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MSC Management With Data Analytics

The document discusses a company called Cantos that is undergoing a digital transformation project called ApexSolutions to modernize its IT infrastructure and adopt a more data-driven approach using big data and cloud computing. The project aims to provide more competitive pricing, stable profit margins, and combat insurance fraud using data from IoT devices provided by partners. It will analyze risk models and streamline claims processing. The document evaluates suitable cloud-based big data solutions for storing and analyzing large datasets from IoT devices, assessing risks and requirements.

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143 views3 pages

MSC Management With Data Analytics

The document discusses a company called Cantos that is undergoing a digital transformation project called ApexSolutions to modernize its IT infrastructure and adopt a more data-driven approach using big data and cloud computing. The project aims to provide more competitive pricing, stable profit margins, and combat insurance fraud using data from IoT devices provided by partners. It will analyze risk models and streamline claims processing. The document evaluates suitable cloud-based big data solutions for storing and analyzing large datasets from IoT devices, assessing risks and requirements.

Uploaded by

Nisha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MSc Management with Data Analytics

Big Data and Cloud Computing


Introduction
In the ever-evolving landscape of services related to insurance, companies to enhance their
operations are increasingly leveraging big data and cloud computing. This report delves into
the scenario of Cantos, which is a well-established company of insurance that is currently
transforming digitally within its team of research and development (R&D) through the
ApexSolutions project. This project's primary aim is to accompany a more data-driven
approach, replacing the IT infrastructure that is outdated and introducing innovations that
help enable storage, collection, and big data analysis.

The objectives of the ApexSolutions project are ambitious, which seeks to provide pricing
that is competitive to over 15 million customers worldwide, ensure more stable profit
margins, and combat the probability of fraud in insurance. To achieve these goals, Cantos
envisions the Internet of Things (IoT) devices integration, provided by TeleMax and
HomeSmart which are technology partners. These devices include a 1080p dashcam from a
technology partner TeleMax and a smart doorbell from HomeSmart, that aims to gather data
of telematics and footage of video to enhance models of risk and streamline the process of
claims in insurance.

As the report explores the implementation of cloud computing and big data in this context,
there are certain assumptions made for this scenario. These assumptions include the seamless
integration of IoT devices into the existing infrastructure of Cantos’, secure and reliable
cloud-based solutions availability, and the TeleMax and HomeSmart cooperative engagement
in the sharing of data. These assumptions help in forming the foundation of analysis, which
recognizes the need for a pragmatic approach to the transformation digitally that is
envisioned by Cantos. This report assesses cloud-based big data solutions by proposing a
suitable architecture, and critical appraisal of the potential risks and issues that are associated
with the deployment of such a system in the enterprise context.
Big Data Requirements & Big Data Storage Solutions
In the rapidly evolving landscape of cloud computing and big data, to address the unique
needs of enterprises that offer a myriad of solutions of diverse capabilities. The selection of
an appropriate cloud-based solution for big data is pivotal in realizing the objectives of
storing, collecting, and deriving from IoT devices analyzed by substantial datasets for Cantos’
ApexSolutions.

Google Cloud Platform- Cloud Datastore and Cloud Dataprep

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