For insurance companies, the integration of big data and analytics solutions with telematics technologies offers important opportunities to extend the use of telematics data beyond usage-based insurance (UBI) and improve competitive differentiation.
Big Data Use Cases
How to define data strategy, align business goals and prioritize winning projects
How should a chief data officer (CDO) start formulating and deploying a strategy to put data at the center of the business?
This ebook provides insights and recommendations for the CDO in three areas: strategic alignment with the business, data strategy and project prioritization.
Transforming your business with big data and analytics is an ongoing journey, not a one-time event. This white paper outlines a five-step progression that helps you identify big data and analytics opportunities, establish models, prove value, scale and transform to a data-driven culture.
The Cincinnati Zoo and Botanical Gardens transformed the customer experience and created more than USD 2.2 million in total benefits in just three months.
Experiencing exponential growth in business, the VAASAN Group couldn’t accurately forecast fluctuating sales orders across the Nordic region.
The VAASAN Group now uses a powerful business intelligence solution that identifies trends in customer demand and generates a rolling sales forecast, helping the company predict its production requirements and prepare for fluctuating customer orders.
Nucleus Research examined XO Communications’s deployment of IBM Business Analytics and found it enabled XO to identify customers with a high likelihood to churn. XO client service managers used this predictive analysis to proactively contact those customers, improving customer retention and measurably increasing profits.
TEOCO’s assurance and analytics solutions, powered by IBM PureData System for Analytics, powered by Netezza technology, enable CSPs to access and analyze massive amounts of data to uncover the source of cost and network issues.
For banks today, having more ways to communicate with customers is a good thing. But it has also made it harder for banks to figure out where and how to most profitably commit their marketing resources.
Leveraging predictive analytics, First Tennessee Bank is applying the ultimate acid test. It’s combining a granular understanding of the needs of customer segments with real P&L data to optimize its marketing spend, focusing on programs that deliver the highest ROI.
First Tennessee’s ability to target its campaigns more intelligently has increased its response rate by 3.1 percent, cut key marketing costs by nearly 20 percent and enables the bank to get the most from its resources.
Santam wanted to find a way to improve its service to customers by settling claims faster and keeping premiums low.
To achieve this, the company needed to maximize operational efficiency and find smarter ways to combat fraud.
Santam worked with Olrac SPSolutions, an IBM Business Partner, to design a claims segmentation solution based on IBM SPSS® predictive analytics software.
Senior leaders at Westfield Insurance realized that future success depended on gaining a better understanding of the performance of its business and its network of agents. However, driving a more analytical approach to decision-making would require not only new technology, but also significant cultural change.
Westfield began its analytics transformation by creating an Analytics Resource Center (ARC) and building a powerful data warehousing and analytics platform under the sponsorship of its CEO. With the help of IBM® Global Business Services®, the ARC team worked with the IT team and internal business partners to develop a range of new analytics applications.