Four ways insurance benefits from business intelligence

Four ways insurance benefits from business intelligence

Every day, businesses are discovering new ways to tap into the power and potential of big data. Due to access to unprecedented amounts of information on business performance and consumer behaviour, companies are now able to refine their products and services in limitless ways. The insurance industry provides a good example of data being leveraged to help make beneficial business …

The Role of Social Media in Investigating Insurance Fraud

The Role of Social Media in Investigating Insurance Fraud

A Bugatti driver drove his beautiful car off the road and into the ocean. Why? It turns out the driver had insured his million dollar car for more than two million. He claimed it was an accident, but the insurance company found the action caught on video on YouTube: sufficient evidence to deny the claim and convict the driver of …

Big Data versus money laundering: Machine learning

Big Data versus money laundering: Machine learning, applications and regulation in finance

Predicting and acting upon financial fraud is one of the prime areas of application of advanced big data techniques like machine learning (ML). Earlier this week, a case of money laundering known as the Laundromat was uncovered by the Organized Crime and Corruption Reporting Project (OCCRP) involving a number of global banks active in the UK. Could ML help prevent …

5 steps to digital transformation using GIS

5 steps to digital transformation using GIS

Geographic information systems (GIS) empower analysts to query complex data sets to thoroughly understand their data and create actionable insights. These five steps show how spatial analysis can be used to transform an organisation 1. Bring all your data together Start by ditching your data silos and empowering your whole organisation to access accurate information from one reliable system. Spatial …

For location analytics

For location analytics, only the best, most current data will do

In geospatial tech, data has always been the lost stepchild. Or, it’s the “rocket fuel” of geographic information systems (GIS). Take your pick. It depends on who you work for or what you need. The bottom line? For location analytics, only the best, most current data will do. Today, data is the new bacon. It sizzles; it’s crispy; it’s essential …

Do you have a healthy big data culture?

Do you have a healthy big data culture?

One of the phrases on the buzz these days is big data, which claims to transform banking and insurance industries. Before embarking on such a journey, large organisations need to first understand that big data isn’t a plug-and-play initiative that would automatically make them “insight rich” (or super rich, come to that). From my experience, financial institutions are still insight …

Data Analytics For Lawyers

Data Analytics For Lawyers

Avoid the HiPPO! These three words can change the way anyone does business for the better. I will explain what I mean here at the end. First, it’s time to confront a cold truth. Like it or not, data analytics is becoming an increasingly important part of the business world, including the legal profession. For attorneys of all stripes then, …

Automate the business intelligence pipeline

Automate the business intelligence pipeline

Demand for data by today’s business users is growing exponentially in two ways. First, business users have exhausted the opportunities in the data they hold. They want more sources of data to find new value, and they want the data to be accurate to deliver analytic outcomes. Second, the number of data-savvy business analysts is larger than ever and growing …

5 Reasons to Use Business Intelligence at Your Call Center

5 Reasons to Use Business Intelligence at Your Call Center

People often speak of business intelligence (BI) in the same breath as “business performance improvement” (BPI) and “informed decision-making.” Both statements are true and entirely applicable to the modern call center. However, business intelligence holds other benefits for your call center or collections agency. We discuss a few of them here, alongside the aforementioned BPI and decision-making. Allow yourself to …

Why Healthcare is Behind the Data Curve

Why Healthcare is Behind the Data Curve

The healthcare sector has been trailing industries such as banking and retail when it comes to adoption of data analytics, but a growing number of success stories in healthcare provide proof of concept for other organizations to get on board. Nearly every industry is searching for ways to create value from rapidly expanding amounts of data, but few sit on …