Why Auto Insurance Industries are Going Big with Big Data Analytics?

From its earliest days, the auto insurance industry has been typically data-centric. Recalling the days back in the past, auto insurance companies relied on historical data from policy administration solutions, billing systems, and claims management applications. In present days, the explosion of new data formats is turning the old-world auto insurance business model on its head and the palpable changes that are currently being felt in this field are shifting their focus towards a positive diversion for them. Mobility services, cloud computing, and big data analytics are these new-age change bearers.

We have seen that the growth in vehicle telematics has had a larger influence over auto insurance companies and so far numerous advancements have come aboard this new bandwagon of change. Therefore, as a result, Big Data Analytics is playing a prominent role to ensure the need of a secure and convenient way of storing and accessing data.

Big Data Analytics – Innovation in Healthcare Data Management

Healthcare is an ever growing industry with increasing amounts of data that include patient records, compliance requirements and regulatory information. Traditionally, they were stored as hard copies and with the increase in data, the need for bigger space increased. The onset of technology changed the face of data management. Digitalizing information reduced the amount of paperwork and the physical space. However, it was not enough for organizing huge quantities of complex data.

Big Data Analytics for Healthcare Providers

Big Data refers to huge volumes of data that is complex and fluid that traditional database systems are not capable of handling. Big Data Analytics is an advanced technology for the storage, management, analysis and distribution of large quantities of intricate and variable data.

Is Big Data a Mind Boggling Game Changer?

If performance improvement is the concern for businesses, consider implementing an enterprise-wide analytics strategy.

Let’s get real. According to a survey by NewVantage Partners (NVP) says 69.6% of firms see big data vital for business success. The overloading information with frenetic digitization makes businesses to tread with care and use data for success. Data is everything in a knowledge society where informed customers are its crux. Markets demand that yesterday’s statistical analysis will not help businesses to face the complex scenario today. Hence the growing demands for big data technologies to stay relevant.

Now the question ‘how bigdata is a game changer?’ has to be addressed holistically. Bigger businesses face competition from organizations of the same size, medium sized firms as well as from small firms. A competitor is an enemy who can eat into the market reach of one particular business. Secondly, the informed customer will not just believe the information or ads provided by the company. They leverage social media to make a purchase decision on their mobile devices.

Businesses, What is Your SMAC Strategy?

What has Social, Mobile, Analytics, and Cloud (SMAC) in store for businesses and where this is leading?  Businesses have concerns about digital technologies and its impact on the future. Today, many businesses have automated their processes and operations. SMAC technologies are creating a new round of revolution in the constant process of change for businesses.

Today’s mobile community – businesses, workforce, and customers are well connected through mobile applications. Businesses want to execute fast decisions, implement new strategies to retain and expand their markets. The workforce is required to use automated tools to streamline processes and operations with the help of cloud enabled mobile technologies. Customers want to shop online or offline with insights derived from social media. So in one sense all stakeholders want SMAC.

Data Warehousing & BI Drive Better Outcomes!

A dramatic change has come over the healthcare industry lately. To be sure, it is being driven to focus more on technological, even economic and social forces, and these transformative changes are simultaneously reshaping the world in which the industry is operating.

So far as healthcare’s enterprise data warehousing and business intelligence (BI)consulting service is concerned access to real-time healthcare data/information across the care continuum through multiple channels has become the new paradigm for innovation.