April 14, 2011 – Insurance carriers are inundated with data – data from their policy admin systems, financial systems, CRM systems, claims systems, etc. Because most carriers' IT systems grew up in siloed business units, there was little to no sharing of data across departments.
Business would ask IT to provide enterprise views, but IT would come back with very expensive programs to prepare the appropriate data model, cleanse the data, migrate and transform the data, mine the data and, finally, provide a report that was out of date because the data was days or weeks (or months!) old. This led to businesses creating massive numbers of Excel spreadsheets or Access database reports that were/are very myopic, and semantically inconsistent with their peers, who were doing the same task.
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