The Unrealized Value of Data
While reporting is used to look back in time to evaluate the past, data analytics looks at multiple sources of data to predict future events and suggest courses of action based on data in motion. Data analytics can be used to produce data-driven insight that can be used both internally and also delivered to clients as a value-added service.
Data analytics identifies trends automatically which can be used by agency colleagues to develop even more meaningful insight or to identify potential insight that may be overlooked.
Building an Enterprise Data Strategy
Organizations develop data architectures that can look very different based on their systems, internal sophistication and desired outcomes. While most agencies provide some level of analytical insight the process is usually very manual, costly and not applied to all clients. The development of an enterprise capability enables the agency to build specific use cases across all departments, and lines of business. The automated nature of the capability provides for insight that can be delivered to all clients regardless of their level of associated revenue to the firm.
Agency Elements has been at the forefront of the data revolution as it rapidly moves into the insurance industry. While data analytics is a rapidly evolving space we have the experience, methods and tools to evolve your agency’s data literacy.