Only when you can access the 90% of historic data that is inaccessible today- the unstructured data held in emails, letters, scanned documents, video, photo diagrams.
Data silos in core systems of record plus the alarming number of different BI tools. Ingest and analyse those before attempting to move on to external sources.
Document management systems are usually not a help so look at online platform tools like 360Retrieve
Of course, it's not good accessing it unless you can join this unstructured data with the structured data already analysed. Again, if you want to see a working solution go to 360Insight.
The power of data and its analysis. Data and analytics are changing the basis of competition. Leading companies use both not only to improve their core operations but to launch entirely new business models. Insurers have valuable historic data. Yet in a few years’ time, will they be able to keep pace and still add underwriting value when competing with newcomers that have access to more insightful, often real-time new data culled from the Internet of Things (IoT), social media, credit card histories, and other digital records?
https://digitalinsurance.mckinsey.com/facing-digital-reality/
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