In a recent webinar we hosted with Cloudera, Markerstudy's Nick Turner walked us through his company's Big Data Insight project. The Markerstudy Group is not a hot new startup or a Silicon Valley stalwart, but a rapidly expanding, privately owned provider of auto insurance and related services in the UK. Its Big Data Insight project took the data collection, analysis, and reporting from the company's Insurer-Hosted Rating Engine (IHR) and moved it to a Cloudera Enterprise Data Hub that employs Spark for near-real-time processing and Zoomdata for fast visual analytics.
Big Data ROI with Cloudera
Now just like we are, Cloudera is very determined to deliver better business value and measurable ROI to its customers. It's done this by focusing on a couple of key solution areas like Customer360. Of course, the idea of a 360-degree view of the customer isn't new. Nevertheless, in the past, it hasn't been all that easy to pull off without investing a lot in proprietary real time systems that were very complicated and, worse, brittle. They broke easily.
But with Cloudera, Spark, and Zoomdata, Markerstudy put in a near-real-time Customer360 solution—in only five months—that had immediate and sizable impact. The solution resulted in true big data ROI and reduced customer churn by 50 percent and generated $7.5 million in savings related to fraud detection. That's definitely ROI.
Markerstudy's big data solution gave all their quoting agents a customer-360 environment where they could put the right offer, in front of the right people, at the right time while greatly diminishing the risk of fraud.
Nick's presentation provides great insight into the thinking behind Markerstudy's foray into big data ROI and its very practical and methodical approach to implementation. It's pretty much a blueprint for success. So for any company regardless of industry that's interested in Customer360, I highly recommend taking a look at this big data ROI webinar.