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jerryking : genomics   6

The Data Companies Wish They Had About Customers - WSJ
March 23, 2014 | WSJ | by Max Taves.

We asked companies what data they wish they had—and how they would use it. Here's what they said....
(A) Dining----Graze.com has a huge appetite for data. Every hour, the mail-order snack business digests 15,000 user ratings about its foods, which it uses to better understand what its customers like or dislike and to predict what else they might like to try...more data could help him understand customers' tastes even better. Among the information he wants most is data about customers' dietary habits, such as what they buy at grocery stores, as well as better information about what they look at on Graze's own site. And because the dietary needs of children change rapidly, he'd like to know if his customers have children and, if so, their ages.
(B) Energy-----Energy consumption is among its customers' main concerns, says CEO William Lynch. For instance, the company offers a product giving homeowners the real-time ability to see things like how many kilowatts it takes to heat the hot tub in Jan. Because of privacy concerns, Savant doesn't collect homeowners' energy data. But if the company knew more about customers' energy use, it could help create customized plans to conserve energy. "We could make recommendations on how to set up your thermostat to save a lot of money,
(C) Banking-----the Bank of the West would like "predictive life-event data" about its customers—like graduation, vacation or retirement plans—to create products more relevant to their financial needs...At this point, collecting that breadth of data is a logistical and regulatory challenge, requiring very different sources both inside and outside the bank.
(D) Appliances-----Whirlpool Corp.has a vast reach in American households—but wants to know more about its customers and how they actually use its products. Real-time use data could not only help shape the future designs of Whirlpool products, but also help the company predict when they're likely to fail.
(E) Healthcare----Explorys creates software for health-care companies to store, access and make sense of their data. It holds a huge trove of clinical, financial and operational information—but would like access to data about patients at home, such as their current blood-sugar and oxygen levels, weight, heart rates and respiratory health. Having access to that information could help providers predict things like hospitalizations, missed appointments and readmissions and proactively reach out to patients,
(F) Healthcare----By analyzing patient data, Carolinas HealthCare System of Charlotte, N.C., can predict readmission rates with 80% accuracy,
(G) Law----law firms that specialize in defense work are typically reactive, however some are working towards becoming more proactive, coveting an ability to predict lawsuits—and prevent them.How? By analyzing reams of contracts and looking for common traits and language that often lead to problems.
(H) Defense---BAE Systems PLC invests heavily in protecting itself from cyberattacks. But it says better data from its suppliers could help improve its defenses...if its suppliers get cyberattacked, its own h/w and s/w could be compromised. But "those suppliers are smaller businesses with lesser investments in their security," ...A lack of trust among suppliers, even those that aren't direct competitors, means only a small percentage of them disclose the data showing the cyberattacks on their systems. Sharing that data, he says, would strengthen the security of every product BAE makes. [BAE is expressing recognition of its vulnerability to network risk].
data  data_driven  massive_data_sets  Graze  banking  cyber_security  BAE  law_firms  Whirlpool  genomics  social_data  appliances  sense-making  predictive_analytics  dark_data  insights  customer_insights  real-time  design  failure  cyberattacks  hiring-a-product-to-do-a-specific-job  network_risk  shifting_tastes  self-protection  distrust  supply_chains 
november 2014 by jerryking
Canadian business, heal thyself
Oct. 18 2013 | The Globe and Mail |Jeffrey Simpson.

, the lessons BlackBerry/RIM once followed still seem urgent for the Canadian economy: research, innovation, productivity improvements, global perspective beyond the United States.

On Oct. 1, the Council of Canadian Academies summarized seven years of studies into Canada’s capacities in science, technology, innovation and productivity, releasing a report, Paradox Lost (the title must have come from the fertile brain of the brilliant Peter Nicholson, a member of the advisory group), that laid it on the line.

The government has been doing its part, especially in funding university research, the council concluded – although more money would always be welcome. What’s lacking is an “aggressively innovative business sector.”...Canadian companies rely excessively on U.S. innovation. They are content either to play an upstream role (extracting resources) or as subsidiaries of foreign companies. Too many Canadian businesses settle, the council reported, for a “profitable low-innovation equilibrium” (a fancy way of saying second-best) that conditions Canadian business’s behaviour and ambitions.....This problem of lagging innovation and inadequate R&D coincides with four major trends that will slow Canadian growth. First, the United States is in relative decline. Second, the growing global appetite for commodities means environmental challenges and volatile price swings. Third, scientific revolutions in fields such as genomics and nanotechnology will shape business and social life, but Canadian firms are behind the curve in both areas. Fourth, our aging population will be a drag on economic growth (and government revenues).
Jeffrey_Simpson  R&D  innovation  economic_stagnation  resource_extraction  America_in_Decline?  commodities  volatility  aging  complacency  Peter_Nicholson  aggressive  beyondtheU.S.  genomics  nanotechnology  productivity  paradoxes  laggards 
october 2013 by jerryking
In search of genomic incentives - The Globe and Mail
JONATHAN KIMMELMAN

The Globe and Mail

Last updated Wednesday, Dec. 19 2012

how drug development is failing science. Medical innovation involves a peculiar mix of seemingly contradictory motivations. Scientists and sponsors are driven by the pursuit of knowledge and a desire to relieve human suffering. But they also seek fame and fortune. Medical journals want to foster progress as well, but they sell more subscriptions when they report breakthroughs.

With the right balance of incentives, these often parochial motivations can work together and propel the best science toward the clinic. But countless failures in drug development – and their burdens for patients and health-care systems – should prompt a hard look at whether we’re striking that balance properly.

Consider the tensions between: (a) truth and compassion; (b) Truth and fortune...Physicians, patients, payers and public health programs depend on the research enterprise to supply a steady stream of medical evidence. The process of creating this social good, however, is driven by a mix of parochial interests. Personalized medicine – and other ways policy-makers are trying to prime medical innovation – will only deliver on its full potential if policies bring these motives into alignment with the goal of generating reliable and relevant medical evidence.
genomics  innovation  medical  personalization  personalized_medicine  aligned_interests  drug_development  parochialism  perverse_incentives 
december 2012 by jerryking
Insuring the Future
March 21 2008 | Memebox | By Jack Uldrich. The future will
largely be determined by the insurance industry’s ability to understand –
and thus underwrite – the future of various technologies. "For example,
in spite of genomics incredible potential to violently disrupt the
insurance industry’s business model of pooling risk, it is possible the
insurance industry will facilitate the adoption of genetic testing by
mandating that patients for certain diseases be genetically tested prior
to the administration of any new drug in order to make sure that that
drug will work effectively on the patient." "As F. Scott Fitzgerald
once said, “The test of a first-rate mind is the ability to hold two
diametrically opposed ideas in your head at the same time.”"
insurance  opposing_actions  Peter_Bernstein  future  innovation  risk-management  disruption  genetics  genomics  dual-consciousness  F._Scott_Fitzgerald 
february 2010 by jerryking

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