Marketing and reference data informatics comprises of data extraction, data analysis and data manipulati10px;on capabilities and utilizes them to provide high level of analysis that identifies risk factors for various businesses."Data mastery," which includes business intelligence, ranked among the top three projects that delivered the highest return on investment in a CIO/CTO survey conducted by Celent Communications Inc., Boston.It is this field of business intelligence that utilizes data informatics for assessing core areas of businesses such as risk assessment, underwriting, new product development, claims, and customer service.Reference Informatics comprises of sales and production data including agent sales, persistency rates and paid-to-written ratios. It also includes administrative data that enables one to track key performance indicators any time depending on agent profile, policy status and time of contract implementation.However it is the subset of Predictive Modeling within the field of Marketing informatics that holds the greatest promise in analyzing potential customer profiles, effective marketing strategies and in determination of customer retention scores, loss ratios and product pricing. Predictive analysis can focus marketing targets and improve lead conversion rates. It provides business intelligence that can model customer behavior, predict customer needs and anticipate customer reactions.
l As a result rather than analyzing data in hindsight, companies can now target and change the strategy of a marketing campaign during or even before the campaign takes place.The dynamic nature of the field of marketing and data informatics is best seen when information from a business intelligence system is plied back into operational systems, which is referred to as "in-line analytics". This ensures better decisions in response to market changes and competitive pressures.