The insurance industry may be a “data haven,” but turning the data into actionable insights is another story. If anything, many insurance decision makers are stymied by a form of “analysis paralysis” that keeps them from making the most of the data streaming in.
That’s the view of PegaSystems’ Eric Deitert, who has been exploring the potential of predictive analytics within the industry. In a blog post, he observes that for insurers, “the issue is not a lack of data. The issue is the data is constantly changing, and data paralysis halts analytic initiatives due to the massive data sets.”
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