Why big data will have a big impact on life sciences in 2016

Webinar: BIG BANGWhy Big Data Will Have a Big Impact on Life Sciences in 2016

Darryl Williams - Head of Global MDM and Platform SolutionsHealth Care

December 8, 2015

Webinar Overview

• Big Data is here to stay

• How Big Data will transform Life Sciences

• Why “The Cloud” makes sense

• Data insight through visualization

Big Data as a Paradigm

BigVOLUME

“More data has been created in the past two years than in the entire previous history of the

human race.”

http://www.forbes.com/sites/bernardmarr/2015/09/30/big-data-20-mind-boggling-facts-everyone-must-read/


BigVOLUME


“By [2020], our accumulated digital

universe of data will grow from 4.4 zettabytes today,

to around 44 zettabytes or 44 trillion gigabytes.”


BigVARIETYof Data Typesand Sources

• Structured – attributes• Unstructured – documents, publications

WORDS

• Measures – Internet of Things (IoT)• Metrics – KPIs

NUMBERS

• Music, podcasts• Audio feeds

SOUNDS

• Snapshots• Albums

PICTURES

• Events• Video feeds

VIDEOS


LexisNexis Risk Solutions collects the following amount of data per…

HOUR: 3.2 million

DAY: 77 million

MONTH: 2.3 billion

YEAR: 28 billion

BigVELOCITY



“By the year 2020, about 1.7 MEGABYTES of new

information will be created EVERY SECOND

for EVERY HUMAN BEING on the planet.”

BigVELOCITY

Is All This Data Useful?

BigVALUE

•Capturing data on the general population in real-time

•Correlating it to what’s happening in the real world

•Applying it to gain specific insights

Is All This Data Useful?

EXAMPLE: Driver data collected for auto insurance underwriting

Big Data in Life Sciences

QCan Big Data be used effectively in Life Sciences? AYes.

BIG time.

Traditional Data Warehouses

Data management is not new

Dimensions

Facts

Aggregation and roll-ups

Descriptors• Parties (Customers)• Geographies (Locations)• Assets (Products)

Events• Sales (Units, Currency)• TOV (Consulting, Speaking)• Claims (Procedures, Diagnoses)

Groupings• By Territory• By Therapeutic Class• By Period (Wk, Mon, Qtr)• By Comparison (TY vs LY)

Traditional Data Warehouses

Challenges and limitations

Aggregation (roll-ups) took time

New data, different input (TOV, Social Media)

Old technology couldn’t handle new input

Issues with• Consistency• Timeliness• Access

Challenges with• Variety• Volume

Structures for• Managing

relationships• Updating

information

The New Frontier

• Massive quantities of data from many sources

• More processing power

• Innovative data management tools

• Advanced analytics

• Ability to make sense and use of “some of the data”

More data

Better tech

New possibilities

New “Common” Data

• Payer data (capitation, bundled payments)

• Member data (health care teams, conditions)

• Provider data (readmissions, hospital-acquired conditions, “health grades”)

• Claims data (doctor visits, surgeries, procedures, diagnoses)

• Other market data (spend, sales, prescriptions, inventories)

Uncommon Data

• Public records• Education• Residential• Criminal

• Social media• LinkedIn, Facebook, Google+• Journals, articles and content• Forums associations and other online groups

The Power of Combining Data

The whole is bigger than the sum of its parts

Common data

Uncommon data

Marketplace insights

The Sky is the Limit in “The Cloud”

Not just data –

a solutions continuum

The Sky is the Limit in “The Cloud”

• Access part or all of the continuum

• Scalability, versatility and flexibility

• No procuring hardware or software

• No maintenance, repair or upgrades

• Cost effective

Transforming Data into Intel

Linking disparate data

Understanding relationships

Recognizing patterns

Mapping and Visualization Tools

Becoming a data scientist

Creative query combinations

Generating different

perspectives

Seeing new things in real-time

Multiple Enterprise Business Units

Commercial

Compliance

Clinical

Insight into Location and Proximity

Insight into Relationships

Insight into Influence

Other Insights

• “What are my customers doing and buying about which I need to know?”

• “How do they make decisions about the products they buy?”

• “How do we mutually benefit from their use of our products and services?”

• “How can we drive better outcomes for patients?”

Can You Say, Potential?


“Today, less than 0.5% of all data is

analyzed and used.”



“73% of organizations have already invested or plan to invest in Big Data

by 2016.”



“Estimates suggest that integrating Big Data could save

health care as much as 300 billion dollars a year—that’s equal to reducing costs by

$1,000/year for every man, woman and child.”

Conclusion

• Access to all kinds of dynamic data

• Technology to manage and analyze the data

• Tools to view and understand the data

• Information, insights and intelligence to make informed decisions in real time

• Expert services to help you maximize the power of Big Data solutions

HPCC - LexisNexis Technology for Big Data Processing

High Performance Computing Cluster (HPCC Systems®) enables data integration by managing the latest provider data information with our patented Master Data Management (MDM) & Analytics Platform, a powerful solution that delivers the data you need, when you need it – Real-Time.Our proprietary data management platform systematically collects, analyzes, validates, integrates and publishes the most comprehensive, accurate, and up-to-date client-relevant health care practitioner, organization, and affiliation information.

• Big Data Platform using scalable technologies Through comprehensive business capability services, you gain a competitive advantage with real-time updates to the most accurate provider data in the industry via robust data processing solutions.

• MDM as a Service is architected for business-differentiating, data-sensitive applicationsFrom the first data ping to ongoing monitoring, MDM as a Service yields business insight for operational excellence, competitive advantage and regulatory compliance.

- For more information, please visit www.hpccsystems.com

http://www.hpccsystems.com/

Let Us Help You Go BIG

Call 866.396.7703

Email [email protected]

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Healthcare

Why big data will have a big impact on life sciences in 2016