Data

AUGUST 21, 2024

To address this requirement, Redshift Serverless launched the artificial intelligence (AI)-driven scaling and optimization feature, which scales the compute not only based on the queuing, but also factoring data volume and query complexity. The slider offers the following options: Optimized for cost – Prioritizes cost savings.

Optimization 96

Optimization Data Lake Data Warehouse Cost-Benefit 96

Smart Data Collective

AUGUST 11, 2022

There are many great benefits of using data analytics to improve financial management strategies. Insurance companies are using data analytics to improve their actuarial processes. However, there are equally important but often overlooked benefits of using data analytics in finance.

Data Analytics 128

Data Analytics Optimization Analytics Cost-Benefit 128

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

CIO Business Intelligence

FEBRUARY 27, 2023

Italian insurer Reale Group found itself with four cloud providers running around 15% of its workloads, and no clear strategy to manage them. “It But now that the immediate necessity of the switch to remote operations and remote management has passed, enterprises are seeking other benefits as they build their multicloud environments.

Cost-Benefit 143

Cost-Benefit Insurance Enterprise Optimization 143

datapine

OCTOBER 11, 2023

Keep on reading to learn a definition, benefits, and a warehouse KPI list with the most prominent examples any manager should be tracking to achieve operational success. Now, let’s look at some benefits to keep putting the power of warehouse key performance indicators into perspective. But how do you know which indicators to track?

Metrics 217

Metrics KPI Management Cost-Benefit 217

CIO Business Intelligence

MAY 8, 2024

Process automation and improvement is a perennial CIO agenda item, and the call for business process optimization is only getting louder — especially for those processes directly tied to the bottom line. Suresh Kumar, chief transformation officer for mergers and acquisitions at Expion. “We

IT 111

IT Insurance Cost-Benefit Unstructured Data 111

O'Reilly on Data

SEPTEMBER 19, 2023

.” Consider the structural evolutions of that theme: Stage 1: Hadoop and Big Data By 2008, many companies found themselves at the intersection of “a steep increase in online activity” and “a sharp decline in costs for storage and computing.” And harder to sell a data-related product unless it spoke to Hadoop.

Machine Learning 336

Machine Learning Testing Modeling Cost-Benefit 336

CIO Business Intelligence

MAY 28, 2022

As the Boston-based insurance company’s journey to the cloud has unfolded, it has also maintained a select set of datacenters from which to run legacy applications more economically than they would on the cloud, as well as software from vendors that make licensing on the cloud less attractive. The benefits of a solid cloud foundation.

Insurance 145

Insurance Machine Learning Digital Transformation Cost-Benefit 145

Smart Data Collective

DECEMBER 19, 2022

Cloud computing offers a number of important benefits for healthcare providers. What Are the Benefits of Cloud-Based Medical Billing Technology? As soon as the billers receive the necessary information, they prepare a claim for the insurance company. The benefits of cloud computing for medical billing cannot be overstated.

Software 131

Software Technology Insurance Cost-Benefit 131

CIO Business Intelligence

SEPTEMBER 24, 2024

This is a significant change moment,” says Rich Wiedenbeck, CAIO of Ameritas, an insurance and financial services company headquartered in Lincoln, Nebraska. See IDC PlanScape: Unit-Based Costing to Optimize IT Performance for an exploration of how unit cost can be applied to digital products and services.)

IT 130

IT Insurance Cost-Benefit Risk 130

Smart Data Collective

AUGUST 29, 2022

There are a lot of benefits of using analytics to help run a business. These tools help companies boost productivity , reduce costs and achieve other objectives. For example, insurance companies use cluster analysis to detect false claims, while banks use it to assess creditworthiness. Times are changing — for the better!

Analytics 132

Analytics Predictive Analytics Machine Learning Insurance 132

Smart Data Collective

MARCH 29, 2023

However, we have quickly realized that ChatGPT has benefits that go well beyond writing more efficiently. A couple of weeks ago, General Motors started testing the benefits of ChatGPT in its products. General Overview of the Benefits of AI in the Automotive Sector The market for AI in the automotive industry is booming.

Manufacturing 116

Manufacturing Cost-Benefit Machine Learning Optimization 116

Corinium

APRIL 25, 2019

Ahead of the Chief Data Analytics Officers & Influencers, Insurance event we caught up with Dominic Sartorio, Senior Vice President for Products & Development, Protegrity to discuss how the industry is evolving. Are you seeing any specific issues around the insurance industry at the moment that should concern CDAOs?

Insurance 150

Insurance Risk IoT Data-driven 150

CIO Business Intelligence

JANUARY 8, 2024

Build a robust talent development plan Monica Caldas, CIO and executive vice president with Liberty Mutual Insurance, believes that a strong, skills-focused development plan should be an imperative for IT leaders in 2024. As AI continues to redefine work, its benefits are already becoming clear.

Cost-Benefit 142

Cost-Benefit Digital Transformation Optimization Measurement 142

Smart Data Collective

MAY 16, 2022

AI can analyze data from a variety of sources to help businesses determine which benefits and salary levels will be most appealing to potential employees. In this blog post, we will discuss how AI is being used to create optimal employee compensation packages and the benefits this technology can offer your business.

Cost-Benefit 134

Cost-Benefit Machine Learning Advertising Marketing 134

CIO Business Intelligence

JUNE 6, 2024

When it’s done well, every choice is calculated, made mindfully of both its short- and long-run impacts, and of the delicate balance in which it must hold certain key variables — cost, productivity, digital maturity, and the potential to build capabilities that last. Among such leaders is Barry Perkins. Among such leaders is Barry Perkins.

Strategy 122

Strategy IT Cost-Benefit Digital Transformation 122

CIO Business Intelligence

MAY 1, 2024

Telcos surveyed by McKinsey demonstrated the same blend of optimism and restraint as other industries, with a majority claiming to have cut costs with gen AI, and seen increases in call center agent productivity and improvement in marketing conversion rates with personalized content — both with models deployed in weeks rather than months.

Cost-Benefit 143

Cost-Benefit Metrics Insurance Measurement 143

Smart Data Collective

JUNE 30, 2022

More companies are using data analytics to optimize their business models in creative ways. Some of the ways that data analytics can help companies improve their logistics include: Optimizing transportation routes Improving shipment schedules Reducing errors with delivery and pickup. Optimized inventory management.

Analytics 126

Analytics Cost-Benefit Big Data Analytics Technologies 126

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 128

Data-driven Cost-Benefit Data mining Big Data 128

Smart Data Collective

MAY 10, 2022

You should notice that many companies outsource their customer support to other countries with lower wages to cut costs. Doing so saves time for the agent and customer and reduces cost. The analysis helps them execute trades at the most optimal prices. The auto insurance sector is the most typical use case for AI in insurance.

Marketing 128

Marketing Technology Insurance Machine Learning 128

CIO Business Intelligence

DECEMBER 1, 2023

IT leaders looking for a blueprint for staving off the disruptive threat of generative AI might benefit from a tip from LexisNexis EVP and CTO Jeff Reihl: Be a fast mover in adopting the technology to get ahead of potential disruptors. We will pick the optimal LLM. It was just staggering in terms of its capabilities.”

Cost-Benefit 128

Cost-Benefit Digital Transformation Machine Learning Deep Learning 128

CIO Business Intelligence

SEPTEMBER 13, 2022

For the evolution of its enterprise storage infrastructure, Petco had stringent requirements to significantly improve speed, performance, reliability, and cost efficiency. Salem Five ended up banking on Infinidat for its storage because InfiniBox is an extremely reliable platform that self-optimizes performance.

Enterprise 97

Enterprise Insurance Cost-Benefit ROI 97

CIO Business Intelligence

DECEMBER 5, 2023

Some organizations have been innovating, transforming, and growing so fast that they haven’t had time to clear up older cost structures that start getting in the way,” says Stewart Buchanan, research vice president on Gartner’s CIO team. Each dollar of operational cost reduction drips directly to the bottom line.”

IT 138

IT Cost-Benefit Digital Transformation ROI 138

AWS Big Data

JUNE 25, 2024

By eliminating the need for data replication, this integration improves efficiency and reduces costs while enabling real-time access to valuable business data. In this post, we explore the benefits of the new Zero Copy Data Federation and provide a step-by-step guidance to configure it in Salesforce Data Cloud. What is Amazon Redshift?

Data Lake 118

Data Lake Cost-Benefit Data-driven Data Warehouse 118

CIO Business Intelligence

JULY 24, 2024

Meanwhile, efforts to re-engineer these models to perform specific tasks with retrieval augmented generation (RAG) frameworks or customized small language models can quickly add complexity, significant cost, and maintenance overhead to the AI initiative. Our insurance LLM model, for example, the model contains two billion tokens for training.

Modeling 75

Modeling Insurance Cost-Benefit Unstructured Data 75

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