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The healthcare sector in India is witnessing phenomenal growth, such that by the year 2022, it will be a market worth trillions of INR. Increase in income levels, awareness regarding personal health, the occurrence of lifestyle diseases, better insurance policies, low-cost healthcare services, and the emergence of newer technologies like telemedicine are driving this sector to new heights. Abundant quantities of healthcare data are being accumulated each day, which is difficult to analyze using traditional statistical and analytical tools, calling for the application of Big Data Analytics in the healthcare sector. Through provision of evidence-based decision-making and actions across healthcare networks, Big Data Analytics equips the sector with the ability to analyze a wide variety of data. Big Data Analytics includes both predictive and descriptive analytics. At present, about half of the healthcare organizations have adopted an analytical approach to decision-making, while a quarter of these firms are experienced in its application. This implies the lack of understanding prevalent in healthcare sector toward the value and the managerial, economic, and strategic impact of Big Data Analytics. In this context, this chapter on “Predictive Analytics in Healthcare” discusses sources, areas of application, possible future areas, advantages and limitations of the application of predictive Big Data Analytics in healthcare.

Introduction: In recent years, fresh big data ideas and concepts have emerged to address the massive increase in data volumes in several commercial areas. Meanwhile, the phenomenal development of internet use and social media has not only added to the enormous volumes of data available but has also posed new hurdles to traditional data processing methods. For example, the insurance industry is known for being data-driven, as it generates massive volumes of accumulated material, both structured and unstructured, that typical data processing techniques can’t handle.

Purpose: In this study, the authors compare the benefits of big data technologies to the needs for insurance data processing and decision-making. There is also a case study evaluation concentrating on the primary use cases of big data in the insurance business.

Methodology: This chapter examines the essential big data technologies and tools from the insurance industry’s perspective. The study also included an analytical analysis that supported several gains made by insurance companies, such as more efficient processing of large, heterogeneous data sets or better decision-making support. In addition, the study examines in depth the top seven use cases of big data in insurance and justifying their use and adding value. Finally, it also reviewed contemporary big data technologies and tools, concentrating on their key concepts and recommended applications in the insurance business through examples.

Findings: The study has demonstrated the value of implementing big data technologies and tools, which enable the development of powerful new business models, allowing insurance to advance from ‘understand and protect’ to ‘predict and prevent’.

Introduction: The Internet has tremendously transformed the computer and networking world. Information reaches our fingertips and adds data to our repository within a second. Big data was initially defined as three Vs, where data come with greater variety, increasing volumes and extra velocity. Big data is a collection of structured, unstructured and semi-structured data gathered from different sources and applications. It has become the most powerful buzzword in almost all the business sectors. The real success of any industry can be counted based on how the big data is analysed, potential knowledge is discovered and productive business decisions are made. New technologies such as artificial intelligence and machine learning have added more efficiency to storing and analysing data. This big data analytics (BDA) becomes more valuable to those companies, focusing on getting insight into customer behaviour, trends and patterns. This popularity of big data has inspired insurance companies to utilise big data at their core systems and advance the financial operations, improve customer service, construct a personalised environment and take all possible measures to increase revenue and profits.

Purpose: This study aims to recognise what big data stands for in the insurance sector and how the application of BDA has opened the door for new and innovative changes in the insurance industry.

Methodology: This study describes the field of BDA in the insurance sector, discusses the benefits, outlines tools, architectural framework, the method, describes applications in general and specific and briefly discusses the opportunities and challenges.

Findings: The study concludes that BDA in insurance is evolving into a promising field for providing insight from very large data sets and improving outcomes while reducing costs. Its potential is great; however, there remain challenges to overcome.

Introduction: With the proliferation and amalgamation of technology and the emergence of artificial intelligence and the internet of things, society is now facing a rapid explosion in big data. However, this explosion needs to be handled with care. Ethically managing big data is of great importance. If left unmanageable, it can create a bubble of data waste and not help society achieve human well-being, sustainable economic growth, and development.

Purpose: This chapter aims to understand different perspectives of big data. One philosophy of big data is defined by its volume and versatility, with an annual increase of 40% per annum. The other view represents its capability in dealing with multiple global issues fuelling innovation. This chapter will also offer insight into various ways to deal with societal problems, provide solutions to achieve economic growth, and aid vulnerable sections via sustainable development goals (SDGs).

Methodology: This chapter attempts to lay out a review of literature related to big data. It examines the implication that the big data pool potentially influences ideas and policies to achieve SDGs. Also, different techniques associated with collecting big data and an assortment of significant data sources are analysed in the context of achieving sustainable economic development and growth.

Findings: This chapter presents a list of challenges linked with big data analytics in governance and achievement of SDG. Different ways to deal with the challenges in using big data will also be addressed.

Background: Insurance was discovered many centuries before Christ (BC). In the second and third millennia BC, Chinese and Babylonian traders traded risks. Insurance is now the backbone of the economy, but penetration is low in developing countries. Big data, internet of things (IoT), and InsurTech have recently ushered in the fourth industrial revolution in insurance.

Objective: This study examines the Indian challenges and solutions of using Big Data Analytics (BDA).

methodology: A SLR was used to extract themes/variables related to challenges and solutions in adopting BDA in the Indian insurance sector. Google Scholar was searched for relevant literature using keywords. Inclusion and exclusion criteria were used to filter the studies.

Findings: This study identified several barriers to BDA adoption in the Indian insurance industry. Policymakers could use the suggestions to improve insurance service delivery.

Practical implication: Insurers can understand the challenges, and accordingly, they can adopt the proposed solution in this study to enhance the insurance penetration in India.

In today’s marketplace, accountants must understand and master Big Data and data analytics, and many educators have devised approaches to help students acquire these critical skills. At our university, we have worked closely with our accounting advisory council to develop an adaptable classroom case where students not only gain a broad understanding of what data analytics means to the profession but also what specific tools are available to analyze an accounting-centered problem – cash collections. Using patterns and behaviors discovered in their data analyses, students develop collection procedures and controls for a case firm. Such a project begins to fulfill the profession’s initiative that accountants must exploit Big Data and data analytics for organizational growth and opportunity.

Significant advances in digital technologies impact both organisations and knowledge workers alike. Organisations are now able to effectively analyse significant amounts of data, while accomplishing actionable insight and data-driven decision-making through knowledge workers that understand and manage greater complexity. For decision-makers to be in a position where sufficient information and data-driven insights enable them to make informed decisions, they need to better understand fundamental constructs that lead to the understanding of deep knowledge and wisdom. In an attempt to guide organisations in such a process of understanding, this research study focuses on the design of an organisational transformation framework for data-driven decision-making (OTxDD) based on the collaboration of human and machine for knowledge work. The OTxDD framework was designed through a design science research approach and consists of 4 major enablers (data analytics, data management, data platform, data-driven organisation ethos) and 12 sub-enablers. The OTxDD framework was evaluated in a real-world scenario, where after, based on the evaluation feedback, the OTxDD framework was improved and an organisational measurement tool developed. By considering such an OTxDD framework and measurement tool, organisations will be able to create a clear transformation path to data-driven decision-making, while applying the insight from both knowledge workers and intelligent machines.

Introduction: Big data is that disruptive force that affects businesses, industries, and the economy. In 2021, insurance analytics will include more than simply analysing statistics. According to current trends, new insurance big data analytics (BDA) methods will enable firms to do more with their data. The insurance business has traditionally been conservative, but adopting new technology is no longer only a current trend; it must be competitive. Big data technologies aid in processing a huge amount of data, improve workflow efficiency, and lower operating costs.

Purpose: Some of the most recent developments in big data for insurance and how insurers may use the information to stay ahead of their competitors are discussed in this chapter. This chapter’s prime purpose is to analyse how artificial intelligence (AI), blockchain, and mobile technology change the outlook and working of the insurance sector.

Methodology: To achieve our research purpose, we analyse case studies and literature that emphasise how BDA revolutionises the insurance market. For this purpose, various articles and studies on BDA in the insurance market will be selected and studied.

Findings: From the analysis, we find that the use of big data in the insurance business is growing. The development of BDA has proven to be a game-changing technology in insurance, with a slew of benefits. The insurance sector is now grappling with the risks and opportunities that modern technology presents. Big data offers opportunities that every company must avail of. We can safely argue that big data has transformed the insurance sector for the better. The BDA’s consequences have enabled insurers to target clients more accurately. This chapter highlights that new tools and technologies of big data in the insurance market are increasing. AI is emerging as a powerful technology that can alter the entire insurance value stream. The transmission of any type of digital proof for underwriting, including the use of digital health data, might be a blockchain use case (electronic health record (EHR)). As digital forensics becomes easier to include in underwriting, it must expect price and product design changes in the future. In the future, the internet of things (IoT) and AI will combine to automate insurance processes, causing our sector to transform dramatically. We highlight that these technologies transformed insurance practices and revolutionalised the insurance market.

The rapid increase in analytics is playing an essential role in enlarging various practices related to the health sector. Big Data Analytics (BDA) provides multiple tools to store, maintain, and analyze large sets of data provided by different systems of health. It is essential to manage and analyze these data to get meaningful information. Pharmaceutical companies are accumulating their data in the medical databases, whereas the payers are digitalizing the records of patients. Biomedical research generates a significant amount of data. There has been a continuous improvement in the health sector for past decades. They have become more advanced by recording the patient’s data on the Internet of Things devices, Electronic Health Records efficiently. BD is undoubtedly going to enhance the productivity and performance of organizations in various fields. Still, there are several challenges associated with BD, such as storing, capturing, and analyzing data, and their subsequent application to a practical health sector.