“For insurers, the goal for big data is to contextualise it – take the data, give it a context and delete the rest,” says CSC's Gary Jackson. There's something wrong here. Isn't the big hope of big data that it will suggest new contexts? I'd agree that big data is best managed via standard data definitions and relationships, so if that's Jackson's meaning of “context” then I'm happy.
To judge from his subsequent comments about the expense of storing, analyzing and managing data, Jackson and I are on the same page. Keep the information, delete the noise. You can tell information from noise by matching to a standard. By the way, ACORD is doing plenty with forward thinking forums in Australia. Insurance Firms Lag