Mitchell International, the parent company of National Auto Glass Specifications (NAGS), highlighted key data trends and its impact on the industry in its 2020 Fourth Quarter Industry Trends Report.
“One thing most of these digital transformations have in common is that they all rely on the effective gathering and management of big data,” said Alex Sun, Mitchell’s CEO and president. “The property and casualty industry has always thrived on capturing, analyzing and using data.”
According to the report, the rise in internet-connected sensors bring enormous amounts of data that can be used to improve decision making. Sun highlighted three data trends he thinks the industry should look out for. They include:
- Data Democratization – As organizations become more digitally enabled, it will be increasingly important to make access to big data available to everyone in the company in a format that is easily understood. Data democratization makes data insights and knowledge safely available without requiring specialized analytical skills.
- Continuous Intelligence – As the pace of business increases, managers need to make real-time and near-real-time decisions that require to-the-minute understandings of current situations, according to the report. Continuous intelligence (CI) uses technologies such as augmented analytics, machine learning and optimization to reduce human intervention that can slow down the delivery of useful data.
- Cloud Management – As data volumes continue to balloon, it is increasingly important to use cloud-based systems to manage that data and make it available from anywhere.
“Rapid advancements in vehicle technology are putting even greater emphasis on glass as a critical component of proper, safe vehicle repair,” said Ryan Mandell, Mitchell International director of claims performance. “To ensure that front-facing cameras and other ADAS systems are restored correctly after a windshield is replaced, glass installers and repairers need access to the right tools, training and OEM procedures to perform the work, including any necessary recalibration.”
To read the full report, click here.