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What is Business Data | Online Learning

Business data refers to the information about people, places, things, business rules, and events in relation to operating a business.

Serious businesses need to consider setting up business intelligence and data warehouses.  In pursuing these capabilities, they need to adopt a holistic view coupled with wise investment and careful execution.  For a business to really grow, it should consider interrelated areas involving people, strategy, process, applications, metrics, data and architecture.

It is very important to gather business data and base an organization’s decision on the statistical report to get precise decisions on how to more the company forward for sustainability.

Knowing things about people and their buying behaviors can make a company generate very important business data.  For instance, statisticians and market researches know that certain age groups have unique buying habits.  Races and people from different demographics locations also have buying patterns of their own so gathering these information

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AI and machine learning are making insurance more predictable

Data helps the insurance company, the agency, and the customer make better predictions and choices.

Paper cut of insurance concept on green grass background. Car insurance, life insurance, home insurance to protection by umbrella.

Image: ChooChin, Getty Images/iStockphoto

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Insurance is a data-driven industry. Data qualifies risk and is used to perform pricing on policies that mitigate that risk. During the process, different parties get involved.

Because insurance carriers want to sell products that cover the risks, they perform algorithms against large datasets that are capable of uncovering risks. 

SEE: Top 100+ tips for telecommuters and managers (free PDF) (TechRepublic)

Agents want to better understand the needs of their customers and prospects. They want systems that enable them to punch in a name so they can query public and private data on a prospect—with the dual goals of understanding the risks that could be involved and understanding their customers better.

Finally, there are the insured customers: They want better products and claims processes.

“All of these

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Travelers are learning the hard way that their insurance doesn’t cover a pandemic

Government travel alerts and health concerns related to the coronavirus pandemic have caused a spate of travelers to rush to cancel trips. While airlines such as JetBlue and Delta are waiving cancellation fees or change fees, some travelers are learning the hard way that they can’t get refunds — even if they paid for travel insurance.

“This is one of those cases where people need to read the fine print,” Erik Josowitz, an insurance analyst at InsuranceQuotes.com, told NBC News. “It’s certainly worth looking at what are the acceptable reasons for making a claim against that insurance and understanding what it does and does not cover.”

Epidemics are usually not included in standard travel insurance coverage, Josowitz said. Most travel companies won’t refund travelers who cancel trips because they are worried about contracting a virus — no matter how novel, he added.

The fine print left travelers such as Nate

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