It used to be that data tended not to be centralized. That s no longer true. Today, people are moving away from applications that sit on a desktop and more toward remote servers, which give you access to more data across the Web. That s giving people a lot more freedom and flexibility, he says. An S-Plus user can construct new models or, using existing algorithms, decide change an existing model, he says.
Many users know what they want, but don t know how to get it.
The technology is getting much more sophisticated, but the real thing that has changed is the data delivery via the Web, which means easier access to the analytic tools. Another company, Decisioneering Inc., of Denver, offers risk managers and insurers its aptly named Crystal Ball application, a general purpose tool specifically designed for use with Microsoft Excel spreadsheet software. Crystal Ball allows user to do Monte Carlo statistical modeling via the Excel software. While Dave Fredericks, Decisioneering s director of marketing, says Crystal Ball offers no specific solution for the insurance industry, companies such as AIG, Cigna and Liberty Mutual are customers. Also, insurance defense litigation attorneys have used Crystal Ball successfully.