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Mostrando entradas de enero, 2018

The Brain Is Not Probabilistic

The Double-Sided Nature of Big Data in Health Care

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The explosion of big data in the health care industry is both a boon and concern. The race to quickly recover actionable insights from such data can lead to innovation and pitfalls, yet big data has the potential to reap rewards in assisting patients and improve operational and clinical processes.When data assets are transformed into data insights, everyone wins — leading to lower health care costs, healthier patients, improved consumer and staff satisfaction and greater understanding and transparency in processes for all.Big data’s actionable insights have the ability to create a culture of meaningful health care, yet there are many roadblocks to overcome on the way there. Provider organizers must take a closer look at how they collect, store, analyze and present data to patients, staff and business partners to avoid a data mess without any beneficial or relevant insights.What is the most meaningful way to offer these insights? Here are the benefits and challenges providers face when…

How AI Learns What You’re Willing to Pay

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By Ted Gaubert.Why are we paying different prices? Is it ‘price personalization’ or a form of 'price discrimination'? The answer isn't so simple.The world of Artificial Intelligence (AI) dynamic pricing engines is rapidly progressing and changing the competitive landscape. This article provides an overview of a few areas that influence how an AI pricing engine decides the price to show you:Predicting market demand & micro-segmentationAccumulating asymmetric informationEstimating ‘Willingness to Pay’Shaping demand1. Predicting Market Demand and Micro-SegmentationAI micro-segmentation uses many customer attributes and behaviors to bucket customers by estimated willingness to pay. To explain in simple terms, let’s assume we have three buckets. We segment our customers by (A) high paying customers, (B) medium paying customers and (C) low paying customers. One strategy to maximize profits would be to first sell only to the high paying customer group A. Then any remaining se…

Back to the Future: 2018 Big Data and Data Science Prognostications

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“We should study Science Fiction in order to understand what someday could become Science Fact.”– Dr. Who?  Doc Brown?  Kodos and Kang?This is the time of year when everyone makes his or her predictions for 2018.  I have my predictions as well, but wanted to do something a bit more fun.  So I thought I’d look backwards to the state of technology 50 years ago to gain some insights that we can use to make projections about 2018. That is, what “predictions” made in the 1950’s might tell us about 2018.However, it’s really hard to find predictions about the future made in the 1950’s.  There was no Internet or Social Media or Reality TV, so I found the next best proxy…sci-fi movies!  I decided to review the most popular sci-fi movies from 1950’s, and provide my perspective as to what these movies might tell us about 2018.  Maybe drink a Tab or Fresca as you read this.The Day the Earth Stood Still (1951)
In the movie “The Day the Earth Stood Still”, a humanoid alien visitor named Klaatu comes…