July 20, 2012
Several new publications about Big Data in healthcare are showing up with good analysis of this emerging field.
First, an article from PharmExec called “Super-Size Me: Optimizing the Information Explosion” which came out in May. They note new sources of information including:
- Electronic Medical Records
- Social Media
- Real world evidence
- Personalized medicine
- Track and trace systems
They see significant potential value in big data:
» Uncover unmet needs
» Assess the feasibility of clinical trial designs and recruit trial subjects
» Demonstrate product value
» Conduct pharmacovigilance
» React more quickly to market changes via real-time market measurement and sophisticated KPIs
» Enhance commercial activities and enable more personalized messaging
» Deploy predictive capabilities rather than retrospective analytics
And next they note the layers of technology required:
- Collection, Aggregation, and Storage
- “Nowcasting,” real-time data analysis, and pattern recognition will surely get better.
- The good of Big Data will outweigh the bad. User innovation could lead the way, with “do-it-yourself analytics.”
- Open access to tools and data “transparency” are necessary for people to provide information checks and balances. A re they enough?
- The Internet of Things will diffuse intelligence, but lots of technical hurdles must be overcome.
- Humans, rather than machines, will still be the most capable of extracting insight and making judgments using Big Data. Statistics can still lie.
- Respondents are concerned about the motives of governments and corporations, the entities that have the most data and the incentive to analyze it. Manipulation and surveillance are at the heart of their Big Data agendas.