Enterprising Developments

Next-Gen BI and Analytics: A Lot of Promise, a Lot of Politics Ahead

Joe McKendrick
Insurance Experts' Forum, October 18, 2010

Forrester Research just came out with its annual top-15-technology-initiatives-to-watch report, and some of their predictions show there will be a significant impact on the way insurance operations are managed. I pulled a couple of interesting nuggets from the report that bear watching as things progress.

Forrester predicts that “next-gen BI” is taking shape by combining real-time access with pervasiveness, agility and self-service. This trend, however, is actually several trends happening at the same time. The self-service aspect is one that many companies would like to see more of, but progress has been slow, as I alluded to in my previous post.

The other piece of this trend that Forrester talks about shaping the information technology world over the next three years is the growing shift from historical to real-time analytics. In addition, expect to see more analytics being applied to social data through text analytics tools.

Forrester also see the following shifts in BI as we know it:

More automation of analytics:  This will help manage and keep the many independent components of BI, including automated discovery, in sync, Forrester says

Pervasive BI:  Another vision companies aspire to— to embed analytics behind the scenes, supporting any and all applications

Unification:  Forrester sees increasing integration between “batch and real-time, historical and predictive, disk and in-memory, data and content

These are all technology-centric developments, of course. Anyone who's been around IT for a while knows quite well that we have the technology to do many astonishing things. What tends to slow down or even put the kibosh on well-intentioned initiatives, however, is organizational issues.  Forrester cautions just that: “The complexity challenge will not be around the technologies per se, but rather in the continued effort of gaining business consensus on data governance so that bad data is not driving strategic and operational decisions.” 

It’s an excellent case for staying on the cutting edge of BI and analytics.

Joe McKendrick is an author, consultant, blogger and frequent INN contributor specializing in information technology.

Readers are encouraged to respond to Joe using the “Add Your Comments” box below. He can also be reached at joe@mckendrickresearch.com.

This blog was exclusively written for Insurance Networking News. It may not be reposted or reused without permission from Insurance Networking News.

The opinions of bloggers on www.insurancenetworking.com do not necessarily reflect those of Insurance Networking News.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments...

Already Registered?

If you have already registered to Insurance Networking News, please use the form below to login. When completed you will immeditely be directed to post a comment.

Forgot your password?

Not Registered?

You must be registered to post a comment. Click here to register.

Blog Archive

CIOs: “We Don't Have Enough People to Run Our Mainframes”

Insurers will be competing with other industries for both legacy and “new IT" talent.

4 Ways to Keep Insurance Data Quality Healthy

Continually building trust and credibility in the data is the key to a successful data warehouse.

Customer Experience Trend Watch

Three recent HR moves demonstrate that large life insurers recognize customer experience as a strategic differentiator.

Insurers Have a Lot of Data, But Too Many Silos

Insurers actually have more data analytics resources than other industries.

Are Data Centers Shrinking or Expanding?

Today's data centers are doing far more with much smaller footprints.

Too Much Manual Effort is a Show Stopper

Examining the administrative burden of doing business in the E&S market.

Advertisement

Advertisement