BLOG

Telematics and Data Analytics Can Help You Drive Profitability | Here’s How

Aug 24, 2017

Telematics and advanced data analytics solutions combine telecommunications and emerging transportation technologies with data and information processing. Telematics, in simple terms, can be defined as a technology that enables real-time tracking and monitoring vehicle; thus, generating multitudes of data, which can be very useful with the help of data analytics. Telematics and data analytics drive innovation and expand market shares across several industries including insurance. Based on analytics and probability, the insurance industry can leverage advanced data analytics to gain accurate, in-depth data regarding consumer behavior, risk, and lifestyle patterns.


To know more about the impact of telematics and advanced analytics on your organization’s profitability, speak to our experts.


Telematics and Data Analytics Driving Growth in the Insurance Industry

By leveraging advanced data analytics solutions, companies in the insurance industry can eliminate guesswork and dependency on probability in calculating insurance premiums. These advanced data analytics solutions enable insurance companies to offer rewards to customers, lower premium amounts, and discounts on product offerings. Insurance companies can also leverage technology to track their customer’s whereabouts and monitor their road behavior, which subsequently helps them to gain important consumer behavior information. Telematics companies sit on highly valuable information and customer insights that prove to be useful for several companies, especially the insurance industry. Organizations can sell their fleet data and consumer behavior insights to insurance companies to earn extra revenue and drive profitability.

Request for more information to learn how analytics can help you gain a competitive edge.

Address Internal Issues with Advanced Analytics

Companies can leverage insights gained from advanced data analytics and telematics to improvise their internal processes, minimize costs, and drive profitability. Using advanced data analytics, organizations can visualize broad situations and find data-based insights to identify, analyze, and mitigate several risks in the business processes. Telematics coupled with data analytics can create a positive impact on the business’s bottom-line growth, improve customer satisfaction, and operational efficiency.

Ready to Harness Game-Changing Insights?

Request a free solution pilot to know how we can help you derive intelligent, actionable insights from complex, unstructured data with minimum effort to drive competitive readiness, market excellence, and success.

Recent Blogs

Different Types of Retail Stores in Today’s Marketing World

Different Types of Retail Stores in Today’s Marketing World

If you compare the retail scenario now to that of the early 80s and 90s, you will notice a considerable difference in the type of retail stores that exist. One of the main reasons for this change is the rise of the marketing era. Retailers began to realize that giving...

read more

Industries

Our advanced analytics expertise spans across industries, sectors, and functions, which enables us to deliver robust, agile solutions to all our clients. These are our core competencies, formed through years of experience.

Insights

Our free resources shed light on our extensive expertise and equip you with information to accelerate decision-making, growth, and innovation.