Many enterprises are satisfied with dropping data points into an analytics package and visualising as histograms, heat-maps e.g.
- top 10 postcodes for whiplash insurance claims
- streets where most traffic penalty charge notices (PCNs) are issued
- streets where most PCNs are cancelled
- Useful, but only the tip of the iceberg.
The adoption of smartphones and tablets as data sources by insurtech platforms like 360Globalnet is a way of speeding up the process of managing insurance claims for vehicles, buildings and contents. Claimants can input details of the claim on webforms, and add photo and video images. The location data ( date & time-stamped) is an invaluable mine of information. Add to this data from telematics and dashboard cameras and the value increases geometrically:-
- Whiplash claims by road junction, roundabout or other location
- Merge with time of day data
- Join this with location of solicitor and second-hand car dealer, car repair shop, scrapyard
Now you have a better way of identifying potential fraud and validating bona fide claims
We have not even mentioned machine sensors, the IoT and the wealth of locations and analytics data. It is no longer good enough to just visualise this- solutions such as that from Carto give enterprises access to:-
- analyse internal and external geo-location data
- join location and enterprise data
The extra insights gained could be the difference between an average performing enterprise and a top quartile performer.
In fact, I can guarantee that .
Despite its success online, relatively few companies with physical venues employ advanced analytics solutions that track customer behaviors in their physical spaces. As a result, most companies are flying blind when it comes to understanding their customers in the analog world.