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Posts from the ‘Big Data’ Category

13
May

Cloud-based Healthcare Analytics and Decision Support Solutions


CostTransparencyThe old playbook no longer works. Everyone acknowledges that U.S healthcare is broken.

Technology (preventative apps like Apple Health and HealthKit; EHR, claims and reimbursement analytics; Physician Practice management etc.)  will reinvent healthcare as we know it.  I expect the  healthcare transformation to start incrementally and develop slowly in sophistication.  Though the early changes will appear clumsy and underwhelming, by 2030 they will seem obvious, inevitable and well beyond the changes we might envision today.

Why change? Consider this:

  • Honeywell, a Fortune 100 technology and manufacturing company, needed to manage the ever-escalating cost of insuring its 130,000 employees and their dependents. Honeywell has reported that health care costs were growing approximately 8-10% per year.
  • Self-insured employers like Wal-Mart want to make health care cost and quality information available to their 1.2 Million employees.  Useful information that can be used by employees to select physicians based on how their rank, or how much they cost, resulting in savings for both the employee and the employer. Decision support enabler.

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12
May

Consumerism, Health Exchanges, and Payor Big Data – A Primer


EmployerRequirementsHealthcare Benefits are the 2nd costliest line item for companies in the U.S. So, companies are taking aggressive steps to reduce this spend. Consider this:

  • IBM is moving to a private health exchange…Extend Health private exchange will be handling plan options for 110,000 IBM retirees
  • Walgreens is moving employees to a Corporate Health Exchange. Of the 180,000 Walgreen employees eligible for healthcare insurance, 120,000 opted for coverage for themselves and 40,000 family members. Another 60,000 employees, many of them working part-time, were not eligible for health insurance.
  • Trader Joe’s  — decided to send some employees to the new public exchanges. Trader Joe’s has left coverage for three-quarters of its work force untouched but is giving part-time workers a contribution of $500 to buy policies. Because of the employees’ low incomes, the company says it believes many will be eligible for federal subsidies to help them afford coverage.

For the past year I have done strategy and implementation work in the employee Healthcare benefits and Private Exchange area.  I wanted to share my insights into the massive structural changes taking place in health insurance. The move to patient-centered, consumer-driven, and value-based models is real.

This posting has been updated and posted on disruptivedigital.wordpress.com

 

10
Mar

Fan Engagement and Wearables: Disney MyMagic+


MagicBandA satisfying experience is the driver of any business’s revenue growth. Disney Theme Parks is no exception. Disney is executing a guest (and fan) personalization strategy leveraging wearables (and analytics) to track, measure and improve the overall park experience. The goal is increase sales, return visits, word of mouth recommendations, loyalty and brand engagement across channels, activities, and time.

Wearables are the next big thing.  The new crop of gadgets — mostly worn on the wrist or as eyewear — will become a “fifth screen,” after TVs, PCs, smartphones, and tablets.

Wearables are already being used to monitoring vital signs, wellness and health. Devices like Fitbit, UP, Fuelband, Gear2 track activity, sleep quality, steps taken during the day. Consumers of all sorts — fitness buffs, dieters, and the elderly — have come to rely on them to capture and aggregate biometric data.

What most people don’t understand is how powerful wearables (coupled with  analytics) can be in designing new user experiences.  Businesses thrive when they engage customers by creating a longitudinal predictive view of each customer’s behavior. To understand the wearables use cases and potential we did a deep dive into a real-world application at Disney Theme Parks.

Wearable Computing at Disney: MyMagic+

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4
Mar

Big Data Performance Anxiety and Data Grids


In Memory Data Grid (IMGD) is a data structure that is being increasingly The Gridcited as a solution to the problem of scaling big data applications. Unlike in-memory applications, IMGDs distribute only the data across RAM over multiple servers.  With memory prices continuing to fall and the volume of data for an application continuing to rise, solutions based on memory are looking more attractive to manage the performance bottlenecks of applications using Big Data. Should IMGD be on your radar screen for a Big Data application?

In order to understand this and other questions on IMGDs, Carpe Datum Rx spoke to Miko Matsumura, VP of Marketing and Developer Relations at Hazelcast, who has seen recent adoption of this technology in banks, telcos and technology companies. Here is an extract from our discussion.

Why is it so important to distribute data in a data grid? Why should it be In-memory?

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24
Feb

Security Analytics – Big Data Use Case


Another day, another data breach.  Just received another “We’re sorry you got hacked”…letter.  

This is the fifth letter I have received in the past 3 months:  Forbes.com, Target, Neiman Marcus, credit card company and a previous employer.  What is going on?

Why aren’t firms investing in beefing up their predictive ability to spot the cyber-security intrusion threats? What’s taking them so long to identify?  Why is the attack signature – sophisticated, self-concealing  malware – so difficult to spot?   Do firms need to invest in NSA PRISM type threat monitoring capabilities?

The three impediments to discovering and following up on attacks are:

  • Volume, velocity and variety – Not collecting appropriate security data
  • Immaturity and not identifying relevent event context (event correlation)
  • lack of system awareness and vulnerability awareness

Obviously… where there is pain…there is opportunity for entrepreneurs see below – data from IBM).  There is a growing focus on big data use case for security analytics after all the breaches we are seeing.  General Electric announced it had completed a deal to buy Wurldtech, a Vancouver-based cyber-security firm that protects big industrial sites like refineries and power plants from cyber attacks.

securityanalytics3

 

Here are three recent examples that I was personally affected by – Forbes,  Target, Neiman Marcus.  

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23
Dec

2014 Year in PreReview for Big Data Analytics


In the movie “Minority Report,” set in 2054,Time Travel Tom Cruise plays the captain of the “PreCrime” police force, which uses “precognitive” abilities of mutants to stop crime before it happens. Silicon Valley futurists have sometimes used this reference in the context of the art of the possible with Big Data. We have another 40 years to go to see how analytics can accurately forecast future events based on human behavior. Meanwhile, imagining the future with some level of accuracy is within our reach today.

Value creation in the data economy made headlines in 2014. While Big Data continued to be the buzzword of the year in 2014, solutions that created economic impact were center stage.  Trending terms such as “predictive analytics” and “advanced analytics” approached the levels of “Big Data” on Google Trends during the year. “ROI,” which was vaguely referenced in the last two years, became the most commonly used term with Big Data in 2014. Here is a cross-section of 2014 events.

Apple announces TopsyTV

This is their next-generation TV appliance that integrates social media engagement with the TV watching experience. Earlier in 2013, Apple acquired Topsy Labs, a reseller for Twitter content for $200M. This was followed by a series of less publicized acquisitions of social media data companies. Apple is characteristically tight-lipped about its plans for monetizing this product with advertising, but speculation is rife that Apple is poised to get a piece of the $600 billion that is spent on advertising today.

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9
Aug

Goldman Sachs – Big Data is a Disruptive Theme


Innovation Matrix

The following eight secular disruptive themes are what Goldman Sachs believe have the potential to reshape their categories and command greater investor attention in the coming years.

The Eight Themes:

  • E-cigarettes – The potential to transform the tobacco industry
  • Cancer Immunotherapy – The future of cancer treatment?
  • LED Lighting – A large, early-stage and multi-decade opportunity
  • Alternative Capital – Rise of a new asset class means growing risk for reinsurers
  • Natural Gas Engines – Attractive economics drive strong, long-term penetration
  • Software Defined Networking (SDN) – Re-inventing networking for the cloud era
  • 3D Printing – Disruption materializing
  • Big Data – Solutions trying to keep up with explosive data growth and complexity  (Industrial Big Data and Personalized Big Data)

These eight themes – through product or business innovation – Goldman claims are poised to transform addressable markets or open up entirely new ones, offering growth insulated from the broader macro environment and creating value for their stakeholders.

Goldman focuses on the impact of creative destruction – a term made famous by the Austrian economist Joseph Schumpeter, which emphasized the fact that innovation constantly drives breeding of new leaders and replacement of the old.

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15
Jul

Informatics or Analytics? Understanding Digital Health Use Cases


Healthcare Provider Value Chain

Data is driving fee-for-value healthcare. Every firm is racing to figure out how to bring the power of data science to streamline healthcare encounters ~ member/consumer engagement, provider/PCP engagement or clinical/care engagement.

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Health expenditures in the United States crossed $3.2 trillion in 2015 which is more than ten times the $256 billion spent in 1980.

Almost 15% of U.S GDP is spent on healthcare…a staggering number.  As a mega-vertical, healthcare covers several major segments (the 7 Ps)

  • Payers (Health Insurance and Health Plans),
  • Providers (Hospital Systems, Labs and IDNs),
  • Pharmacy (retail distribution networks), and
  • Pharmaceutical and medical equipment manufacturers,
  • Prescribers (Physicians, clinics and pharmacy minute clinics)
  • Police (Regulators, FDA)
  • Patients (consumers)

U.S. healthcare system is a complex beast and difficult to navigate – providers need to make it easier for patients. They are using people resources like care coordinators and patient navigators to help patients navigate the system.

The focus on the payer side is in digitizing health today is to reduce the amount of waste in the health care system via implementation of new forms of health IT and Analytics… that reduces inefficiencies, redundancies and administrative costs.

According the CEO of Aetna…”the health care system wastes more than $765 billion each year – that’s 30 percent of our health care spending.”

AgingPopulationWhile spending on health care is dominating headlines, the health care industry (7Ps) is in a state of flux. Stakeholders across the health care sector are running hard to reduce costs.   The drivers impacting cost of healthcare include:

  • Aging population – Patient history and patterns of care impacting patient readmission rates
  • Rise in Chronic Disease – 75% of cost – Prevention not reactive medicine
  • Drug cost – escalating for certain therapies (Generics exchanged for biological drugs)

The healthcare ecosystem is being reshaped by two powerful counter economic forces at work:  (1) Improve quality of care  and   (2) drive the cost of care down. Basically spend less and get more.

As a result,  the entire healthcare  ecosystem is changing into a “information-driven”, “evidence-based” and “outcome-driven” model.

The target healthcare transformation goals are:

  • align economic incentives between payers and providers,
  • digital engagement…create a simpler, more transparent consumer experience, and
  • connected health….technologies that seamlessly connect our healthcare system.

In this posting we look at Digital Health Care use cases and how data and analytics are being slowly but sure being adopted in the form of informatics. All this change is being driven under the guise of Health Reform.

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14
Jul

Blessed are the Mid-Markets, for they shall Scale Big Data


Interview with SMB Guru

In a parody of Start Trek, Silicon Valley technology companies describe their business goal as “Scale, the final frontier…”.  Mid-market companies, defined as those having 100-2500 employees, may indeed provide an opportunity to emerging technology vendors to scale their business. According to Techaisle, a market research firm, these 800,000 global companies spend $300B on IT and are sought after by technology vendors big and small. In the last decade, technologies such as Cloud, SAAS and Virtualization have reached scale with a large number of mid-market companies as early adopters. Intuit, Salesforce.com, NetSuite and Amazon are just a few examples of companies who have relied upon mid-market companies as a key building block for their business.

What does this mean for Big Data? To find out, Carpe Datum Rx spoke to “SMB Guru”, Anurag Agrawal, CEO of Techaisle and the former Head of Worldwide Research Operations at the Gartner Group. Techaisle recently talked to 3,300 global businesses about their Big Data adoption plans. Here is an excerpt from our discussion.

The SMB Market is considered the Holy Grail for technology vendors because it is hard to penetrate. Does your research show that mid-market companies will adopt Big Data before large enterprises do? Are they the early adopters of this technology? Read more »

25
Jun

Power of 1% Improvement – ROI & Use Cases for Industrial Big Data


RiseOfTheIndustrialInternetJust like Business to Consumer (B2C)  e-commerce and Business to Business (B2B) e-commerce…we are seeing a similar distinction emerge in Big Data.

The “real meat and potatoes” use cases behind big data actual adoption might be around B2B machine data management and Industrial analytics enabled by wireless, battery-free sensor platforms.

While social, consumer, retail and mobile big data get a lot of PR, the big data business cases around industrial machine data analytics or “things that spin” actually make economic sense.  These projects tend to show tangible Return on Investment (ROI).

The concept of Internet-connected machines that collect telemetry data and communicate, often called the “Internet of Things or M2M” has been marketed for several years:

–       I.B.M. has its “Smarter Planet” initiative

–       Cisco has its “Internet of Everything” initiative

–       GE has its “Industrial Internet” initiative.

–       Salesforce.com has its “Internet of Customers” theme

To compete with GE….Hitachi, United Technologies, Siemens, Bosch, Schneider Electric, Phillips and other industrial giants are all getting on the band-wagon as the vision of M2M is now viable with advances in microelectronics, wireless communications, and microfabricated (MEMS) sensing enabling platforms of rapidly diminishing size.

The Bosch Group has embarked on a series of initiatives across business units that make use of data and analytics to provide so-called intelligent customer offerings. These include intelligent fleet management, intelligent vehicle-charging infrastructures, intelligent energy management, intelligent security video analysis, and many more. To identify and develop these innovative services, Bosch created a Software Innovations group that focuses heavily on big data, analytics, and the “Internet of Things.”

Similarly, the Schneider Electric focuses primarily on energy management, including energy optimization, smart-grid management, and building automation. Its Advanced Distribution Management System, for example, handles energy distribution in utility companies. ADMS monitors and controls network devices, manages service outages, and dispatches crews. It gives utilities the ability to integrate millions of data points on network performance and lets engineers use analytics to monitor the network.

Industrial Internet – making smart use of sensors, networked machines and data analytics – is the big vision, but the business driver is in no unplanned downtime for customers.

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