Databases Reference
In-Depth Information
You should have the capabilities to ingest data from all possible channels of
interaction, analyze the data and through sophisticated analytics and data visualization
techniques derive valuable insights. Take for instance, e-mail targeting. The traditional
approach has been to scan through your customer base, develop a list of customers
to whom you can send appropriate messaging and then send out mass mailers to all.
However, today's reality is personalization, by understanding consumers' browsing
history you can get down to the point of e-mailing a shopper with a message like “We saw
you last night on the women's shoes part of the website” and then send that shopper a
targeted shoe promotion. You can also leverage location data from mobile devices; if the
customer was in a store but didn't make a transaction then you can mail them a coupon.
If the customer opts in, then you can send them a SMS or e-mail promotion code while
they are in the store.
By effectively leveraging the big data analytics platform, merchants and marketing
teams can gain unprecedented insight into customers' needs and behavior using
integrated views around customer shopping and behavior from every touch point and
channel. The type of analytics can include: website traffic patterns, traffic by category,
traffic by SKU, user demographics, conversion and buying behavior, mobile device
patterns (in the case of mobile) and mobile application downloads.
Big Data Analytics for Health Care
Big data has many implications for patients, providers, researchers, payers, and other
health-care constituents. The health-care model is undergoing a massive change as the
confluence of regionalization, globalization, mobility, and social networking are coming
together to voice concerns around increasing cost of health care. From a health-care provider's
perspective, the key to profitability was to keep patients in treatment: that is, more inpatient
days translating to more revenue. In contrast the new model, which is increasingly supported
by government agencies, is to incentivize and compensate health-care providers to keep
patients healthy.
In addition, today's patients are demanding more information about their health-
care options so that they understand their choices and can participate in decisions about
their care. In a health-care scenario, traditionally the key data sources have been patient
demographics and medical history, diagnostic, clinical trials data and drug effectiveness
index. If these traditional data sources are combined with data provided by patients
themselves through social media channels and telematics, it can become a valuable
source of information for researchers and others who are constantly in search of options
to reduce costs, boost outcomes, and improve treatment.
Governments are increasingly focusing on financial incentives based upon
health outcomes. This puts the patient and the patient's care at the center of focus for
health-care ecosystem. Both payers and providers are getting incentivized to attain
improved outcomes while managing costs. This is a big change for providers who have
historically been compensated based upon activity (visits, tests, and treatments). Finally,
pharmaceutical companies, which are already paying into health-care reform through a
“drug tax,” are increasingly getting regulated on drug prices as there is increasing focus on
value-based outcomes and with a keen focus on costs.
