Big Data Difficulties in the Insurance Industry - "insurers think their peers have difficulty finding value in Big Data"
Mo Data stashed this in Big Data in Insurance
That's one conclusion that can be drawn from a recently-released report from Celent, "Perceptions and Misconceptions of Big Data in Insurance." Celent asked the 276 respondents to describe how the adoption of big data was progressing among their competitors. "In general," Celent concluded, "insurers think their peers have difficulty finding value in Big Data."
The first company that breaks out of the pack is going to reap tremendous rewards. But its going to take some thought and effort into how to best exploit big data, instead of looking over the shoulders of competitors, or throwing up one's hands in frustration.