Posts Tagged ‘Big Data’
As The Internet of Things continues to grow, huge amount of data is going to be generated. How huge is the “huge”? Really huge. I do mean that.
Physical devices across the globe are consuming and creating data to drive a continuously connected world. David Booth, CEO at BackOffice Associates believes that currently we are at the tipping point of the Internet of Things. He says, “It was not a big leap for the industry to realize that an IoT global network of continuously connected devices would mean that data would not only be created at geometric rates, but that it would become one of the most valuable commodities in the world.”
Alongside the fact that year 2016 was declared to be the year of the first Zettabyte in internet traffic, Cisco report says the number will reach 2.3 ZB by 2020. Before long we will be transferring this much data annually.
If it does not say anything to you, imagine a byte equals 1 character of text – a zettabyte would cover War And Peace by Leo Tolstoy(which is about 1,250 pages) at least 325 trillion times. Or if 1 gigabyte can store 960 minutes of music – technically a zettabyte would be able to store just over 2 billion years of music. If that still isn’t illustrative enough, let’s measure in cups of coffee. Cisco states that if the 11oz coffee on your desk equals to one gigabyte, a zettabyte would have the same volume as the Great Wall of China. This amount of information is mind-blowing. Zettabyte transformed Big Data into enormously Big Data.
The Internet of Things (IoT) is expanding rapidly and relentlessly. And as IoT grows, so do the volumes of data it generates. Ignoring this fact is not an option, and companies will do so at their own peril and risk.
Though there are many new start-up companies storing, analyzing and integrating massive amounts of big data created from the IoT, not many of them have actually considered how the IoT can and will transform organization thinking by implementing data quality and information governance.
With so much data being created, companies must understand what they want to do with it, what are their data requirements and ensure that they have access to the right data. Unless a company can find a way to accumulate, manage and, most important, monetize their data storage, data hoarding can be a real issue for them. Put simply, while the value IoT brings is in the information it creates, innovation gold lies in the filtered data an organization has extracted from the intermediate layer between the devices and the cloud (so called “fog”).
Obviously, data provides powerful potential for boosting analytics efforts. And analyzing the amount of data that is going to be created by the Internet of Things requires new, advanced analytic techniques. The good news is, artificial intelligence and cognitive computing are maturing at a fast pace.
When used properly analytics can help organizations translate IoT’s digital data into knowledge that will contribute to developing new products, offerings, and business models. IoT can provide useful insights into the world outside company walls, and help strategists and decision-makers understand their customers, products, and markets more clearly. It can drive so much more — including opportunities to integrate and automate business processes in ways never imagined before.
Rowan Trollope, Senior Vice President and General Manager of Cisco’s Internet of Things (IoT) and Applications, told participants at the Cisco Live conference, “One of the biggest mistakes you could make now is to underestimate the Internet of Things. This is a life or death issue for most of our customers. They have seen what has happened with Uber and taxi companies and with Netflix and Blockbuster”.
The bottom line is that IoT and Big Data can either disrupt your business or help you become more competitive compared to other businesses that are about to be disrupted.
Business Development Manager
Professional Software Development
Electronic Health Record (EHR) Trends: from wearables and telemedicine to cloud computing and big data
Posted April 11, 2016on:
The new trend for many medical practices is obtaining an EHR (Electronic Health Record) system. While there are many practitioners still using files and travel cards, EHR provides better efficiencies for billing, reimbursements, audits etc. Admittedly, there are more systems then doctors but acquiring an EHR allows better practice efficiencies and perhaps more money for the practice.
In this post we highlighted the most important EHR trends to see unfold this year. Thus, we expect wearables, telemedicine and mobile medicine to continue to advance. They’ll be joined by cloud computing, patient portals and big data.
Telemedicine and wearables plus EHR
The telemedicine market is forecasted to exceed $30 billion in the next five years, as providers increasingly see the need to reach seniors and patients in rural areas. Telemedicine offers tons of value to seniors. It improves care by getting it to remote patients who live far from hospitals. It also enables homebound patients to get high-quality care. It makes care cheaper, and allows seniors to stay at home longer. It benefits providers by making their jobs more flexible. And it also eliminates picking up new illnesses in a clinical care setting.
Wearables’ mass adoption has made store-and-forward telemedicine much easier. Devices like Fitbits automatically collect valuable health data. Store-and-forward telemedicine just means that data goes to a doctor or medical specialist so they can assess it when they have time.
EHRs are going mobile
More and more providers want to provide medical care from their smartphones, and more patients want to access data through mobile devices. Contributing factors to the popularity of mobile devices include their affordability, ease of use and portability (meaning they are easy to carry between patient exams to access electronic patient information). One of the other drivers of mobile technology in healthcare is the availability of myriad apps for smartphones and tablets. For each of the major smartphone operating systems, there is now an app for almost every conceivable healthcare need, ranging from drug dose calculators to fully functioning electronic medical records. Healthcare apps play a pivotal role in changing the utility of mobile devices. They’re transforming smartphones or tablets to medical instruments that capture blood test results, medication information, glucose readings, medical images, enabling physicians and patients to better manage and monitor health information. Healthcare apps are clearly taking on more mainstream health IT functions and have moved beyond sporadic use by early adopters.
From these facts we may conclude that EHRs will offer better mobile design and functionality.
More EHRs will move to the cloud
Start-up costs for EHRs can prove burdensome for some institutions, while cloud-based tools offer minimal start-up costs and can make better use of providers’ current resources. The cloud also enables better continuity of care. Cloud-based software means you can access records from outside the office. It makes mobile access possible. It makes transferring records a snap. And it makes updating software seamless for providers.
In the coming year, more and more EHRs will offer cloud services.
More EHRs will provide patient portals
Though patient portal usage got off to a slow start in 2013, in last two years it grew in popularity.
While about half of physicians offer patient portals right now, almost another fifth of them plan to offer one in the next 12 months. In a 2015 survey of more than 11,000 patients, 237 physicians, and nine payer organizations representing 47 million lives, almost a third of patients said they were interested in using a patient portal to engage with their physician, track their medical history and receive educational materials and patient support.
More providers will both offer and promote patient portals. Some may even have patients use the portals during office visits to begin getting their data into the system. And patients will start to see their value. Educating patients on how and why to use portals will be the key to getting them to use it.
Big data will reveal more connections
Personalized medicine enabled by big data is an emerging trend in healthcare. Innovation will continue apace in 2016.
Personalized medicine focuses on analyzing a person’s genome, environmental, social, biometrical, and religious influencers, and determining a treatment for the individual based on that data. It’s about moving from a one-size-fits-all approach to instead creating micro-buckets of patients by analyzing their medical records and genome sequences, and treating patients based on the research and records of how other patients in similar situations have reacted. Big data is working to identify the behaviors, risk factors, and early indicators of disease so doctors can prevent it more effectively.
Big data is only the first step. That data must be cleaned and structured so it can reveal patterns in factors that influence outcomes.
Moving forward, technology will continue to transform the healthcare industry as it plays a key role in new healthcare delivery models. EMR/EHR, mHealth, telemedicine, and many others identified will continue to increase their footprint in this growing industry. Where do you see Healthcare IT over this year? What EHR trends are you most excited about and what trends did I miss? Let me know in the comments!
Business Development Manager
Professional Software Development
The stumbling block for many companies and the reason why organizations fall behind in the planning and pre-planning stages of big data, appears to be confusion on how best to make big data work for the company and pay off competitively.
With all the talk about rapid deployment and breakneck business change, there can be a tendency to assume that businesses are up and running with new technologies as soon as these technologies emerge from proof of concept and enter a mature and commercialized state. However, the realities of where companies are don’t always reflect this.
Take virtualization. It has been on the scene for over a decade-yet recent research by 451 Research shows that only 51 percent of servers in enterprise data centers around the world are virtualized. Other recent survey data collected by DataCore shows that 80 percent of companies are not using cloud storage, although cloud concepts have also been with us for a number of years.
This situation is no different for big data, as reflected in a Big Data Work Study conducted by IBM’s Institute of Business Value. The study revealed that while 33 percent of large enterprises and 28 percent of mid-sized businesses have big data pilot projects under way, 49 percent of large enterprises and 48 percent of mid-sized businesses are still in big data planning stages, and another 18 percent of large enterprises and 38 percent of mid-sized businesses haven’t yet started big data initiatives.
The good news is that the study also showed that of those organizations actively using big data analytics in their businesses, 63 percent said that the use of information and analytics, including big data, is creating a competitive advantage for their organization–up from 37 percent just two years earlier.
The stumbling block for many and the reason why organizations fall behind in the planning and pre-planning stages of big data, appears to be confusion on how best to make big data work for the company and pay off competitively.
Big data projects need to demonstrate value quickly and be tightly linked to bottom line concerns of the business if big data is to cement itself as a long-term business strategy.
In far too many cases when people plan to build out a complete system and architecture before using a single insight or building even one predictive model to accelerate revenue growth. Everyone anticipates the day when Big Data can become a factory spitting out models that finally divulge all manner of secrets, insights, and profits.
So how do you jump start your big data efforts?
Find big data champions in the end business and business cases that are tightly constructed and offer opportunities where analytics can be quickly put to use.
When Yarra Trams of Melbourne Australia wanted to reduce the amount of repair time in the field for train tracks, it placed Internet sensors over physical track and polled signals from these devices into an analytics program that could assess which areas of track had the most wear, and likely would be in need of repair soon. The program reduced mean time to repair (MTTR) for service crews because it was able to preempt problems from occurring in the first place. Worn track could now be repaired or replaced before it ever became a problem-resulting in better service (and higher satisfaction) for consumers.
Define big data use cases that can either build revenue or contribute to the bottom line.
Santam, the largest short-term insurance provider in South Africa, used big data and advanced analytics to collect data about incoming claims, automatically assessing each one against different factors to help identify patterns of fraud to save millions in fraudulent insurance payments.
Focus on customers
There already is a body of mature big data applications that surround the online customer experience. Companies (especially if they are in retail) can take advantage of this if they team with a strong systems integrator or a big data products purveyor with experience in this area.
Walmart and Amazon analyze customer buying and Web browsing patterns for help in predicting sales volumes, managing inventory and determining pricing.
Professional Software Development