Author - Manjiri Ranade

Can data science help insurance to gain a competitive edge

Insurance is one of the largest industries globally, in terms of investments, returns as well as its social role in covering risks. As the insurance sector works on investment and returns and also is about risk management, needless to say it has tons of data available, and traditionally uses statistical models for risk assessment and deciding premiums and so on. This...

The importance of customer segmentation in business succession

The key criterion for any business to be successful is knowing your customers well. Knowing them well even before they become your customers.  The organizations work hard to identify their target audience. Customer segmentation is very useful in Taking the decision about where to place your advertisements, what content to use, to use the marketing budget effectively Defining the customer...

The importance of data analysis in business

The data always tell a story, it needs to be heard correctly and without bias. Many a times the decision makers want the data to corroborate the conclusion that they have already reached. Some others tend to just discount the outcomes, as “Ah this is obvious or just common sense. We don’t need Big data to know this.” Both these...

The evolution of data in the insurance industry

The insurance industry has always relied on historical data to assess potential risks. With the advent of digital technologies, the industry has a lot more touch points with the customer and processes that can be tapped into to gather a lot of data. Along with historical data, the insurers also have access to a huge amount of real-time data. Both...

Creating a robust infrastructure to utilize data streams

It is raining heavily in my city. It reminds me of the data that is produced or recorded by even a moderately sized organization. Numerous data streams are flooding the business every day. In order to harness this force, the business has to judiciously create the data lakes and dam the data without harming the business environment, using the...

Organizations: how to deliver a customer centric approach

The current business climate is changing very fast due the global exposure and technological advances. The organizations that are embracing technological advances are thriving in these times. On the other hand, customers have become savvier and are expecting a lot. How can the organizations deliver the customer-centric approach? They can do so, by anticipating what the customers want, and when they...

Bridging the gap between data science and business

In my last post, I talked about the two criteria to benefit from Data Science. The first is to identify well-defined problems that can be solved by AIML, second is to get buy-in from stakeholders. Businesses can drive immense benefit from defining the strategy based on the data insights provided by the business leaders and the data scientists work hand...

Best practices for getting the most out of AIML solutions in business

AIML can increase business productivity and effectiveness in multiple ways. I have mentioned some of them in my previous posts. The business should follow some best practices to get the maximum benefit from AIML solutions. First and foremost is selecting the right problem to solve using AIML.  There could be a temptation to look at popular use cases and expect the...

Can Artificial intelligence help you build a successful business?

Artificial intelligence is taking over businesses by storm.  Startups need to also utilize AI benefits to be successful in their chosen business. AI can benefit them in the following areas Employee Productivity Tedious repetitive tasks can be automated using AI, freeing the employees to concentrate on interesting work, thus increasing their productivity and satisfaction. Customer Relationship Management Artificial intelligence can give a good boost...

How AI adoption is accelerating for startups

Pandemic provided the catalyst required for the businesses to change the way they operated. Digitization, which many mainstream companies were just talking about on their road map has suddenly been accelerated. This calamity accelerated the adoption of AI and analytics by established businesses. According to Harvard Business Review, 52% of companies have accelerated their AI adoption.  AI adoption is helping...