In past blog posts, I’ve written a lot about data: database configurations, data reporting standardization, and the importance of data quality and accessibility. A major focus of my organization is helping clients to make sense of their own data, benchmark their performance against industry peers, and unlock the value of big data. Those of you who attended our 2014 Client Conference had the opportunity to see firsthand how Marsh ClearSight (alpha) makes it easy to aggregate, share, and analyze data.
In this post, I’d like to discuss the advanced analytics capabilities integrated into Marsh ClearSight apps and why they are such a game changer.
Embedding analytics in business processes is emerging as an important trend in analytics and business intelligence (BI). As organizations struggle to make sense of dizzying quantities of structured and unstructured data, they need analytics that are intuitive and approachable for everyday users. When analytics are an integral part of an existing workflow or business process, more people will use them and be more effective in their roles. Embedded analytics makes it possible for users with little or no prior experience to deploy analytics on demand via interactive dashboards and other visualizations. Gartner calls it “making hard types of analysis easy.” Others describe it as the “democratization of analytics.”
Marsh ClearSight is the first and only risk management system to feature this level of embedded analytics, which we identified as an unmet need in our industry. We recognized that many of our clients were relying on custom reports or internal IT support to gain insights from their data. Given the volume and velocity of data companies are trying to manage, we understood that clients needed actionable insights in real time.
The embedded analytics in Marsh ClearSight are purposely built for particular business processes yet not company specific. The tools can be configured to the metrics that are most important to each organization. This balance of standardization and flexibility will fulfill the vast majority of our clients’ needs without incurring the costs and time delays of custom analytics software. Our applications are designed to solve specific requirements holistically: starting with understanding the needs and workflows of each stakeholder involved in a business process and building a solution that is intuitive for that individual.
Marsh ClearSight’s data architects and analytics resources are working closely with industry experts and our clients to continue building out our datasets and evolving our analytics offerings. Embedded analytics are at the core of this design process and drive much of the overall thought in design. In an upcoming blog, I’ll describe our innovative approach to application design. In the meantime, be sure to visit beta.marshclearsight.com for more information about Marsh ClearSight.