February 14, 2011–MedRisk, a leading workers’ compensation company has announced the creation of their own in-house data analytics program, according to “MedRisk Forms Data Analytics Division” on BusinessWire.com. They call it RIBI (Risk Information and Business Intelligence), and it will allow more usable information available to clients much faster.
The article says, “MedRisk’s RIBI system will deliver real-time data and presentation-ready graphics, so clients can quickly and easily communicate results to their stakeholders. The sophisticated, interactive system is completely secure and enables reports to be accessed 24/7 on just about any device, including mobile phones, other hand-held devices, e-readers, and computers.”
This appears to be a growing trend among larger companies, includingAccenture and Cherokee Automotive Group, and may spell bad news for existing data analytic specialty companies. If the trend continues, developers of proprietary data analytics software might want to consider getting in line for some project consultant work. On the other hand, it’s often proven better to leave it to the experts with solid track records.