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Overview: Business Intelligence is not a “one-size-fits-all” category. Different approaches, including reporting, modeling and dashboarding, have been used to address the various challenges that exist across large organizations. Reporting-based technology was originally intended to answer questions that are known in advance — in a predictive fashion — with predefined views of information. But over time, a gap has emerged in addressing questions that are hard to predict and ad hoc in nature. And this is an area that reporting was never intended to address.
The key to unlocking value is delivering the right information to the myriad of business users who need it, at the time they need it, in a way that is meaningful and usable to them. And because these needs vary tremendously, the best approach is one in which users can answer their own questions in a simple and intuitive fashion.
With next-generation BI tools that allow for powerful yet easy-to-use analysis, leading global insurance firms are providing instant answers to front-line personnel in functions such as sales management, marketing, finance, underwriting and claims/policy administration, and in
large communities of captive and independent agents. By offering decision makers at all levels a simple and powerful way to “self-serve” the right information at the right time, companies have seen how improved decisions can have a significant impact on revenue, cost and overall profitability.
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