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Each time you walk into a doctor’s office, the same kind of system could be triggered to determine what information should appear on your health care provider’s screen, and on yours, and how best payment should be made (or insurance claims filed). What values do we build into it? Can it be audited?
“We use erwin DM to do all of the levels of analysis that a data architect does,” said Sharon A., a senior manager, data governance at an insurance company with over 500 employees. She added, “erwin DM does conceptual, logical and physical database or datastructure capture and design, and creates a library of such things.
This includes deep inspection of hundreds of protocols in a standard three-pane packet browser that encapsulates datastructures. When in use, Xplico creates XML files that uniquely identify the flows and pcap contained in each datastructure reassembled.
OpenText™ Discover is an innovative solution that elevates investigative analytics through a multi-step workflow that ensures all data (structured and unstructured) interactions are retraceable, auditable, and secure.
These include ethics awareness programs for value chain partners, product and service life cycle assessments, employee protections such as insurance and transition programs. This data can be sliced and diced to align to the needs of multiple reporting frameworks as required.
Data lake management: Prevent a data swamp. A data lake is a storage repository that holds a vast amount of raw data in its native format, including structured, semi-structured and unstructured data. The datastructure and requirements are not defined until the data is needed.
I look at all of those and behind each one I say: “OK it’s not going to work without master data”. For example you’re not going to get IoT to work across organisations and devices without having a common datastructure. It always comes back to this foundational, structuraldata and the challenge is, it’s not very sexy.
Although interest rates have increased at an unprecedented rate over the past year due to efforts by central banks to curb inflation, insurers are locked into low-yielding investments, and it will take several years for their investment yields to improve. Core modernization (processes and technology) is a top priority for every insurer.
These organizations are less likely to have a formal approach to AI than some other industries, but they are showing progress: 57% of banks and financial markets organizations, 54% of insurers and 54% of life sciences/pharma institutions have adopted a formal approach to the technology so far.
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