IBM wants to sell you something... Big Data brings big opportunities for insurers - 2 page PDF download bursting with buzzwords
Mo Data stashed this in Big Data in Insurance
This might be useful though:
"WHERE TO START?
A prudent start would be for insurers to ask themselves what is it they are looking to achieve from a Big Data solution. It’s all too easy to acquire substantial volumes of data and then for the business to go fishing for insights that might reduce the value the business can derive from the solution and therefore impact the perception of the solution within the organisation.
There are three steps insurers should follow when embarking on the Big Data journey:
1. Insurers should start by outlining potential use cases for Big Data.
2. Insurers should outline the importance of these use-cases and what the value would be to the organisation.
3. The concept of “data labs” should be introduced in order to validate the use case against a subset of data before the process is “industrialised” into the insurers data architecture.
Organisations should consider starting on the Big Data journey with the introduction of data labs for the high value use cases in order to prove value and the approach early. IBM has provided expertise in applying Big Data solutions to solve complex challenges in customer acquisition, retention, marketing, risk and fraud. We have an established approach to discover, define, pilot and maintain these solutions, and establish the data privacy, governance and information management to successfully test and use Big Data."
THE MO-DATA CHALLENGE
Folks seriously if you want to do some of this, call us at Mo-Data.com, by the time the IBM salesperson flies out from New York or North Carolina, we'll have actually delivered you a small solution that will show you the business value - and likely for about the same price as the business class ticket, rental car and fancy hotel.
Stashed in: Mo Data