BLM is delighted to be hosting a session on data, analytics and artificial intelligence and how these tools can be used by MGAs. With the whole world talking about data and artificial intelligence, it can be hard to keep track of what is really possible. This session will cut through some of the buzzwords and give a clear overview of what analytics really is.
Specifically, the session will address:
Analytics vs reporting
• What is analytics and how can we use data to make forward looking predictions about what is likely to happen?
• How do analytics differ from reporting?
• We will discuss the place for both analytics and reporting – reporting to monitor and manage your business, and analytics to get ahead of what might happen, delivering better outcomes more quickly and with greater convenience.
Analytics for large volumes of data
• What is artificial intelligence and when is it useful?
• Building predictive models for volume data.
• Understanding the power and pitfalls of artificial intelligence.
Analytics for small volumes of data
• Just because you don’t have historic data doesn’t mean you can’t use analytics to make better decisions.
• Understanding what you can do to help make better predictions when only a relatively small amount of data is available.
• Leaving the door open to analytics