A big advantage that employers and brokers alike cite when they move to cloud-based solutions is the data it provides, which in a cloud is in real-time.
Data has transformed other industries by connecting data between scaling technology and measuring the scale of that technology, explains Benefitfocus’ Fowler. “Data itself is a piece of snow,” he says. “But when you start chipping away at it, you get big form and see more analytics.”
“Analytics drives insight and insight is actionable output of the data you have and are able to access in a unified way and in a consistent way by having it in the cloud,” he adds. “No matter how well we think we are doing something or how poorly we want to measure our success, our strength, and our weaknesses. The cloud helps to enable that.”