Insurance Brokerage Market to Grow at 4.27% CAGR - Big Data and BI Incorporation Driving Market Growth to 2020

A key trend to note in the insurance brokerage market is adoption of big data analytics and the incorporation of BI with data analytics providing analysis and reporting capabilities that yield more insightful and future-oriented actionable answers, which cannot be addressed by business intelligence methodologies. It performs predictive analysis, such as stochastic, simulation techniques, and What-if scenarios, which help to evaluate the trade-off between different strategies and tactics. Business intelligence is a powerful tool or set of processes that transforms raw data into significant information and insights. It compiles KPI data using the central database, and performs a descriptive analysis of what is currently happening in the organization. This drives better-informed decision-making, which ultimately helps increase performance, reduce costs, improve customer service, and boost profitability…