It is amazing what you can do when you have the right data and the right tool to do the job. I’ve been working with one of our capital risk guys and he has been teaching me the inside and outs of the insurance business.
He has been teaching me the value of modeling your business data for analytical purposes. Using these models to build prediction into it so that you can have a better educated guess that is much better than your normal GUT guess.
Just remember, having a shinny business intelligence is great that has spinning pie charts. But if you really want to maximize the value of your analytical tools, you need to understand how to build good models so you can test your theories and have good expected outcomes.
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