SigmaWay Blog

Several financial services clients currently are successfully building a robust suite of information platforms to offer a superior variety of resources for its researchers. With a unique platform that offers value to users, the job of researchers to help clients with current, assorted needs for market data is enhanced. The need for robust information platform is clearly due to a continual demand for market data. Other than the immediate availability of the data, researchers also need the data to be presented in a complimentary layout that boosts the usability of the data, which is a principal requirement of platform functionality. Read more at: http://blog.marketresearch.com/how-market-research-solutions-complement-financial-services-firms%E2%80%99-existing-data-resources

 A McKinsey study last year stated that companies using Big Data and data analytics effectively show high productivity rates and profitability. But implementation of data analytics is challenged by lack of skilled manpower. Recently many B-schools are stepping up and have emphasized on advanced analytics techniques such as 'Clustering', however very few institutes teach Big Data technologies like 'Hadoop'. The hiring companies which look for data analytics include digital companies, ad agencies, and IT companies and so on. Internationally a vast number of management schools including New York University, University of Texas at Austin, Georgia Tech have had Analytics certificate programs for the last five years or so.Read more at

http://www.business-standard.com/article/management/learning-the-abc-of-big-data-114062900615_1.html

To boost manufacturing and entrepreneurship in the country, Flipkart (Indian e-commerce company)  announced its tie up with Small and Medium Enterprise (SMEs) promotion bodies. Strong data analytics that forms the base of e-marketplaces will help the sellers to improve their products easily and attract more customers. According to the Executive Director of NCDPD (National Center for Design and Product Development), analytics and market intelligence provided by Flipkart will assist NCDPD in improving their products and R&D and also enable the craftsmen to create better saleable products. The objective of this tie-up is to continue helping entrepreneurs to create products according to buyer requirements and grow significantly by expanding their business so that they may become manufacturers not only at a local but also at a national level. Read more at: http://articles.economictimes.indiatimes.com/2014-06-18/news/50678912_1_data-analytics-flipkart-market-data.

A pilot project using predictive analytics and applied natural language processing identified 8,500 patients of Carilion Clinic who are at risk of congestive heart failure. Discrete data points, such as weight and medications, can be found in structured EMR (electronic medical record) fields. Unstructured data includes physicians' notes that are typed or read into a patient's EMR or discharge papers.  The natural language processing technology searched for key words or phrases within the unstructured data as well as in structured data. In all, 20 million documents were analyzed. Because approximately half of all patients who develop heart failure die within five years, according to the “Centre for Disease Control and Prevention”, early identification is essential. About 3,500 of the 8,500 patients Carilion identified as at-risk would not have been found if the project had analyzed only the structured data, according to Steve Morgan, MD and chief medical information officer at Carilion Clinic.

To know more, please visit famous author & reporter Maggie O'Neill’s article by clicking on the following link:

http://www.baselinemag.com/analytics-big-data/analytics-ids-patients-at-risk-for-heart-failure.html/