Tag: Data Analytics

Why is Data Analytics in Healthcare so Important?
The healthcare system is constantly faced with the challenges of effectively using large amounts of data. Medical companies are facing security issues and the risk of data breach. Therefore, one way out is to set up the medical data analysis software.

Medical data analysis — what is it?

Information about each patient and the population of the entire country helps not only to extend the life of a person and improve its quality, but also to improve the results of treatment through improved procedures, reducing the volume of medical waste.

Medical analytics has the capacity for reducing the cost of treatment, predicting outbreaks of epidemics, early screening of certain diseases, improving the quality of life in general, and introducing modern methods of treatment into practice. Medical staff are collecting huge amounts of data today, and they need the tools to use these numbers.

How important is the analysis of medical data?

Methods and application of machine learning make it possible to analyze huge amounts of information about the immune status of a particular person.

Using the data you can:
- plan medical care for people and predict the course of diseases;
- identify and implement the most effective measures decreasing the number of hospital readmissions;
- reduce the risk of blood poisoning and kidney failure, intervene at an early stage avoiding negative consequences;
- optimize outcome management and costs of medicines;
- develop tools to improve the quality of patient care.
Personalized medicine is focused on treatment decisions based on all information about the patient. To do this, more and more data will need to be processed in the future. For example, each person’s “genetic blueprint”, DNA, will need to be checked for genetic changes.

Benefits of data analytics in medicine

Technological development makes it possible to process small and large amounts of data, to study rare diseases. This is the exclusivity and originality of data analysis.

The development of the necessary technologies helps to implement the results of analyses in the work of a particular doctor and patient. The doctor receives a computer program where the data of his patients are collected. He can see on the monitor the values of medical indicators of patients from his past practice, which are closest to indicators of his new patient being studied at the moment. It allows identifying similar cases and optimizing the treatment regimen.

Analyzing information about how a patient adheres to the doctor’s instructions after discharge from the hospital will help the medical institution to predict the hospital readmission within several months and take appropriate measures.

The study of the patient’s condition data can improve his treatment

Data science plays a key role in monitoring patient health and informing physicians of options to prevent potential problems. Specialists use powerful predictive tools for early detection of chronic and systemic diseases.

Data processing algorithms also help to model exactly how medicines will act on the human body. It allows companies to reduce laboratory experiments, costs, and develop innovative medicines for the treatment of serious diseases.

It is important to take into account the specific challenges in the healthcare system as it involves the collection and analysis of sensitive patient data. It is also very important to understand that the value of digital infrastructures is in the intelligent, controlled use of data for the benefit of the individual and society in general.
May 6, 2022
Big Data Analytics Market to Top $100 Billion by 2027

Big data analytics is expected to grow to more than $100 billion by 2027 as companies become more reliant on data.

Big data has become big business, with companies of all sizes relying on the data they collect to tailor their services and gain a competitive advantage. As large as the industry has become, it’s poised to become much larger.

According to the latest data from Statista, big data analytics will top $100 billion by 2027, coming in at an estimated $103 billion.

The global big data market is forecasted to grow to 103 billion U.S. dollars by 2027, more than double its expected market size in 2018. With a share of 45 percent, the software segment would become the large big data market segment by 2027.

January 2, 2022
How Data Analytics Empowers Businesses

Many know that data is the most precious resource of the modern world. What many don’t know is how to refine data into its most valuable form. Is your company using all the data your analytics tools tell you about? Most likely it is not; under a quarter of executives have created a data-driven organization successfully. These companies excel in their fields.

If letting data drive the company is a surefire path to success, why don’t more businesses do it? The truth is that they may be facing a variety of challenges. The first is an unclear vision: 70% of executives don’t have a clearly defined strategy in the data realm. Some executives refuse to let data drive their decisions at all. Without clear and effective support from the top, workers struggle to carry out a successful data mission. Only 21% of workers believe they have strong data literacy skills, and a majority of companies struggle to hire and retain data analytics professionals. Deficiency in leadership and resources come together to set companies down the wrong path. As a result, over 70% of all data within an enterprise may never be analyzed. What is the use of collecting data that never sees the light of day?

Data Analytics Can Change the Game

As alluded to before, data analytics has the power to determine a company’s fate. Data driven organizations are 178% more likely to outperform competitors in terms of revenue and profitability. With a solid understanding of purpose, support from partners, and the right tools and processes in place, companies can see their world more clearly. They can identify potential risks and opportunities for expansion in the same venture. They can develop product innovations and marketing strategies guided by the same principle. Even a company’s external affairs (relationships with suppliers and customers) improves when data lights the way.

Meanwhile, a company lacking proper data quality or analysis suffers. These businesses see with clouded eyes, leading to misguided business strategies and missed opportunities. They see less productivity or growth as a result of their poor decision making. Altogether, poor data quality leads to an average of $15 million in annual losses.

If you’re concerned about your business’s current standing on the data front, here are a few diagnostic questions to ask. Do you have an objective metric by which to measure progress or success? Does the data your company receives come with any visualization? Does waiting on data ever slow down important business processes? If you find the answers to these questions unsatisfactory, your business probably needs help with data analytics.

Where can you find help? Try discovering a partner on Google Analytics 360. Formerly known as Google Analytics Premium, this add-on for data quality management is partner first. An expert team comes with the license. Confirming a partner’s technical expertise for your organization’s field requires you to examine their samples, references, industry experience, and certifications. After that, make sure their services and practices align with what your company needs. Together, you can refine your company’s data.

Source: InfoTrust

August 27, 2021
Snowflake CEO: Once You Get To The Cloud The Lid Is Off

“Once you get to the cloud all of a sudden the lid is off,” says Snowflake CEO Frank Slootman. “People can just pursue their backlogs and whatever they can imagine. We’re now in a situation where technology is ahead of what people are capable of and imagining what they could actually do with it. That’s really a big part of what you see in Snowflake’s growth profile, a completely variable paradigm.”

Frank Slootman, CEO of Snowflake, says that on-premise data centers can only accommodate a tiny fraction of what their real demand for data analytics really is:

Once You Get To The Cloud The Lid Is Off

The important thing to understand is that there’s a couple of long-term secular trends that are coinciding and driving the development of the market overall. One is, as everybody knows, the movement towards cloud. It’s really a modernization play. We’re moving from on-premise data centers and we’re taking workloads to the cloud because we get to take advantage of better economics and utility models. Then we no longer have to manage capacity, we pay by the drink and all that sort of thing.

The other aspect that’s really important for our business is that we’ve had an extraordinary amount of pent up demand. The on-premise data centers could only accommodate a very tiny fraction of what their real demand for data analytics really is. Once you get to the cloud all of a sudden the lid is off. People can just pursue their backlogs and whatever they can imagine. We’re now in a situation where technology is ahead of what people are capable of and imagining what they could actually do with it. That’s really a big part of what you see in Snowflake’s growth profile, a completely variable paradigm.

Notion Of Headquarters Is Evaporating

We don’t have a yearning to go back to where we were. I can see why people would have that because of lockdowns and things of that sort. From a business standpoint, there’s a lot of positives to the shock to the system that we received. It’s almost like a wake-up call that is just opening our eyes to the opportunity. This whole notion that the office is your workday home we just realized that it’s nonsense. In other words, offices need to be there for specific purposes, for events, for training, for meetings specifically, but not a place to hang out nine to five. That’s definitely changing. It’s going to really reduce the real estate footprint that companies have.

The other trend and you’ve seen it with companies leaving California, the likes of Oracle and HP and Tesla, and so on is that the whole notion of headquarters is pretty much evaporating in front of our eyes. We’re no longer operating with a physical center of the universe. We’re completely virtual. We’re connecting as needed. We’ve been operating for the better part of a whole year without a headquarters and it’s just fine. All of a sudden everybody’s staring at each other and saying like what is the headquarters anyway. You’ve seen companies like Pinterest and you’re writing up massive leeches in San Francisco and saying we’re going to be headquarter-less. It’s just a concept whose time has gone away… and that’s very profound.

We Are Buying Talent And Technology, No M&A

Usually, big M&A is a function of people running out of market and running out of a lot of opportunity. They’re trying to invade adjacent territories to give themselves new runway. That is obviously not the case for Snowflake. We’re in a tremendous marketplace and we are buying talent and technology. We sometimes refer to it as stem cells that we can use that we don’t have ourselves that we can build very specific technologies around that are very much built snowflake way. We can really enable our platform mission or footer. That’s really been our mode. If you looked at our history we don’t have a history of doing big acquisitions.

Snowflake CEO Frank Slootman: Once You Get To The Cloud The Lid Is Off

January 27, 2021
IBM Completes Acquisition of Vivisimo

In late April, we reported on the intention of IBM to acquire Vivisimo, a software designer focused on data analytics and data management software. Although the financial terms still have not been revealed, IBM announced earlier this morning, the acquisition is complete. The partnership of IBM and Vivisimo furthers IBM’s big data initiatives to help clients analyze a larger volume, variety, and velocity of big data for gaining a strategic advantage.

Arvind Krishna, general manager of Information Management at IBM Software Group comments on the acquisition of Vivisimo:

“Game-changing insights are locked inside big data and clients want an easier way to unlock their full potential,”

“This acquisition of Vivisimo will help clients uncover new data and combine it with existing information assets for analysis that leads to smarter business decisions. No other vendor provides this depth and breadth of information management and analytics for big data.”

John Kealey, Chief Executive Officer at Vivisimo comments on the powerful new relationship with IBM:

“Businesses need a faster and more accurate way to discover and navigate big data for analysis”

“As part of IBM, we can bring clients the quickest and most accurate access to information necessary to drive growth initiatives that increase customer satisfaction, streamline processes, and boost sales.”

Vivisimo bring with it over 140 customers in government, life sciences, manufacturing, electronics, consumer goods and financial services. They have worked with Noteworthy organizations like the US Air Force, the US Navy, the US Social Security Administration, LexisNexis, and Proctor&Gamble. IBM will continue to sell and market Vivisimo products separately, but also offer them alongside IBM’s current enterprise solutions.

May 29, 2012
IBM Acquires Vivisimo and Advances Data Analytics

IBM has hammered out a definitive agreement to acquire Vivisimo, a software provider to big business and enterprise analytics. The acquisition brings IBM enterprise customers a data management solution that facilitates understanding from a broad spectrum of data and that can be powerful in the decision making process. The integration power of Vivisimo software data solutions brings something new to IBM.

Arvind Krishna, general manager of Information Management at IBM Software Group comments on the acquisition of Vivisimo:

“Navigating big data to uncover the right information is a key challenge for all industries,”

“The winners in the era of big data will be those who unlock their information assets to drive innovation, make real-time decisions, and gain actionable insights to be more competitive.”

Vivisimo, a privately held company based in Pittsburgh, Pennsylvania, bring almost a decade of data management and visualization experience to IBM with the deal. IBM has been expanding their data management systems for enterprise clients lately and operates on open source Apache Hadoop. Currently they are expanding that to run on other distributions of Hadoop, beginning with Cloudera .Cloudera is a top contributor to the Hadoop development community and provides of Hadoop-based systems to clients across a broad variety of industries including financial services, government, telecommunications, media, retail, energy and healthcare.

John Kealey, Chief Executive Officer at Vivisimo comments on the powerful new relationship with IBM:

“Businesses need a faster and more accurate way to discover and navigate big data for analysis”

“As part of IBM, we can bring clients the quickest and most accurate access to information necessary to drive growth initiatives that increase customer satisfaction, streamline processes, and boost sales.”

Vivisimo bring with it over 140 customers in government, life sciences, manufacturing, electronics, consumer goods and financial services. They have worked with Noteworthy organizations like the US Air Force, the US Navy, the US Social Security Administration, LexisNexis, and Proctor&Gamble. They currently employ about 120 people who will become part of IBM’s Software Division.

April 25, 2012
BigQuery: Google’s Data Analysis Platform

Let’s say you’re with a company that analyzes thousands of terabytes as part of its business. You can either build a giant data farm to sift all of the data, or you can, well, all you can really do is build a server farm. Google hopes to help those kind of companies with their data analysis by offering up their servers as an alternative.

BigQuery, according to the Google Developers page, is a “Web service that lets you do interactive analysis of massive datasets – up to bilions of rows.” That’s pretty impressive and must take a lot of server space. That’s exactly the point though as Google is offering to let businesses and developers offload their data onto Google’s servers for analysis.

ComputerWorld is reporting that Google product manager Ju-Kay Kwek spoke at the GigaOm Structure Data conference this week about the company’s plans for this new service. The boldest claim they can offer in regards to BigQuery is that they let businesses offload all the data onto the cloud. This prevents them from having to build data farms and it lets Google fine tune their data collection algorithms.

Some of the trial users at the moment are using the service to collect data on how ads are doing or making fiscal projections. All this and more is done over the cloud at a price that is “quite reasonable” according to one company using the service.

Interested companies can sign up for the BigQuery preview right now. This will put you on a waitlist and you will be notified when the service is ready.

Here’s a talk from Google I/O 2010 that touched upon BigQuery:

March 23, 2012
Identified.com Grows to Two Million in Six Months

Startup Identified.com is meeting with remarkable success in its mere six months of existence. The Facebook-based data analytics company has doubled in size nearly every month since its September 2011 launch.

The company owes its success primarily to users from the younger generations. According to Appdata.com, current Identified users average just 23.5 years-old, with 90 percent under 35 and nearly 60 percent under 25 years-old. Users under 35 years-old make up only 40 percent of competitor site LinkedIn, which appeals more to older demographics.

“The Facebook generation does not exist on LinkedIn, which is dominated by more experienced professionals, or on outdated job boards, which are not in tune with the social generation,” said co-founder and co-CEO Brendan Wallace. “Identified’s young users love that they can create and control their professional profile online separate from their Facebook profile. This is clearly resonating with them. At this rate of growth we expect to hit 25 million active users by June, predominantly under age 35.”

A two-way street serving both job seekers and HR departments, Identified’s driving concept is the Identified Score, a metric derived from the work history, education, and demographic data of 247 million Facebook users, as well as the hiring behaviors of thousands of companies. In short, when you create an Identified profile and link it to your Facebook account, the company’s algorithms digest your life’s details and let you know where you fall–from 0 to 100–on the hiring desirability scale. Recruiters then use this score to identify likely candidates, and to rank applicants based on their qualifications. If you don’t like your score, you can add further information to your account and see if that makes a difference. Participating companies are also assigned an Identified Score.

Identified looks to have identified a market niche pretty well in choosing to go after Millenials. Members of this generation are already at home in their existing social profiles, and are pretty shrewd about emerging social platforms. To gain their patronage, a new platform has to be intuitive, useful, and–generally–easily linked to their other accounts. Identified has made it easy for Millenials to integrate their data into the new platform.

The company is also aggressively marketing their services at events that attract talented young professionals, like this year’s Game Developer’s Conference.

What about industry leader LinkedIn? I wouldn’t delete my profile just yet. Identified may be making waves early in its young life, but even its projected growth to 25 million users will be a drop in the bucket compared to the older, more experienced platform’s 150 million. LinkedIn’s profits may have slumped in 2011, but the company will likely dominate user share for quite a while yet.

March 9, 2012