A: “We were recently approached by an established insurance broker that offers a diverse range of insurance services to the public. They employ 100+ advisors that provide professional advisory services to their customers, helping them to choose the correct policies for their needs.
The firm has obtained vast amounts of Big Data relating to customers, claims, policies and processes in their operations. If used correctly, they knew that this data could be turned into an essential Analytics tool that would allow them to provide a better customer experience, in addition to reducing their own expenses, make better calculated business decisions and ultimately help them to gain a better market share”.
A: “Their advisors had access to the data, but it was difficult to validate because it was fragmented and unworkable due to the lack of any analytical capabilities.
They also found themselves searching this data using a confusing mix of bespoke and 3rd party applications.
Data ownership was also a concern because they operate within an industry sector where Data protection and data security compliance is essential and any breach in information could lead to losing clients or legal action”.
A: “It was our job to introduce a secure platform to manage this data and turn it into an advanced analytics tool by making sense of the internal and market Making Big Data work for an SME To get a further insight into the role Big Data is playing for SMEs, we spoke to Katie Parsons, Business Analyst. information and the records that are obtained in their day-to-day operations.
We sat down with the firm to gain an understanding of how they work, what data they collect, where they collect it from and how they wished to integrate this data into their business strategy going forward.
After speaking with the client, we decided to implement an entirely bespoke Big Data analytics engine with an advanced database that facilitates the collection of high volumes of data from their CRM, Helpdesk, accounts and quoting systems, transforming this data into real-time analytics, all of which can be accessed on-the-fly.
The back-end of this engine is highly complex but well-hidden behind a user-friendly dashboard, which is accessible to permitted users from multiple devices”.
A: We were very conscious of the importance of data security and compliance. This is maintained through the introduction of two-step authentication, user activity logging and advanced data encryption in addition to an additional layer of advanced data leakage prevention technologies.
A: Ultimately, by developing a bespoke Big Data analytics solution, we have equipped their business with highly advanced analytical capabilities that are only typically available at large organisations with a greater market share. We’ve also implemented a highly secure data backup solution that replicates their critical data in the cloud for business continuity and compliance.
Katie Parsons is a Business Data Analyst that works at Complex IT and our sister company, Our IT Department. You can find Katies interview in the latest edition of Business Talk Magazine, which focuses on how small businesses can take advantage of the Big Data Boom.
Visit our Project Management page to find out more about our comprehensive range of IT Project Management services and solutions.