Imagine if you could make explicit the ‘best of the best’ decision-making of your underwriting or claims personnel, to reveal and harness, again and again, the thinking and facts behind their decisions.
Your business is almost certainly sitting on an untapped gold mine of data, both current and historic, such as documents and emails with their attachments, all stored and accessed using core business applications and other filing or archive systems.
Once used and filed this data (the majority of which will be unstructured – text and images), is rarely ever viewed or used again. It is the larger part of your ‘corporate memory’ representing the collective knowledge of transactions, decisions, and communications usually stretching back over many years.
Yes, you can augment your capability with new data with IoT sensors and other sources, but your current decision making is based upon lessons learned over many years.