"Big data refers to a mass of information held digitally that is so large that it is difficult to analyse, search and process. Insurers already hold vast amounts of data, but now they can gather even more from new sources such as GPS-enabled devices, social media postings and CCTV footage. The key to unlocking this is through data analytics, the process of examining large amounts of data of a variety of types to uncover hidden patterns, unknown correlations and other useful information."
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