Three insurers among top 50 organizations in data analytics

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Fifty organizations that excel at data analytics will be honored for their efforts on May 2, at the Drexel LeBow Analytics 50 Awards Ceremony.

An annual event, the awards ceremony will be held at Drexel University’s LeBow College of Business Gerri C. LeBow Hall in Philadelphia. The evening’s festivities begin at 5 p.m. with a cocktail hour, followed by dinner and the awards ceremony from 6 to 8 p.m. The keynote speaker will be Yao Morin, chief data officer at StubHub.

Whether streamlining processes, calculating risk exposure or influencing customer behavior, many organizations are trying to reach new levels using data. Gaining momentum, though, can be a challenging undertaking, note the program organizers.

According to a 2018 survey of leading organizations conducted by NewVantage Partners, 69 percent of companies reported that they haven’t yet made a shift to becoming data-driven. Nearly all survey respondents said their companies are aiming to get there, but only one third of those companies have experienced success, the organizers say.

Analytics strides must be paired with a clear organizational strategy for the most significant impact – and tackling challenges with data is an achievement that Drexel University’s LeBow College of Business doesn’t want to go unnoticed, organizers say.

As part of its emphasis on academic-industry collaboration, the university’s Center for Business Analytics recognizes 50 organizations using analytics in notable and innovative ways to solve business problems. The nationwide initiative spans across industries such as insurance, sports, transportation, retail and healthcare.

“It’s a privilege to continue recognizing such important work – not only the organizations’ winning projects, but their overall proclivity toward data-driven decision making” says Diana Jones, director of the Center for Business Analytics at Drexel University. “The goal of the Analytics 50 is to applaud and amplify these approaches that ultimately shape how organizations operate.”

From multinational and for-profit corporations to nonprofit and government organizations, the 2019 award recipients have used analytics to help combat disease, reduce crime, strengthen customer relationships, improve patient care, and better serve their communities.

“Many of this year’s honorees are not only using analytics to drive results. They’re serving as culture changers, establishing a data-centric way of thinking, working, and making decisions,” says Murugan Anandarajan, professor of decision sciences and MIS at Drexel University. “For any type of organization, that type of shift can be the most powerful.”

Honorees were selected by a panel of researchers and practitioners who judged nominations based on the complexity of the business challenges they faced, the analytics solutions implemented, and the solutions’ business impact on the organization.

This year’s insurance winners include Aetna, CareFirst BlueCross and BlueShield, and MetLife.

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