One of the exciting things about the future of big data is that it will likely start acting more like a living system when products like the self-driving car mature in the marketplace. Instead of needing to correlate the differences, the analytical infrastructure will allow data that is accruing to be analyzed and acted upon automatically. That type of future should be reassuring for most insurance companies that will now only have hacking to worry about when it comes to serious accidents and large payouts.
Data mining that makes sense
Most people have noticed that the amount of privacy that they have in their lives is continuously shrinking. Part of this is due to convenience, while another part is due to additional security that takes away individual freedoms in order to provide the entire neighborhood, town, or community with better protection.
Because the tech industry has already set up the type of licensing that makes users of smartphones and tablets that are in cars or connected to them subject to wide-scale data gathering, the new auto manufacturers are scrambling to put together sophisticated programs that take advantage of the data that they are allowed to gather.
Insurance industry faces a great deal of change