Do We Really Need Data Warehouses?
Although they are supposedly in the business of assessing and managing risk, insurance companies have historically shown an alarming tendency to throw money at expensive data management projects that never get completed, or that cannot possibly deliver the hoped-for benefits.
It is not uncommon, for example, for insurance companies to spend upwards of a half-million dollars, or much more–six to eight months of valuable time–converting all the data in their storage systems when the company makes an acquisition, confronts a regulatory change, or simply wishes to streamline a key business process.
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