Nationwide Insurance’s Use of BI to Enhance Customer Service
Why did Nationwide need an enterprise wide data Warehouse? Nationwide insurance company is one of the largest financial service company, with $23 billion in revenue and more than $1 60 billion in statutory assets. So in this large business nationwide insurance company experienced a various data issues, like data in-consistence, data reputation, dissimilar data processing, his will shows on business decisions and strategy on market.
To resolving the issues Nationwide insurance started using Enterprise data warehouse technology from Attracted, it is a single data warehouse. It would provide best practices to make strategic and tactical business decisions. Data Warehouse is less expensive, stored in single place from different various systems also it will be helpful during critical analysis stage using clean and standardized data and provide solutions in short time instead of spending analysis, gathering he data, cleaning and stored in multiple places. . How did integrated data drive the business values? National wide has developed a customer knowledge store (CSS); it is a customer centric database. The integrated data improve the market and better communication with customers, significantly improved on the customer satisfaction. Sing integrated financial data can improve the customer priorities and resolve the issues in given time like clarify the queries, suggestions, current market situation and etc.
In the current market customer satisfaction is very important at any given time using this integrated data business can achieve the goals. 3. What forms of analytics are employed at National wide? In National wide various types of business analytics are used, the data warehouse supports the descriptive analysis for all the business operations. In Predictive analysis the customer Knowledge Store to identify the kinds of customer interactions that are important for customers at different points.
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In he Prescriptive analytics the financial performance management approached single data and technology architecture with a common set of systems standardizing the process Of financial data. 4. With integrated data available in an enterprise data warehouse, what other applications could National wide potentially develop? The case described customer relationships and financial reporting. Other areas of development pricing of products, regulatory compliance, hiring, risk management, and the location of facilities.
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Nationwide Insurance’s Use of BI to Enhance Customer Service. (2018, Mar 25). Retrieved from https://phdessay.com/nationwide-insurances-use-of-bi-to-enhance-customer-service/
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