Data-Driven Business Innovation: Applications in Insurance, Consumer Platforms, and Artificial Intelligence
Overview
This paper examines how businesses leverage data to drive innovation and decision-making across three distinct sectors: insurance companies using fitness data, voting platforms like Wattpad, and artificial intelligence assistants competing with search engines. The author argues for the ethical use of data collection while also addressing concerns about data accuracy and authenticity in consumer-generated platforms.
What this coursework covers
- Insurance companies using Orangetheory Fitness data to improve business performance and offer incentive-based products
- Critical analysis of data accuracy and user manipulation on platforms like Wattpad and its impact on content decisions
- Competitive positioning of AI assistants like Alexa and Echo against established search engines Google and Bing
Preview
Student’s Name
Professor’s Name
Course
Date
WSJ-How Businesses Use Data
Question 1
In the data-driven business environment, corporates are increasingly becoming innovative to adapt to the current environment. I support insurance companies’ attempts to use Orangetheory Fitness data to improve their business performance. Data can give more insight about a particular client, especially for insurance companies.
These companies are only thinking about the future and promises such as lower insurance rates or subsidies for taking classes will only act as incentives so that they don’t acquire the data illegally. I support this initiative since these companies will use the data to observe trends and make wise financial decisions in the future.
Question 2
Audiences should not vote with data because a platform like Wattpad may not necessarily verify the data's accuracy as provided by users. Voting on data may be deceptive because users may input key indicators or data to score a point with rival users. As such, it may be difficult to ascertain the degree of authenticity of the data. A film like After could have made profits, however, a lower rating on rotten tomatoes means that the general public was dissatisfied. Perhaps the public was only curious to know how it made it straight from Wattpad to the theatres but was not necessarily impressed by it.
Question 3
To say that Alexa and Echo will overtake Google and Bing in the future is to jump the gun. However, there is a possibility.