The Future of Cyber Security, with Ray Rothrock

Asha Saxena explores cyber security and the future of Big Data with venture capitalist Ray Rothrock.

In this episode, we’ll talk about how Big Data is impacting cyber security and how businesses can overcome the common challenges associated with Big Data, from keeping sensitive information to finding the right talent to process and analyze the data. Without a doubt, Big Data is here to stay, which is why all businesses should focus on learning how to effectively use it. Continue reading

Using Data to Drive Business Strategy, with Doug Schmidt

Asha Saxena discusses the important topic of building business value using data as a core element with Doug Schmidt, a Chief Information Officer, Chief Technology Officer, and an entrepreneur.

In this episode, we ask a very important question: can we lead with innovation using data strategy to drive business strategy?

Company leaders put a lot of emphasis on business strategy and not enough on data strategy. Even when leaders track key metrics, they often measure the wrong ones when they lag data strategy behind their decisions.

How can we use data to drive the culture of our businesses? Listen in to find out how.

What you’ll learn in this episode:

  • Using business strategy to show you where to start and which route you should take to the destination
  • How mistakes often occur because businesses are operating within a culture that is not driven by data
  • How successful people in the business world tend to focus more on the results rather than the process and methodology and how focusing too much on the results can hinder one’s ability to deliver on the expectations they set for themselves
  • The stigma that technology and those who work in this industry have of not being collaborative and not understanding how a business truly works
  • Why technology is playing a greater and greater role in businesses with each passing year
  • How technology has essentially depreciated, and in some cases, eradicated the world’s oldest businesses
  • The ways technology has changed how we consume media and how companies are targeting audiences for advertising

Ways to contact Doug:

Data as Storyteller: Three Ways to Turn Your Analytics into Action

Here’s a scenario to consider: A Data Analyst is told to prepare a report. She has reams of figures ahead of her, and she’s a pro, so she sifts and sums, weaving through the numbers and finding precisely what she needs. The whole organization is captured in spreadsheets.

What she doesn’t realize is that within her detailed report is the potential to change the business. The data she’s gathering aren’t just numbers — they’re the story of the company’s employees, its customers, and how it’s changing over time.

Businesses sometimes generate reports for their own sake, as if data reporting is just a to-do list item to check off. But these reports are a waste if they’re not action-oriented. Continue reading

Big Data, AI, and the Power of Cross-Company Consolidation, with Nick Minale

Asha Saxena discusses the importance of healthcare leader cohesion with Chief Data Officer at John Hopkins Healthcare, Nick Minale.

In this episode, we explore the emergence of coordinated, mutually aligned partnerships created to maintain constant healthcare for the entire population. From the care continuum of care data to the role of facility standardization, the episode will pinpoint the uses—and risks—of our ever-growing information world.

Data, today, drives everything. Let us equip you with the modern knowledge you need to understand the healthcare world’s newest opportunities—as everything from AI to data governance suites are changing the way providers conduct business. Continue reading

Companies Can Learn from Big Data, with Dr. Anthony Scriffignano

Asha Saxena explores big data and how companies can use it to their benefit with Dun & Bradstreet’s Senior Vice President and Chief Data Scientist, Dr. Anthony Scriffignano.

In this episode, we uncover the fears that so many people and companies share with regard to big data. In our culture, we value privacy, and people feel as though with big data, nothing is sacred anymore, nothing is private anymore. Dr. Anthony Scriffignano explores this notion and provides insight into how big data is not scary but useful if curated to be used strategically.

Big data is here to stay. Businesses are using it, and if you don’t start using it in a meaningful way, you could be left behind.

Continue reading

Data Disruption in Healthcare

Asha Saxena examines transitions in how the healthcare industry manages and uses data during her conversation with Richard Cramer, the chief healthcare strategist at Informatica. Richard offers his perspective on changes in how healthcare providers gather and analyze data, as well as trends we should expect in the future.

This data disruption in healthcare will continue in dramatic fashion, allowing us to improve delivery of services at lower costs.

Join us as we discuss how this disruption will occur and what type of players will lead the disruption. Continue reading

3 Critical Pieces of Data Groundwork for Modern Business Strategy

Few companies realize the extent to which their business strategies depend on data — until it’s too late.

Think about it like a road trip. The business strategy tells you where to start, which route to take, and the destination. The data strategy tells you the condition of your vehicle, how much gas you have, and where the gas stations are along the route. Sure, you could successfully make it to your destination if you ignore the data, but your success is much more likely if you view the whole picture.

Company leaders put a lot of emphasis on business strategy and not enough on data strategy. Even when leaders track key metrics, they often measure the wrong ones when they lack data strategy behind their decisions.

Mistakes occur because businesses operate in a culture that is not driven by data. Too many executives only appreciate the value of data strategy after they try to use their data; then, they forget the lessons they learned when they plan their next move. Without proper data governance, companies cannot generate the intelligence they need to design and execute successful business strategies.

Execution at the Cost of Data Governance

Executives like to get things done. They worry less about processes and technology than they do about results. Unfortunately, that mindset hinders their ability to deliver on the expectations they set for themselves, their teams, and their companies.

Some companies, like Amazon, have freed themselves from this limited mindset. They no longer see data as a checkbox on a list but as a valuable asset. When a user adds a movie to the shopping cart, for example, Amazon’s data says that person is more likely to buy another movie in the same transaction, so the website shows comparable products on the next screen. These types of insights alone boost Amazon’s revenue by more than 30 percent every year.

Beyond the shopping experience, Amazon’s anticipatory shipping model predicts when and where people are most likely to buy products; then, it uses supply chain automation to keep those products in warehouses nearby. Amazon also uses data to set prices, combining information on demand, competitor pricing, and multiple other factors to decide when to discount and what to feature.

Retail giants like Amazon are ahead of the game because they constantly interact with customers. If they don’t innovate or if their data strategy is misinformed, they suffer major financial consequences. Soon, even businesses that rarely interact directly with customers will face the same choice: create a better data strategy or perish. To put data strategy at the core of your business strategy, there are a few tips to keep in mind:

1. Establish Stronger Data Governance

When no one agrees on the definitions of data elements, the pool of data becomes untrustworthy.

One of my customers in healthcare wanted to figure out the optimal treatment for a specific kind of tissue injury. When this client began its research, it realized that some physicians categorized this type of mass as a lesion, while others called it a mass. Different terminology made it impossible to compare the efficacy of different procedures on the same problem.

To create common definitions, put together a committee of leaders who understand the technology and importance of the data to the operation. This data governance committee should go through important KPIs and name the factors contributing to them so the company can measure everything the same way.

Data governance must always keep business goals at the forefront of the process. Data for data’s sake helps no one, but data aligned with concrete objectives improves the odds that the company will achieve its goals.

Struggling to agree on the best approach to data governance? Turn to a tool, like Informatica Axon or EnterpriseData Catalogue, or consult a third-party service.

2. Scrutinize Data Quality

Old or inconsistent data indicates that an organization lacks a solid data strategy. For B2B sectors, bad data is especially troublesome. Rates of data decay in these industries can reach 70 percent per year, and research indicates that the average sales team loses around $32,000 annually in pursuit of faulty prospect data.

Avoid bad data by evaluating the database for things that look unusual. If a doctor’s office normally sees 20 patients but shows 30 entries, that office should look at common factors like appointment times and medications prescribed to weed out the bad entries.

The most permanent solution to this problem is automation technology. Several tools empower companies in various industries to audit their databases and scrub bad entries. Current leading solutions in this area include Informatica Data Quality, Melissa DATA, SAP Data Services, Oceanos, and Listware.

3. Implement Master Data Management

Without a master record, data becomes fragmented. Companies spend unnecessary time to log and track multiple records when they could save themselves the headache through master data management.

Say, for example, a hospital is doing a marketing campaign. Contacts have first, middle, and last names. One employee can’t find an intended target, so he makes a new entry that includes a middle name when his original target was in the system without one. Now, the company has duplicate records for the same person, and workers will continue to log data in multiple places until someone corrects the issue.

Master data management arises from proper data governance. The data governance team comes together to determine policies, people, and processes and then selects one record to be the “golden record” to believe when two records disagree.

The best tool to assist companies in this area today is Informatica MDM. Thanks to its modular approach to master data management, Informatica MDM can scale with the company’s data, ensuring information remains accurate.

Business strategy should not precede data strategy. The two should work in harmony, with business strategy determining what data to collect and with data strategy using that data to inform the business strategy.

Remember, successful business plans are like road trips. You could take off without a destination or neglect to check your gas gauge, but it would be better if you used all your resources to ensure your success. Follow these tips to put data strategy at the heart of your business strategy to make more informed, successful plans.

http://ceoworld.biz/2018/04/12/3-critical-pieces-of-data-groundwork-for-modern-business-strategy/

The Role of Big Data & Artificial Intelligence in Clinical Trials for Cancer

Asha Saxena speaks with Ari Caroline and Issac Wagner about their progress with artificial intelligence and big data in clinical trials at the Memorial Sloan Kettering Cancer Center.

In this episode, the role of big data and artificial intelligence and its impact on cancer patients who participate in clinical trials is discussed candidly and pragmatically. Big data and artificial intelligence are changing the way we think about healthcare and altering the way it is applied to patients. With big data and artificial intelligence, healthcare will never be the same again. These things are transforming healthcare into a more meaningful and custom approach to personal care.

Though this discussion is specific to oncology clinical trials, it nonetheless provides an overview of innovative ways healthcare is changing to improve and accommodate patients’ health issues and experiences in the healthcare system. In this podcast, you will hear all you need to know about advancements and limitations of big data and artificial intelligence and their impact on healthcare.  Continue reading

Data Ethics: The Grey World Of Your Healthcare Data & Privacy

Asha Saxena takes a deep look at what data privacy and ethics means in the world of healthcare with Darrell Walter of Penn State Health.

Data privacy and ethics in healthcare is a big deal, because it affects all of us on at least some level. From health insurance premiums, healthcare access, employment, and even on a personal level of not wanting all our personal health information being made available to anyone who wants it.

So why is this worth a discussion? We have data protection laws, right? Well, this is where we step into a gray world. Big data in healthcare raises ethical issues because the data is used without a patient’s consent.

Medical records are governed by rules to protect privacy so most health data can be stripped of identifying information like your age or your lifestyle habits. However, it could cross into an ethical gray area if patient privacy is compromised. Continue reading

What Is Telemedicine?

Asha Saxena explores telemedicine and the future of healthcare with NewYork-Presbyterian CIO, Daniel Barchi.

In this episode we explore what telemedicine is, how big data is impacting healthcare and how virtualization of healthcare is transforming the industry from the ground up. Everything from access to physicians, reduced costs and improved health outcomes.

Healthcare is changing at an astounding rate and what you know today will be out of date before you know it. Let us provide you with a framework for understanding telemedicine and its impact on healthcare and patients alike. Continue reading