In Insurance industry the insurer, sells the insurance to the insured for a premium, the premium being the amount of money charged for the insurance coverage. Predictive analytics is used in appraising and controlling risk in underwriting, pricing, rating, claims, marketing and reserving in Insurance sector. According to the published marketing studies, predictive analytics is used in many of the large insurance companies in the areas of underwriting, claims and marketing.
Underwriting: In underwriting the business model is to collect more in premium and investment income than is paid out in losses. This need to be [...]
The Oil & Gas sector employees large number of Analysts. They are the early movers in the Analytics segment. These business work in the process of exploration, extraction, refining, transporting of oil and gas by oil tankers and pipelines, and marketing of petroleum products. Analytics is used in predictive maintenance, forecasting, analysis, energy trading, buy/sell, trade off, risk management and optimization. The Oil & Gas industry is divided in to divisions which are the upstream, downstream and midstream. Predictive Analytics is used in optimizations for upstream, downstream and midstream business process.
Predictive analytics helps organizations use their data to make better decisions. This is done by arriving at reliable, data driven logical conclusions about the current and future events. This is achieved by using a variety of data mining, statistical, game theory, machine learning techniques to make the predictions. Predictive analytics enables the organisations customer focused finding their business issues proactively in real time and addressing them at the right time to get the best outcomes. Application of Predictive Analytics solutions in the banking industry include, Cross Sell and Upsell, Customer Retention, Segmentation, Application, Fraud [...]
GuideSpark has leveraged the InsideSales.com platform to help triple call volumes, cut its sales cycle in half, and generate 150% more revenue. “InsideSales.com enables us to call more prospects in less time and follow up with leads much faster,” said Cambria Moreno, sales operations leader at GuideSpark. “This accelerates our sales pipeline and fuels revenue growth in a cost-effective way.”
GuideSpark transforms how organizations communicate with and engage their workforces through customized video and mobile experiences. Customers rely on GuideSpark’s robust SaaS-based platform to reach employees regardless of [...]
Rapid Insight Version 3.0 of Predictive Analytics Software : Rapid Insight, the provider of easy-to-use business intelligence and predictive analytics software, released version 3.0 of predictive analytics software. This release includes an improved user interface, an expanded set of automated analysis features, better visualizations, and faster algorithms. Analytics 3.0 has been redesigned to make it easier than ever before to quickly analyze data and build predictive models. Some of the enhancements include Faster automated modeling algorithms, Enhanced visualization capabilities, Fully customizable user interface, Automated Segmentation / Cluster [...]
20 new industry-specific solutions with pre-built predictive analytics capabilities from IBM : IBM has introduced 20 new industry-specific solutions with pre-built predictive analytics capabilities that will make it easier and faster for organizations across industries like retail, banking, telecommunications, insurance and others, to uncover and act on critical business insights. To ensure these solutions address the most critical business requirements in each industry and to optimize the accuracy of the predictive insights, IBM is working with clients and partners across various industries who are innovators in the use of advanced analytics, such as [...]