CIO Business Intelligence

AUGUST 21, 2024

Potential use cases spread across vertical industries that are steeped in document-intensive processes, including healthcare, financial services, banking, and insurance. What all these processes have in common is they involve unstructured content, which until fairly recently has been a challenge for automation tools.

Insurance 116

Insurance Management Metadata Unstructured Data 116

Cloudera

OCTOBER 21, 2020

The Insurance industry is in uncharted waters and COVID-19 has taken us where no algorithm has gone before. Today’s models, norms, and averages are being re-written on the fly, with insurers forced to cope with the inevitable conflict between old standards and the new normal. . Insurers are thinking on their feet.

Insurance 72

Insurance Unstructured Data Digital Transformation Cost-Benefit 72

CIO Business Intelligence

MAY 8, 2024

On behalf of insurance carriers, pharmacy benefit managers, and other healthcare payers, Expion negotiates prices with pharmacies and medical practices based on volume discounts and other factors. We take the financial risk for this, which means that if there is anything that’s misrepresented, the money comes from our pocket.”

IT 111

IT Insurance Cost-Benefit Unstructured Data 111

O'Reilly on Data

SEPTEMBER 19, 2023

While data scientists were no longer handling Hadoop-sized workloads, they were trying to build predictive models on a different kind of “large” dataset: so-called “unstructured data.” “Here’s our risk model. A single document may represent thousands of features.

Machine Learning 335

Machine Learning Testing Modeling Cost-Benefit 335

Cloudera

DECEMBER 11, 2020

These include the use of more data sources to gain insights and how cloud technologies can assist with digital transformation goals to be more agile and achieve objectives more quickly. Data Variety. Insurance and finance are two industries that rely on measuring risk with historical data models. Insurance .

Insurance 95

Insurance Digital Transformation Unstructured Data Machine Learning 95

bridgei2i

NOVEMBER 25, 2020

Automated Sales & Underwriting Strategies can Transform Insurance. One of the major repercussions of the COVID-19 pandemic in financial sectors has been the increase in awareness about insurable risks across categories and markets. Images 1: Challenges before insurance industry in the post-Corona world.

Insurance 52

Insurance Sales Strategy Digital Transformation 52

bridgei2i

OCTOBER 7, 2020

Adoption of Automated Sales & Underwriting Strategies can Transform Insurance. The insurance industry—which, in the US alone, stands at $1.2 trillion, is seeing the volume of insurance transactions growing every year. Images 1: Challenges before insurance in the post-Corona world. click here.

Insurance 52

Insurance Sales Strategy Digital Transformation 52

Cloudera

FEBRUARY 15, 2024

While there are clear reasons SVB collapsed, which can be reviewed here , my purpose in this post isn’t to rehash the past but to present some of the regulatory and compliance challenges financial (and to some degree insurance) institutions face and how data plays a role in mitigating and managing risk.

Insurance 88

Insurance Data Architecture Risk Management Risk 88

IBM Big Data Hub

DECEMBER 4, 2023

IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.

Insurance 53

Insurance Digital Transformation Risk Management Interactive 53

CIO Business Intelligence

JUNE 7, 2022

billion in cost savings for the insurance industry as well during the same period. . For banks, brokerages, insurance companies, fintech firms, and other financial services organizations, NLP is increasingly being seen as a solution to too much data and too few employees. The same study estimated that chatbots would lead to $1.3

Unstructured Data 98

Unstructured Data Deep Learning Insurance Interactive 98

Smart Data Collective

FEBRUARY 2, 2021

Also, thanks to Big Data, recruitment is now more accurate. Keep in mind that recruitment agencies have to deal with huge volumes of unstructured data, and analyzing all this data by traditional means is not only slow, but also ineffective. Public services.

Big Data 106

Big Data Recreation/Entertainment Cost-Benefit Finance 106

Cloudera

FEBRUARY 7, 2023

billion adults around the world do not have access to formal financial services, meaning that they cannot open a bank account or access credit, insurance, or other financial products. Cloudera Data Platform (CDP) has also been instrumental in helping banks solve the issue of financial inclusion in underserved communities.

Technology 76

Technology Unstructured Data Insurance Machine Learning 76

IBM Big Data Hub

OCTOBER 30, 2023

IBM, a pioneer in data analytics and AI, offers watsonx.data, among other technologies, that makes possible to seamlessly access and ingest massive sets of structured and unstructured data. A leading insurance player in Japan leverages this technology to infuse AI into their operations.

Insurance 77

Insurance Data Warehouse Data-driven Unstructured Data 77

IBM Big Data Hub

NOVEMBER 10, 2023

The rule laid out an interoperability journey that supports seamless data exchange between payers and providers alike — enabling future functionalities and technically incremental use cases. These requirements enable the exchange of important data between healthcare payers and providers.

Cost-Benefit 95

Cost-Benefit Insurance Unstructured Data Consulting 95

Sisense

MAY 4, 2020

In his article in Forbes , he discussed how some of the biggest names in global business — Nike, Burger King, and McDonald’s — and progressive newer entrants to huge sectors like insurance, are embracing data and analytics technology as a platform on which to build their competitive advantages. Organizations must adapt or die.

Big Data 78

Big Data Data-driven Snapshot Unstructured Data 78

Cloudera

SEPTEMBER 15, 2022

Structured data (such as name, date, ID, and so on) will be stored in regular SQL databases like Hive or Impala databases. There are also newer AI/ML applications that need data storage, optimized for unstructured data using developer friendly paradigms like Python Boto API. Diversity of workloads.

Metadata 87

Metadata Big Data Optimization Machine Learning 87

IBM Big Data Hub

FEBRUARY 14, 2024

They can streamline workflows to increase efficiency and reduce time-consuming tasks and the risk of error in production, support, procurement and other areas. Many stock market transactions use ML with decades of stock market data to forecast trends and ultimately suggest whether and when to buy or sell.

Cost-Benefit 82

Cost-Benefit Insurance Machine Learning Unstructured Data 82

CIO Business Intelligence

NOVEMBER 18, 2022

Physician notes from visits and procedures, test results, and prescriptions are captured and added to the patient’s chart and reviewed by medical coding specialists, who work with tens of thousands of codes used by insurance companies to authorize billing and reimbursement. This is a dynamic view on data that evolves over time,” said Koll.

Insurance 75

Insurance Contextual Data Testing Unstructured Data 75

Cloudera

NOVEMBER 25, 2020

Sample and treatment history data is mostly structured, using analytics engines that use well-known, standard SQL. Interview notes, patient information, and treatment history is a mixed set of semi-structured and unstructured data, often only accessed using proprietary, or less known, techniques and languages.

Data Warehouse 59

Data Warehouse Unstructured Data Analytics Visualization 59

CIO Business Intelligence

MARCH 20, 2024

Moreover, new sources of ever expanding data produced by generative AI and the unfettered growth of unstructured data introduce even more challenges. Data at rest. Data in motion. Risk considered in vendor contracts. Risk considered in vendor contracts. Cyber insurance. Password strategies.

IoT 64

IoT Unstructured Data Insurance Data Processing 64

bridgei2i

APRIL 9, 2019

Most enterprises and heavyweight financial companies are acquiring start-ups with the motive to analyze the massive amounts of unstructured data automatically. For a more detailed outlook on fraud prevention, read our blog on How Analytics Can Protect Insurers from Fraud. Wealth Management for Clients.

Unstructured Data 69

Unstructured Data Sales Data-driven Finance 69

bridgei2i

FEBRUARY 24, 2021

In this rapidly transforming digital landscape, we’re all experiencing a dramatic shift in the business scenarios, consisting of complex business hierarchies, multitudes of data flowing from all directions and time-consuming insights. Many organizations today are dealing with large amounts of structured and unstructured data.

Recreation/Entertainment 92

Recreation/Entertainment Cost-Benefit Digital Transformation Scorecard 92

Alation

FEBRUARY 13, 2020

At some level, every enterprise is struggling to connect data to decision-making. In The Forrester Wave: Machine Learning Data Catalogs, 36% to 38% of global data and analytics decision makers reported that their structured, semi-structured, and unstructured data each totaled 1,000 TB or more in 2017, up from only 10% to 14% in 2016.

ROI 52

ROI Cost-Benefit Unstructured Data Data Lake 52

Ontotext

SEPTEMBER 2, 2020

The risk is that the organization creates a valuable asset with years of expertise and experience that is directly relevant to the organization and that valuable asset can one day cross the street to your competitors. data principles to foster better collaboration and information reuse. For efficient drug discovery, linked data is key.

Insurance 72

Insurance Metadata Publishing Unstructured Data 72

AWS Big Data

FEBRUARY 21, 2023

Loading complex multi-point datasets into a dimensional model, identifying issues, and validating data integrity of the aggregated and merged data points are the biggest challenges that clinical quality management systems face. Additionally, scalability of the dimensional model is complex and poses a high risk of data integrity issues.

Data Warehouse 88

Data Warehouse Data Lake Cost-Benefit Metadata 88

bridgei2i

MAY 21, 2019

Most enterprises and heavyweight financial companies are acquiring start-ups with the motive to analyze the massive amounts of unstructured data automatically. For a more detailed outlook on fraud prevention, read our blog on How Analytics Can Protect Insurers from Fraud. Wealth Management for Clients.

Unstructured Data 40

Unstructured Data Sales Data-driven Finance 40

CIO Business Intelligence

DECEMBER 5, 2024

This shift streamlines operations, enhances business insights, and unlocks the full potential of data. Why data distilleries are a game-changer: Insights from the insurance industry Traditionally, managing data in sectors like insurance relied on fragmented systems and manual processes.

Enterprise 105

Enterprise Insurance Unstructured Data Business Intelligence 105

CIO Business Intelligence

SEPTEMBER 20, 2023

Naturally, what you’re able to do – and how much risk that involves – depends at least as much on the state of your own enterprise data platform. Your data platform is the foundation for foundation models,” says Ram Venkatesh, Chief Technology Officer at Cloudera.

Unstructured Data 131

Unstructured Data Insurance Cost-Benefit Interactive 131

CIO Business Intelligence

MARCH 27, 2023

At The Hartford Insurance Co., Cloud deployment, AI, analytics, a modern data ecosystem, and digitization of more business processes are at the top of the agenda to simplify interactions for customers, brokers, and agents and to bring the power of digital tools to employees. Deepa Soni, CIO, The Hartford Insurance Co.

Strategy 109

Strategy Digital Transformation Insurance Technology 109

CIO Business Intelligence

AUGUST 1, 2023

As many CIOs prepare their 2024 budgets and digital transformation priorities, developing a strategy that seeks opportunities to evolve business models, targets near-term operational impacts, prioritizes where employees should experiment, and defines AI-related risk-mitigating plans is imperative.

Digital Transformation 98

Digital Transformation Unstructured Data Strategy Data Science 98

CIO Business Intelligence

MARCH 28, 2024

Given the additional features and interpretability, LLMs can then help physicians make more informed decisions about disease trajectories, diagnoses, and risk factors of various diseases. Groups like CHAI could be replicated in any industry to ensure the safe and effective use of AI.

Unstructured Data 98

Unstructured Data Data-driven Insurance Risk 98

Alation

FEBRUARY 10, 2022

Data classification is necessary for leveraging data effectively and efficiently. Effective data classification helps mitigate risk, maintain governance and compliance, improve efficiencies, and help businesses understand and better use data. Mitigate Security Risk. Then, it labels them accordingly.

Data Governance 52

Data Governance Risk Insurance Business Objectives 52

CIO Business Intelligence

JANUARY 29, 2025

The insurance industry has been one of the first industries to fully embrace AI and quickly start finding ways to capitalize on its ability to parse vast databases of structured and unstructured data to surface meaningful information. But it is happening.

Insurance 52

Insurance Unstructured Data Cost-Benefit Interactive 52

CIO Business Intelligence

MARCH 11, 2025

Business alignment, value, and risk How can an enterprise know whether a business process is ripe for agentic AI? Does the business have the initial and ongoingresources to support and continually improve the agentic AI technology, including for the infrastructure and necessary data? Feaver says.

Consulting 127

Consulting Cost-Benefit Interactive ROI 127

CIO Business Intelligence

FEBRUARY 7, 2025

When it comes to productivity, finding the right data is consistently the number one pain point hindering employees performance, according to Peter Nichol , Data & Analytics Leader for North America at Nestl Health Science. Data surrounds employees every day.

Insurance 93

Insurance Business Driver Unstructured Data Experimentation 93