FinTech disruption is changing how we think about banking. In the past, customers had to visit a branch just to deposit a check. Now, many deposits are made directly from phones, whenever and wherever needed. This convenience comes at a cost. Traditional banks have to make major changes to their business strategies. They also have…
Are you making the most out of your data? For many businesses, there’s plenty of room for improvement. That’s where data governance and data management come in: These processes ensure that businesses collect the highest-quality data possible and manage it effectively. But which process is most important: Data governance vs. data management? There are pros…
About $80 billion in fraudulent insurance claims are made every year in the United States, and this is just a conservative estimate. Many more cases of fraud go undetected because insurance companies don’t have reliable tools to identify them. However, there’s a solution to this widespread problem. Using comprehensive data analysis for insurance fraud prevention,…
All business owners want their organizations to be as efficient as possible. They want to make sure that their time and resources are being put to good use. Business intelligence helps agile organizations achieve that goal. An effective BI strategy can speed product development and improve the quality of the services you offer. By picking…
More banks are making the switch from traditional on-premise data storage systems to cloud computing and storage. Part of the reason why cloud computing in banking is becoming so popular is because cloud-based systems are more secure than ever. However, some financial administrators are still wary of cloud computing. They worry about data breaches, poor encryption…
There are more than 700,000 business strategy consulting firms worldwide, and the number is expected to increase. What has led to this boom in business consulting? Here are three possible reasons: More consulting firms are using data analytics to accurately identify industry pain points; Advanced firms use offshore technology to maximize existing resources and infrastructures;…
Some of the most successful companies in the world use business intelligence (BI), and the insurance industry is no different. Companies that use BI services and tools have many advantages over those that don’t, including: Better data storage options More accurate data analytics and reports Reliable predictive modeling Business intelligence in the insurance industry is…
Fixed cost IT support services can take a ton of work off your plate. When you hire an IT staffing firm, you’ll get fast, reliable technical support daily—and you won’t have to carefully calculate your IT budget every month. However, while there are many benefits to fixed cost IT support services, you might wondering whether…