What will the future of data mining look like?

The future for data mining looks very promising at the moment and the data is only increasing. Did you know that during 2020, accumulated digital data grew by around 44 zettabytes and 1.7 megabytes per second for each person around the world?

Just as mining techniques have evolved, so have those technologies that are responsible for extracting valuable information. Not so long ago, only organizations like NASA could use their supercomputers to analyze data; the cost of storing and computing data was too high for most entities.  

Today, companies are doing all sorts of cool things with machine learning, artificial intelligence, and deep learning with cloud-based data lakes. This is the case with LISA Insurtech!

 Machine learning can generate unlimited knowledge about people and organizations. This is how companies can collect, store and analyze a large amount of information.

Cloud based technologies make it more convenient and cost-effective for organizations to access big data and computing resources. Thus, enabling companies to quickly collect data from sales, marketing, the Internet, inventory and production systems, and other sources; and act accordingly to improve results.

One may wonder, how do you choose a technology  that will get your business  the most value from data mining? Look for a platform that:

  • Incorporates best practices for the industry or type of project. Healthcare organizations, for example, have different needs than insurance companies.
  • Manage the entire data mining lifecycle, from data exploration to production.
  • It can be aligned with business applications, including BI, CRM, ERP, financial systems, and other business software that you must interoperate with for maximum return on investment.
  • It integrates with leading open source languages, providing developers and data scientists with the flexibility and collaboration tools to create innovative applications.
  • Meets the needs of IT, data scientists, and analysts while serving the reporting and visualization needs of business users 
Why is so important to the insurance industry?

One of the most important assets for the insurance industry is your information and everything we can do with it.

We can analyze, understand and carry out plans to offer better products, services and personalized attention to each of our clients.

Understanding that industries are changing with the current technological avalanche, forces us to move quickly in order to be up to what our old and new customers want.

LISA Insurtech has the necessary experience to accompany traditional insurance companies in their digital transformation

If you want to know more, click here

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