Recent developments in the design, deployment, and management of Big Data applications are making it easier for insurance companies to harvest the benefits. These improved big data implementation tools provide integrated Hadoop and cluster management solutions.
Fully Configured, Full Stack Clusters
Rather than cobble a solution together from a hodge-podge of open source and commercial components, data center managers are turning to fully configured Hadoop clusters that are vendor supported. This makes it easier to deploy new analytics applications across the enterprise, and do it in far less time than using manual methods.
The insurance industry is particularly well positioned to capitalize on Big Data applications, due to the large volume of data it has access to. Insurers that can efficiently analyze information on the scope and quality of demographics, trends, competitors details, social and values-driven information can gain an advantage over competitors who have less effective analytics. Hadoop is proving to be a valuable tool in the efficient analysis of this data. It makes it easy for corporate data scientists to crunch huge volumes of information and extract insights that can enhance the marketing, sales, operations and underwriting.
Simpler installation and operation
The “engine” that drives that analysis is an Apache Hadoop cluster, which can be complex and time consuming to operate. Fortunately, clusters no longer require teams of administrators to install, configure, and maintain.
Until recently, data center managers had to rely on a variety of tools that handled the deployment, scalability, configuration changes, and other operational considerations. Often, this required them to write, test, and debug scores of new software scripts. Employing modern, automated management solutions can eliminate this time-consuming, and error-prone procedure.
Are you staying ahead of the curve?
With only 20% of today's insurance companies making use of these new applications, there is plenty of room for early adopters to leverage the technology to their advantage.
We’ve seen a number of situations where an integrated, full-stack Hadoop solution is helping insurers make the most of their large data sets. Are you using Hadoop for Big Data analytics in your business? What are the areas with the most pressing needs? How are you using Hadoop?