There’s no shortage of data in the insurance industry, but most carriers realize there is a shortage of operational intelligence. BI projects are designed to take some of the dizziness out of that information overload.
For Karen Pauli, research director in the insurance practice for TowerGroup, the first step in a business intelligence project calls for getting your data in order, but there are other steps that need to follow for carriers to achieve success with their BI initiatives.
Insurance carriers have accumulated massive amounts of data over the years, which can present a daunting task when it comes time to turn that data into business intelligence (BI).
Insurance carriers have accumulated massive amounts of data over the years, which can present a daunting task when it comes time to turn that data into business intelligence (BI).
The first step [to a successful business intelligence initiative] is you have to have your data in order. But the second thing is you have to have some business objectives: What are you trying to accomplish with this business intelligence initiative?
The first step [to a successful business intelligence initiative] is you have to have your data in order. But the second thing is you have to have some business objectives: What are you trying to accomplish with this business intelligence initiative?