Insurers' data swamps need dredging to win the data arms race
Insurers need to sort out their data swamps by creating data lake houses or risk being left behind in the “data arms race”, experts have warned.
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Insurers need to sort out their data swamps by creating data lake houses or risk being left behind in the “data arms race”, experts have warned.
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(Image: Getty) For most of us, making data-driven business decisions is a four-step process. First, you collect the data. Next, you "mine" it, which just means some combination of tools and data scientists look for patterns and correlations between different kinds of data. Third, those discoveries get pumped into the dashboards and visualizations that managers get to see. From there, it's up to the manager to interpret what the dashboard is telling them and make their decision. The problem there is that the data you've collected, and the patterns your tools and data scientists have discovere...