Verisk at a glance
- HQ: Jersey City, NJ
- Industry: Data & Analytics for risk management
- Ticker symbol: Nasdaq:VRSK
- Challenge: Getting a holistic view of the company’s data and metadata for data governance and data monetization
- Solution: data.world’s data catalog is at the core of Project Gateway, which connects the company’s ecosystem of data tools and delivers data governance, access, and collaboration.
- Benefit: Because data is immediately available and easily accessible, the data.world data catalog enables Verisk to launch newer products faster and improves collaboration between business units.
Partha Srinivasa is the chief data officer with a range of responsibilities including data governance, data optimization, monetization, and management. His search for a data catalog was driven by three key requirements:
- Data discovery – Knowing what data we have, where it exists, who has access, and how it is being used. Once you have this information, you can better govern your data and reduce risk.
- Data culture – By giving protected and governed data access to every single employee – not just IT – in the company, Verisk is driving the culture of data.
- Data collaboration – Verisk has 1,000+ data scientists that not only need access to available information, but also to be able to collaborate across teams more effectively.
“One of the biggest values from a user perspective was getting all of this information in a common place, which means a significant improvement in productivity of our data scientists. Our data scientists are always calling for new types of data that they can use in their models. This process used to take months to get that information. Now, they can go online and get this in minutes.”
data.world is also delivering on governance, inclusivity, and monetization.
“Now, because this data is immediately available, and easily accessible, it actually enables us to launch newer products. And last but not the least is basically we have seen a significant amount of collaboration between the business units.”
Partha sees data.world as a critical component of their data fabric, becoming a default homepage for data at Verisk analytics.
“Pretty much everyone has google.com as their homepage. I don’t think the browser told you to keep a Google account. You kept it that way, because you felt going to Google is a great way to start and go somewhere else. And our success will be the day when people see data.world as that place to start from and go to all the different places to launch.”
data.world is more of a strategic partner to Verisk than a SaaS product, which proved critical to the implementation and rollout.
“Their CEO, and the leadership team, are one phone call away. That’s the type of relationship that we built. They were with us throughout the implementation process. And still now, in making sure this is successfully implemented. Overall, I will tell you that I’ve been very pleased with what data.world can provide from a service perspective.”