With multiple channels and numerous ways to interact with companies, today’s customer journey is a complex weave of paths. Often, customers start and end their journey before the business is even aware of it. With today’s competitive market place, the companies that best understand their customer–
Interest in big data remains high. In fact, according to the 2012 study “Analytics: The real-world use of big data” that surveyed more than 1100 executives and practitioners from 95 countries, 75 percent of organizations have big data activities underway.
But that same study also uncovered two
Analytics solutions designed to handle the volume and variety of data available today also help insurance companies improve catastrophe risk modeling, through which companies determine the exposure of current policies and predict the probable maximum loss (PML) from a catastrophic event.
Across industries, big data has generated big buzz – and the travel and transportation (T&T) industry is no exception. In fact, T&T CEOs rank the “information explosion” among the top drivers of transformation for their organizations. In this blog, I want to discuss some of the ways in
In the extremely competitive automotive industry, leaders are looking for ways to differentiate their products by offering an improved driver experience.
One way to achieve this objective is to leverage the wealth of information coming from an increasingly instrumented world. Industry analysts
Big data means different things for different industries. The definition also differs within an organization, across departments and management layers within IT and business. Within IBM, big data spans four dimensions: volume, velocity, variety and veracity. At The Big Data Institute (TBDI), big
Just like the technology made available 100 years ago to discover oil and process it into consumable products, big data technology is still in the early stages of transforming and revolutionizing the way enterprises consume and use data more effectively to market and drive their businesses.
As industry marketing manager for Communications, I want to share with you highlights of the 2012 Big Data@Work Study covered in the executive report: Analytics: Real-world use of big data in telecommunications. The study and report, from the IBM Institute for Business Value (IBV) and Saïd Business
With access to vast and various data sources, media companies are striving to build closer relationships with their customers at a level where they can finally understand them as individuals. New big data and predictive analytics capabilities allow them to analyze customer and behavioral data –
One of the key best practices for successful implementation of a big data analytics solution is to validate the business use case for big data. It will help organization with two important aspects for success:
1. Keeping the scope limited
2. Helping to measure the success of a solution that
Solutions for analyzing big data can play a critical role in addressing the increasing prevalence of claims fraud. Traditionally, fraud is estimated to account for approximately 10 percent of insurance company losses, and that percentage is rising. Insurance companies need ways to quickly
In our Friday Data Flick series this week, we look at how companies are achieving an “enhanced 360-degree view of the customer,” which is another of the top five uses for big data (also called “use cases”). In less than 15 minutes, you can watch these two videos and walk away with a thorough
Part 2 in a 3-part series: Big Data and Next Generation Banking – Leveraging information and mobile to drive revenue and expand the customer value proposition
In the first part of this series authored by Marc Andrews, we discussed some of the challenges that are causing banks to adapt their
This week’s Friday Data Flick gives you insight into “operations analysis,” which is one of the top five uses (also called “use cases”) for big data. Operations analysis is about analyzing a variety of machine data to get improved business results. The key is combining machine and business data,
In my previous two blogs [here and here], I’ve talked about how cognitive computing and big data present the insurance industry with great opportunities and some challenges. To develop strategies that capitalize on the potential gold mine of information that big data represents, many carriers will