ZURICH (Reuters) - When people take to Twitter to comment on the great evening they enjoyed with good food and wonderful friends, reducing their monthly insurance bill is probably the last thing on their mind. But such tweets could help insurers to price premiums for individuals, with research suggesting a direct link between positive posts and a reduced risk of heart disease. This could lead to future insurance cover based on "sentiment analysis", in which Big Data and artificial intelligence make predictive models ever more accurate. Swiss Re says technological advances will cut the price of insurance protection and help individuals and firms make better decisions through programs that offer advice and incentivise improvements in areas such as health and driving. However, detractors fret that such developments could erode customers' privacy or lead to increasingly personalized pricing, undermining the basic principle of insurance - sharing risk.
Technology presents huge opportunities and challenges for our health and care system. Shipments of the activity tracking wearable Fitbit are up 25.4% this year, signalling more and more of us want insights into our exercise, eating, weight and sleeping patterns. As we begin to generate our own health data, our relationship with our bodies will change, and the way we understand and seek healthcare will be transformed. "Some of my patients will share outputs from their wearable ... when it comes to their yearly reviews. But this is the exception, rather than the rule at present," says Dr Junaid Bajwa, director of healthcare services, Merck (MSD).
Ravi Ramaswamy, Senior Director and Head, Healthcare, Philips Innovation Campus (PIC) in conversation with Techseen, discusses how Big Data is changing the landscape of healthcare in India and globally. He also talks about how Philips is aiming to integrate Big Data Analytics with the cloud and machine learning to improve various verticals of the medical and healthcare industry. Ramaswamy: It is not different; in both the situation you are analyzing the data to make the consumers life easy. In healthcare we save lives with this data and in enterprises we work towards making life comfortable/easier for the user. Big Data in healthcare allows flexible patient monitoring, leading to a better diagnosis and cure for the ailment.
Mrs D'Souza, a 72-year-old from Goa, suffers from congestive heart failure, a disorder in which the heart does not pump sufficient blood and oxygen. Patients rarely survive beyond five years of developing the disease. She had been advised to frequently visit her hospital, but she doesn't. Because her doctor is always keeping a tab on her health and is abreast of any pre-condition which might affect her well-being. Her vital parameters, including blood pressure, heart rate, and blood sugar, are continuously under observation through sensors positioned on her body.
You may have heard that'Data Scientists' were recently projected to have the sexiest career of the 21st century. Well, that may just prove to be true. A big part of this'sexiness' factor has to do with how'in-demand' data scientists are, as compared to the number of available and qualified applicants. Despite the advent of business intelligence (BI) tools, which supposedly are user-friendly to laypeople unfamiliar with the ins and outs of interpreting data analytics on their own, data scientists are still needed to determine which programs or systems would be best utilized to parse data of interest, at any given time. Data analysis & presentation has come a long way since simple charts and graphs.