Banking / Finance

Insurance Firms ‘Failing’ To Take Advantage Of Big Data

24th Jul `13, 10:39 AM in Banking / Finance

Big data is becoming an increasingly important tool for many business organisations but new research by IBM has…

BDMS
Guest Contributor
 

Big data is becoming an increasingly important tool for many business organisations but new research by IBM has found that a large number of insurance companies are failing to take advantage of it.

A study carried out by Vanson Bourne, commissioned by Big Blue, revealed that 84 per cent of the 50 senior IT decision makers within the UK insurance companies queried said that they did not integrate customer data into a single database.

This highlighted that the sector could be falling behind other major corporations when it comes to efficiently analysing their data to find better ways in which they could target their current customer base.

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