Running Head: Case study

Nationwide Insurance Used Bl to Enhance Customer Service

[Name of the Student]

[Name of the Institution]

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Table of Contents

Executive Summary:........................................................................................................................1

Introduction:....................................................................................................................................2

Problems:.........................................................................................................................................3

Data Analysis:..................................................................................................................................4

An action plan or performed solutions:...........................................................................................6

Suggested Solutions:......................................................................................................................10

Conclusions:..................................................................................................................................11

Exhibits:.........................................................................................................................................12

References:....................................................................................................................................15
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Executive Summary:

This research seeks to describe the issues that Nationwide Insurance encounters as

Business intelligence utilizes the agency to enhance consumer services. The study analyses case

statistics and identify what obstacles have been resolved for the effectiveness of national

insurance agencies. Identifies how the company developed and identified requirements for

judgment. This article analyzes and discusses the issues and suggests approaches to the issues.

This also requires the identification and creation of the chosen solution and execution strategy

and determines the evidence and discusses the challenges that have been solved by national

insurers. Determining how the company created and chose parameters for judgment and assesses

the issues and suggests solutions to the problems.

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Introduction:

Nationwide Insurance has become one of the greatest diversified insurance and banking

management corporations in the world. With hundreds of established deployments through

thousands of business lines, operating divisions, branches, and regions.  Through balancing its

expense and its capacity to increase its profits, Nationwide aims to gain greater productivity

across all activities. They recognize the use in strategic and tactical decision-making of their

strategic intelligence resources coupled with analytics in dynamic and unforeseen situations to

resolve competition. Nationwide uses approaches from Business Intelligence to better customer

services(McCabe et al., 2020).

The term Business Intelligence (BI) encompasses tools for collecting, combining,

reviewing and reporting knowledge. Business Intelligence is meant to facilitate effective

strategic decision-making. The data-based Decision Support Systems (DSS) represent Business

Intelligence Units. Often market intelligence is being associated with management knowledge

programs, analysis and reviews software and books interchangeably. Business intelligence

services offer past, up-to-date and statistical perspectives of company practices, most commonly

with data collected in a data center or data mart and often with operating data. Reporting

program features, immersive "slice-and-dice" analyses, simulation and computational data

mining help. For reasons of market performance monitoring, apps are addressing revenue,

development, financial and several other sources of business data. Information regarding certain

businesses in the same field, known as optimization. Customer care plays a significant role in the

capacity of the company to produce profits and revenues in the sense of the overall business

process development initiative. In this respect, customer support will be integrated as part of an
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overall structural development strategy (Customer service, 2020). A successful customer service

experience will shift a consumer's whole attitude about the product.

Problems:

, Nationwide encountered typical challenges relatable to many other big corporations like

unreliable results, weak visibility, and lackluster data collection and reporting performance.

Nationwide officials from the service of the CFOs and administrative analysts dealt with

inconsistent data across many transactional processes to prepare, schedule, forecast, handle the

threats and compromise their capacity to make fact-based decisions. The dynamic management

model of Nationwide has contributed to a fractured financial reporting system that comprises
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over 14 general ledgers, 20 networks of transactions, 17 entity databases, 12 separate resources

for repo1ting and hundreds of thousands of tablets. There was no shared overarching vision of

the company contributing to inefficient and unreliable labor-intensive coverage. Around 75% of

the attempts were made to gather, clean and organize and verify the results, and very little was

expended evaluating the data substantively. This took Nationwide weeks to collect and supply

investigators with the appropriate documentation to address the demands of properties and

affected groups.  To achieve its revenue goals, Nationally noticed it needed greater access to

revenue and policy details.

Data Analysis:

Nationwide budget is $23 billion and its regulatory reserves surpass $160 billion. It

delivers a wide variety of policies through its family of more than 100 automobiles, bicycles,

cruise, health, home and farm insurance firms. It provides financial goods and facilities,

including annuals, mortgages, mutual accounts, insurance and maintenance of assets. Throughout

the enterprise-wide data collection, data from more than 200 operating processes are submitted

and then circulated to specific software and analytical processes. As a result, the monthly closure

cycle was reduced from 14 days to 7 days or 50 percent, with closure intervals. Besides, National

behavioral research teams have developed prioritized models that define the consumer

experience that is essential for a consumer at any moment, combining customer communication

data, product possession and payment records. As a consequence, consumer satisfaction levels

increased by 1% point and client interest grew. A 3% average revenue increase by the usage of

CKS has also been reached nationally.

Around 75% of the attempts were made to gather, clean and organize and verify the

results, and very little was expended evaluating the data substantively. A modern organizational
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framework was introduced by the Financial Performance Management Initiative which

established a single data and technology infrastructure with a shared collection of frameworks

and standards reporting executes. It helps Nationwide to run centers, which offer prompt,

reliable, and effective accounting, monitoring and analysis resources, and worldwide planning,

resource allocation, risk evaluation and other decision-making assistance. The Nationwide

Teradata data center has expanded to over 100 terabytes, from 400 gigabytes and serves 85% of

Nationwide's over 2,500 consumers.

Figure 1the intersection BI with informatics and it’s usage in Nationwide Insurance

The data research department found previously unknown possible discrepancies between

Nationwide and Allied sides in the statistical setting in which premium prices were measured

accordingly. All these were addressed by the policyholders at Nationally because they were

shielded from major rate increases. Revenue Link effectively removed demands for manual

compliance assessments, which saved the company and technical reasoning departments
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tremendously time and resources. In 4-45 seconds instead of days or weeks the reports were

generated and the efficiency increased by 20- 30 percent in certain units.

An action plan or performed solutions:

Nationwide, by regulating their expenditure and its capacity to increase its profits, it aims

to gain greater productivity across all activities. It recognizes that it uses its strategy of

intelligence, coupled with analytics, to outpace rivals even in dynamic and volatile environments

in strategic and operational decision-making. In the past, the corporate divisions of Worldwide

operated separately and individually. This leads to a duplication of resources, vastly varying

environments for data collection and the exu·eme replication of results, resulting in increased

expense.

The regional state rate control program of the Nationwide target enabled the organization

to incorporate the automobile regulation structure of Allied Insurance into its current framework.

Customized software that didn't share shared principles or handle data, in the same manner, were

both aerial- and allied source networks. The IT department of Nationwide agreed to move all

data from source networks to a consolidated data center that was incorporated into the reporting

and this enabled Nationwide to carry out regular dimensional analyses.

Nationwide adopted a single Data Warehouse solution and chosen a market analytics

framework that would implement complex dashboards into its monitoring processes after closely

analyzing the desires of sales manager and individual employees, allowing employees and

associates to conveniently access policy details at a glance. The modern reporting framework,

known as Revenue Link, has allowed users to review information at different rates with several
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immersive and customizable features, thus removing the need for personalized asynchronous

statements.

The Nationwides Contact Managers were vigilant about bringing touch to consumers

during a potential weather event, including a storm or flood, presenting key policy-holder details

and describing the dispute processes by integrating the consumer phone data from various

networks into CKS. Those and other empirical experiences now contribute to highly specific

customer support.

1. What did nationwide need an enterprise-wide data warehouse?

With 23 billion dollars in sales and more than 160 billion dollars in regulatory reserves,

Nationwide is one of the biggest financial services firms. There have also been numerous data

issues in this huge national business, such as incompatibility, data integrity, secret data analysis,

client decision taking and market-completeness. This is a centralized data center to address

challenges globally-focused insurance initiated by recruiting corporate data center technologies.

It will have the best practices for taking management choices pragmatic and tactical. This is

often an effective step for strategic processing utilizing safe and structured data which can have

options in fast noise instead of wasting hours examining, gathering which cleaning data and

stored in many places. Information warehousing from different networks would be easier, saving

in a single spot.

2. How did integrated data drive the business values?

The Customer Knowledge Store (CSS), a consumer information portal, has been established

nationwide. The combined data greatly increases consumer service and enhances competition

and engagement with consumers. Customer expectations can be strengthened and challenges can
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be overcome by confronting comprehensive financial data such as questions, recommendations,

emerging business conditions, etc. The loyalty of customers in today's market is very critical at

all times to achieve the objectives of this integrated data enterprise. Often market intelligence is

being associated with management knowledge programs, analysis and reviews software and

books interchangeably. Business intelligence services offer past, up-to-date and statistical

perspectives of company practices, most commonly with data collected in a data center or data

mart and often with operating data. Reporting program features, immersive "slice-and-dice"

analyses, simulation and computational data mining help.

3. What forms of analytics are employed at National wide?

The data warehouse provides comprehensive research for all company processes through

different forms of market studies around the world. The consumer awareness shop in the

predictive analysis determines the forms of consumer encounters that are relevant at various

points for consumers. The prescriptive analytics also addressed a common application and

technical infrastructure with a shared set of applications that standardize the financial data flow. 

4. With integrated data available in an enterprise data warehouse, what other applications

could National wide potentially develop?

Customer interactions and financial statements are addressed in this situation. Additional

fields like product production cost can be developed by Nationwide organization to increase the

productivity of the company. It can also develop compliance with laws, training and risk control

to takes strategic and operational decisions on business growth, acquisition, the competitiveness

of goods, control of costs and increases efficiency. Nationally, the siloed business units, backed
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by stove-piped data climate, could be converted into integrated units with the application of

advanced analytics which operates with simple, unified data from all their business units.

Suggested Solutions:

The Nationwide Insurance company only used Business Intelligence for the betterment of

customer service. They could have increased their customer satisfaction even more by

Committing in infrastructure for workplace control which can be helpful in the betterment of

customer experience. The development of a professional global customer support team can lead

to customer satisfaction. You will need to create regional teams to have 24-hour coverage or

search at self-service options such as chatbots or a knowledge base to help the customers over

the hours. We have noticed a single argument connection from seasoned leaders the following

best practices to help the organization in terms of customers. The utilization of staff scheduling

tools to better control the timetables to ensure the changes are still protected with adjustable gaps

or time change for team leaders for cooperating in customer support. If Strategic consumer

relations were being introduced around consumer life activities such as pregnancy, adolescence,

and household transactions that would be supportive for customers.

Conclusions:

The best utilization of organizations of centralized knowledge will lead to improved

market performance. To have useful information, many companies are already dependent on data

collection systems to conduct data processing processes on site. This expertise is used to create

quantitative models that enable businesses to expand faster by analyzing consumer needs more

precisely.
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Growing usage of distributed data from real-time data warehousing systems is gradually

taking advantage of the derivative benefit of research applications. The latest monitoring

framework proved to be helpful for customers to review data on different levels with many

collaborative features and box-down-to-details, which remove the need to produce personalized

ad-hoc reports. Revenue Link practically removed demands for manual decision updates and

saved the client and technical rational departments immensely time and resources.

Exhibits:

Centralized knowledge
6

0
Nation wide insurance

customer services market situation production

This exhibit shows that by implication of amendation over the years has resulted in the

betterment of the organization. The Cks initiative was very successful and now the customers of

Nationwide Insurance are much more satisfied then they were before the change in policies. The

IT department proved to be very helpful for the organization (Nationwide Insurance’s Use of BI

to Enhance Customer Service, 2020).

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Enhance
Customer
Service

Customer Data monitoring

consumer
Knowledge Warehouse
awareness framework
Store solution
This exhibit shows that Nationwide used described features to excel the customer service.

They increased consumer awareness by analyzing registered data in the warehouse and they

made a proper monitoring framework for the customers. Analyzing knowledge with multiple

immersive and comprehensive capabilities at various stages, removing the need to specifically

attain the information of the market. Often market intelligence is being associated with

management knowledge programs, analysis and reviews software and books interchangeably.

Business intelligence services offer past, up-to-date and statistical perspectives of company

practices, most commonly with data collected in a data center or data mart and often with

operating data. Reporting program features, immersive "slice-and-dice" analyses, simulation and

computational data mining help.

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References:

En.wikipedia.org. 2020. Customer Service. [online] Available at:

<https://en.wikipedia.org/wiki/Customer_service> [Accessed 9 April 2020].

McCabe, E., Yin, S., Reddy, D., Chuang, C., Collins, J., Traynor, D., Scanlan, B., Connor, J. and

Berrones, A., 2020. Global Customer Support Strategies From Top Experts [2020].

[online] Inside Intercom. Available at: <https://www.intercom.com/blog/global-

customer-support/> [Accessed 9 April 2020].

PhDessay.com. 2020. Nationwide Insurance’S Use Of BI To Enhance Customer Service. [online]

Available at: <https://phdessay.com/nationwide-insurances-use-of-bi-to-enhance-

customer-service/> [Accessed 9 April 2020].