Predictive Analytics: A Force Multiplier for Big Data

See on Scoop.itData Nerd’s Corner

Point I want to highlight here is that Big data is a revolution in itself as it enables organizations identify, store, process and analyze data sets from outside the organizations in a way which was not possible thus far.

Carla Gentry CSPO‘s insight:

What’s even better is that predictive analytics makes it possible not only to analyze the past, but predict the future too with high degree of confidence level. For example, social media data can enrich risk modeling and help auto insurance companies prepare much better risk profile of an individual. Car sensor data can help auto insurance companies better assess risk posed by a driver’s habits (like speeding, fast acceleration or braking) and come up with auto insurance policy tailored to that specific individual with individual level premium (not at a zip code or a city level).

See on

Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: