Curing healthcare challenges with Big Data

posted on Mon, January 14 2013 in Analytics, Big Data, Data Scientists

These are trying times for those in the healthcare industry, which no longer profit from their former status of seemingly sacred immunity. Healthcare providers of today need to continually prove that they are worth soliciting by delivering high-quality and efficient care services. For the sake of the patient but also to drive their own revenue and minimize expenses. To heighten the challenge, healthcare is turning into a consumerized market, with patients transformed into highly informed, critical and aware customers. If they check out a medical provider and they don’t like it, they will shop elsewhere.

“Big Data market to reach 23.8 billion by 2016” says IDC

posted on Fri, January 11 2013 in Analytics, Big Data

International Data Corporation (IDC) has released its ‘Worldwide Big Data Technology and Services 2012-2016 Forecast’, predicting that revenues for the global big data technology market will reach $23.8 billion by 2016. This will be the result of an annual growth rate of 31.7 % which is a staggering sevenfold of the rate of the entire ICT market.

Big Data here to stay, says new Actuate Corporation survey

posted on Thu, January 10 2013 in Analytics, Big Data

A recent survey by the Actuate Corporation – focusing on Global 9000 firms (companies with more than $1 billion in annual revenues) – revealed that 26% of the responding companies were currently working on Big Data projects while 34% said they resided in a planning and evaluating phase. A sizeable 40%, however, of respondents admitted that they did not have any concrete projects in the pipeline. The latter group indicated lack of experienced human capital and/or cost concerns as the biggest obstacles for launching themselves into Big Data.

Winning the war on customer churn with Big Data

posted on Mon, January 07 2013 in Analytics, Big Data

McKinsey claims that 55% of current marketing budget over the world is spent on new customer acquisition and only 12% on customer retention. However, according to ‛Leading on the Edge of Chaos’ (Emmet Murphy & Mark Murphy), organizations have only a 5-20% chance of selling to a prospect. The probability of selling to an existing customer - on the other hand - is between 60 and 70%.

It is all about C(I)Ommunication

posted on Tue, December 18 2012 in Analytics, Big Data

It is strange, what fear of change does to people. Fewer than 1 in 5 managers believe that they have all the information they need to perform their jobs effectively. Yet, so many are afraid to change their tried and ‘trusted’ decision processes because “that is the way we have always done it.” They admit that they lack the facts to decide about the future of their organization, they count on their intuition and keep the status quo.

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