Minding the Gap
Legacy Systems and
New Data Sources
This article published in Information-Management takes a fresh look at new data sources and new technologies, examining their practical effects on existing insurance Analytics. It proposes a framework for analyzing the impact and adapting legacy systems in the face of technological change.
Change is coming in the form of new data sources — think in-vehicle geolocation and telemetry data, social networking sites, and even microblogging feeds such as Twitter. The question naturally arises of what, if any, of this data is relevant, let alone useful to insurers. Moreover, the sheer volume of this data, often referred to as “big data” can be daunting.
Where do we begin actually finding a way to make use of massive amounts of noisy data, sifting the relevant from the irrelevant, and adjusting an existing Analytics system to handle it all? It starts with a slight shift in perspective, one that allows a powerful framework for analysis to emerge, by which even mature, legacy systems can be analyzed and adapted to groundswell changes.
Download this article for new perspective on an old challenge, that of adapting legacy systems to new, even “big” data sources.