Why in-house data solutions miss the mark: Eric Giroux on the importance of analytics expertise
Giroux.Ai Founder and CEO Eric Giroux sat down with FinTech Global to discuss the pitfalls of DIY data solutions and the significant and almost instantaneous benefits companies can reap from partnering with an expert analytics provider.
We live in a data-driven world; one in which remaining ahead of analytics offers a competitive advantage. Against this backdrop, companies may believe that a DIY approach to data analytics could be advantageous for them. However, as with most things in life, there is rarely an effective ‘quickfix’ that will prove beneficial in the long term. The truth is that the hidden challenges, time and costs of creating, managing and maintaining a robust data analytics platform vastly outweigh potential benefits.
“In terms of timeline, most clients who come to us have typically spent at least 18 months, if not two years, attempting to make their DIY approach work, only to find it unsatisfactory. Once they start engaging with us, they begin seeing tangible results within about three months. This isn’t the end of the project; it’s merely the start of a best-practice approach to analytics,” states Giroux. Giroux.ai recently secured a place on the prestigious InsurTech100 list, which is testament to their innovative and knowledgeable approach to analytics.
