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). That is why gaining some control of that data is the first step recommended by industry analysts and insurers to achieve a successful business intelligence plan.
For Karen Pauli, research director in the insurance practice for TowerGroup, the first step calls for getting your data in order, but there are other steps that need to follow closely.
"You have to have some business objectives," says Pauli. "What are you trying to accomplish with this business intelligence initiative?"
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