Services
The client is a US-based insurance company and dealt with large volumes of data on a regular basis. It needed a solution that would provide quick, accurate insights and drive better data governance.
The client had issues in having quick access to a wide array of data in the organization. Due to this, effectively identifying market opportunities and managing risk had also become a challenge. The business needed greater transparency into the quality of the data consumed as it helped the client determine which data is ‘fit for use.’ The client was also looking at better data governance to understand the lineage and meaning of data as it would result in increased credibility and reliability. Besides, there was a necessity to enhance the ability of the business to ingest outside data to improve analytical capabilities quickly. The aptitude to create reports faster from credible, authoritative data stores and self-service analytics was also the need of the hour.
Our data lake solutions team designed a clear-cut data transformation and analytics journey as follows:
• Hosted all the application data in a data lake
• Achieved regulatory compliance and exceptions (anomaly) reporting
• Ingested data from transactional DBs and CSV files - historic, monthly, daily and CDC loads
• Introduced Spark-based solutions to process in-memory aggregations and calculations for better performance
• Centralized metadata repository for enterprise-wide access
• Implemented reporting and error handling framework
Through our solutions, the client was able to gain quick access to all the data. The ability to identify relevant market opportunities and manage risks improved drastically. It also gained benefits such as:
Increased revenues
• Ability to create new products based on insights from data
• Access to upsell/cross-sell opportunities
Improved operating margins
• Removal of software licensing fee completely
• Decrease in service and support costs by more than eight percent
Higher customer satisfaction
• Internal users such as IT teams and administrators find the solution extremely useful in answering auditors’ questions
Greater effectiveness
• Aggregation of 60 million customers into ‘Single Source of Truth’
• Ability to derive 15 levels of attributes
• Efficiency- results can be presented as graphs in seconds instead of several minutes it took earlier
Reduced risk
• Decrease in (risk) audit errors
• Reduction in data quality problems