At the beginning of 2013, the Library of Congress provided an update on its massive Twitter archive, which includes approximately 170 billion tweets to date. Like many other organizations, the Library, hopped on the big data bandwagon and encountered technology challenges when it came to organizing the content in a way that upholds data quality for meaningful interpretation.
The Library agreed to collect, preserve and organize the tweets starting April 2010, including the 21 billion messages that had already been tweeted since 2006. This was meant to serve as a new kind of archive to capture the era of social media communication. Now, the Library's system can harvest and store the information, but it needs to develop a method for organizing and cataloging it to generate comprehensive insight.
A recent study revealed that claims professionals and the overall insurance industry will likely focus on data quality issues in 2013 to eliminate wasted expenses and improve customer experience. By using analytics and other advanced tools, decision-makers can gain greater insight into operations and develop unique strategies to mitigate concerns.
Unfortunately, the survey revealed that more than 40 percent of insurance claims professionals are not using business intelligence solutions to their advantage. As a result, firms are unable to eliminate expenses or improve customer interactions.