Data is not so much a scarce resource anymore, but the willingness to do something with it. On Monday we had organised the first Datathon at Lloyd's.
We had tremendous fun and we learned a lot.
It is the little things, talking to each other, reference data, data in the 'right' format - hygiene factors - that could make a real difference.
Hosted in the Old Library, eight teams worked together to ‘hack’ four business challenges, helped by members of the Data Lab and colleagues from Performance Management and Market Intelligence. Sponsors of the initiative including Inga Beale, CEO of Lloyd’s, Ken Curtis of the LMA, Shirine Khoury-Haq, Lloyd’s Director of Operations and Andrew Hitchcox of Tokio Marine Kiln were also in attendance. Delegates worked in mixed teams, and had just three hours to come up with answers to the challenges. They mined existing Lloyd’s data sets, swapped tips, visualisation tools and other techniques to ‘see’ the data differently. Data specialists and executives from over 20 managing agents took part in the event, that ended with the universal food of a Hackathon – pizza – and informal networking.