This note on moneycontrol.com says that Life Insurance Corporation of India is planning to implement the largest insurance datawarehouse in the world by 2007. LIC is looking at a 60 terabyte DWH size in the first phase. USs largest insurance data warehouse is understood to be deployed by Nationwide which is in the region of 20 terabytes.
The article however states the largest datawarehouse in the world as of now is Walmart‘s DWH with 300 terabytes. Thats not appropriate. I have no clue from where did they get a number thats just 75% of the original volume. Per New York Times, Walmart’s datawarehousing capabilities are 460 terrabytes big. Thats a blooming number to match.
The application provided by Teradata a division of NCR, will enable LIC to study trends not only among customers but also its 1 million strong agency force. The project will be implemented by Wipro and is estimated around Rs 40 crore (Rs 400 million), to Rs 50 crore (Rs 500 million).
More than 10% of the country’s population are the customers of LIC. Just 10% percent and we have the biggest Insurance Datawarehouse in the world. The kind of mining that could be done with this datawarehouse would be countless. A real worthy datawarehouse to build.
10 responses to “LIC’s freaking Insurance Data Warehouse”
IMHO the scope for Indian IT companies is very very huge, and they are still untapped 😦
Recently, I happen to see the speech of Steve Balmer in CNBC TV. He said that we have more scope to computerize ( I dont rem’ber the exact phrase) and only 10% is computerized. So we still have more scope.
Yes, there is a Massive scope, actually. But Data inconsistancy is a Monster we will have to defeat. We cannot simply categorize things, as we need to keep extending the exceptional columns. Data Warehousing entire India Inc, would be a task, that if accomplished, there’s nothing like it. I will have my son do the programmng for it 😉
“Revenue per marketing dollar has shown double-digit growth each year for the past three years… Direct marketing campaign response rates are up dramatically, as high as 40% in some cases compared to an industry average response rate of 2 4%….. A targeted marketing program led to a 51% increase in
deposits for Registered Retirement Savings Plans” These are very positive feedback from RBC, the user of TeraData Warehousing Solution, after effectively deploying their CRM strategy around the warehousing solution !!!
Hopefully LIC reaps the benefits as well, however, volumes do scare me a bit…
If the Indian govt. sector decides to collect the info abt the customers they hv then we will be no.1 in all aspects bcos of the population we hv.A mighty volume of data is availble to mine in all fields.I am ready to code.
Great that LIC is building the DWH. I am just amazed with the size & how its going to happen. But one thing is for sure if they complete & use it in the right way then they are definetely going to service the customers in a more better way & efficiently too.. Also they can provide new schemes, policies according to the changing trends. Cool!!!!!
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