Some companies don’t have the staff or the money to spend on consultants to leverage the data they have. Roosevelt Mosley, a Principal and Consulting Actuary at Pinnacle Actuarial Resources, says companies need to be doing something with their data or they will be left behind.

Mr. Mosley points out two challenges: having enough of the right data to do modeling and analytics, and making sure to stay “on strategy.” Predictive Analytics should help companies understand their business and their markets better, and should be a competitive advantage. It can improve growth and profitability, and reduce expenses.

According to Mr. Mosley, companies should first look strategically at their business, the challenges, the areas of need. Companies can generally find opportunities to use data and analytics to address those needs.

For more information, visit the Pinnacle website.

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