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CIO Quick Takes: How to make big data count

Dan Muse | June 1, 2016
Sure ... data is big these days, but what are companies doing with all that newly-mined information? To find out, we asked three CIOs about how big data analytics pay off for them.

"HPS, on behalf of its health insurance company customers, has predictive models that score all 5 million members it administers each night for the follow business outcomes: customer loyalty; propensity to lapse in coverage; cross sell additional insurance products; likelihood of the healthcare consumer to pay for coverage (effectuate or bind coverage); and finally, models that predict possible fraudulent activities by consumers or insurance agents. These analytics efforts have helped HPS customers retain more members, reduce the cost of new members, and ultimately reduce the cost of coverage which is passed on to the end consumer. What better payoff is there?"

Source: CIO.com

 

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