Big data is playing a key role in healthcare and several health institutes are seeking a solution that could bring the very latest drug interaction data right to patients’ bedside. Data analytics helps to analyze massive data volumes and conduct multiple drug studies, test and apply brand-new algorithms to quickly identify drug risk warning signals.

To read cases on how data analytics enhance healthcare follow http://bigdataanalyticsnews.com/10-big-data-analytics-use-cases-healthcare/

Human Capital Management help companies  to organize their human resource and improve employee productivity. Human capital management tries best to utilize the knowledge and skills of an employee. Human capital management drivers act as an important tool for effective human resource management.  Human capital management drivers fall into five major categories, which are: leadership practices, employee engagement, knowledge accessibility, workforce optimization, learning capacity.

Read more to know about Human capital management drivers: http://managementstudyguide.com/human-capital-management-drivers.htm

Taiwan is in a seismically active zone as it is situated on the earthquake prone Pacific ring of Fire. The cracks in the lightweight partition walls cause customer dissatisfaction as repairing cost is higher. To increase customer satisfaction, American Society of Civil Engineers (ASCE) is applying Six Sigma in construction technology. Application of C&A (Cause and Effect) and FMEA (Failure Modes and Effect Analysis) is being used to determine the reason of cracks. To know more on this please go through the following link.

http://ascelibrary.org/doi/abs/10.1061/(ASCE)ME.1943-5479.0000155

According to a recent EY (formerly Ernst & Young) survey, very few Indian companies use ‘forensic data analytics’. Seventy-two per cent of the 500-odd companies surveyed believe Big Data has the potential to mitigate frauds. However, only seven per cent are aware of specific Big Data technologies and only two per cent are using such technologies. There are 2 basic reasons behind the sceptical mindset among Indian companies about using big data to detect frauds. First is shortage of big data skilled workers & second is their reluctance to invest in these technologies.

To know more, visit the following link:

http://www.thehindubusinessline.com/features/smartbuy/why-we-arent-using-data-analytics-to-detect-fraud/article5897189.ece

An article by Jaylee Miguel, lead community manager of Emoderation, talks about different new features of twitter like timeline changes, mobile updates etc. Now the key question is how brands can use Twitter's new features to their advantage? To answer this, she mentioned that brands can use the video sharing tool to communicate with competition winners in a creative way, thus raising awareness of new campaigns by tagging others. But she also spoke about how free tagging feature can create spam.

To know more about follow http://socialmediatoday.com/jaylee-miguel/2341916/how-brands-can-make-most-out-twitters-new-features

You may think that a call center business is pretty simple. But, as customers are changing their interaction behaviors, modernization of call centers is an imperative point of today’s business. Customer retention is an important parameter here and you must aim to reduce it to as minimum as possible because a slight reduction in it can benefit you by reducing your cost to a considerable extent. While looking at your call center business, you must aim for its effectiveness and must ensure that it is productive. But, the question is how should you go for it?

Mary Velan, author at Business 2 Community gives you some tips to revamp your call center customer experience from scratch. Read them here: http://www.business2community.com/customer-experience/4-tips-modernize-call-center-customer-experience-start-finish-0840687#!DylE3 .

Outsourcing has turned up as the most competent business strategy for getting non-core business functions taken care of by experts. India has captured the position of unchallenged outsourcing hub of the world. Some of the reasons behind the increasing demand are:

1. Low cost solution

2. More profits for businesses

3. Availability of talented resources

4. Favourable government policies

To gather more insight on each of the reasons visit http://www.callcentersindia.com/displaynews.php?idnews=319_Why_Outsourcing_Call_Centers_To_India_Is_In_Demand

The main principle of Lean Six Sigma is to reduce waste and defects, thereby improving your process performance. But, just implementing it may not help you to bear the fruit. In the first step, you have to think ‘What will be the financial implications if I apply Lean Six Sigma on this process?’ Your company’s bottom line is the ultimate thing that speaks. So, it should be in such a way that when you apply the principles of Lean Six Sigma on the right processes, it will help you to optimize the costs associated with it and generate maximum return out of your investments.

Chris Rees, Director of Operations for SigmaPro and a Lean Six Sigma Black Belt, talks about how to go about for tuning your process that is financially beneficial. Read it here: http://www.business2community.com/strategy/linking-process-financial-performance-0834974#!Dswbh

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/

In the circuit-based telephony world, watching the status of a few thousand network nodes was a satisfactory answer to assuring network health. But today, the number of alarm points to monitor has scaled to the millions. No operator has the money to constantly monitor the performance issues of individual smart phone users. It is time for operators to get real and invest more in proactive analytics than in reactive alarms. What’s more, the gap between network planning and assurance has to be shortened. Why? Because the cause of today’s customer-experience problem is yesterday’s lack of good data for capacity planning.

During a recent conversation with columnist Dan Baker, big data architect Kelvin Hall, reveals about his firsthand experiences of the problems faced by network operations and big opportunities that await them through a greater mastery of analytics techniques. To read more, visit the following link:

http://www.billingworld.com/blogs/baker/2014/04/from-alarms-to-analytics-the-paradigm-shift-in-se.aspx

The world’s music habits were once relatively private. Record companies were aware about which radio station played their songs and where their CDs were popular, but that information painted an incomplete picture at best in reality. Who knew what music people were sharing on tapes and CDs burnt in the privacy of their own bedrooms? The sales figure notifies companies about the number of records or CDs sold, but no information can be tracked after that. With the time, the music industry is changing, thinking is changing, market is changing. The explosion of data from sources like torrents, music streaming sites and social media platforms has offered the music industry a huge opportunity to track sales, monitor post selling behaviour, understand their fans and spot upcoming artists like never before. Music analytics is now worth an estimated £ 1.8 billion per year. While internet is taking power away from record labels, it is also giving them the ability to predict future hits. Universal Music UK’s director of digital, Paul Smernicki, thinks that ultimately the music industry will always be focused on content, no matter what analytical tools are available. According to him,“It’s important to remember that it's just a set of tools to help inform us. The data doesn't make the decisions, that's an un-replicable part of what we do.” But with robots replacing humans in every sphere of work, who knows how long it will be before music- the most successful talent scout in the industry is defined by an algorithm!

To read more, visit: 

http://www.theguardian.com/technology/2014/apr/09/music-analytics-is-helping-the-music-industry-see-into-the-future

Most banks nowadays implement Analytics intensively to gain insights from their customers’ data. By generating reports with the help of queries and analytical tools, questions are answered for better decision makings. But still formulating and testing the hypotheses, tuning the model and tweaking the data structures are being done manually. Though much of the work is done by computers, the main part, which is thinking requires human intervention.

But, all these are set to change with the help of Cognitive Computing and Analytics. So, what is cognitive computing? Cognitive computing is the ability to master natural language processing and draw deductions that are not typically possible.

To provide impetus to the growth of its products and services, Global financial services firm DBS Bank has redefined its financial operations with the power of Cognitive Computing and Analytics and they are bearing fruits from it. Read more at http://www.baselinemag.com/analytics-big-data/bank-turns-to-cognitive-computing-and-analytics.html  on how they are doing so.

Electronic Health Records are critical to succeed in healthcare service, but they are not enough.From a healthcare provider’s perspective, after spending a lot of money and time on EHR, reluctance to evaluate other solutions for population health management or “accountable care” can be understood. So, healthcare providers are choosing to wait for their EHR to evolve in order to address new demands associated with taking on and managing risk. But according to industry analysts this can be a long wait as wide range of functions are going far beyond what EHRs were built to do. Here analytics tools and solutions come to the rescue. Performing analytics using clinical and claims data, organizations can gain deep insight into patients, population, and performance, predict outcomes and rapidly identify the actions needed for improvement. This insight can be gained through a wide range of analytics solutions that deliver retrospective views of activity, ongoing surveillance of current activity, predictive modelling of future activity, as well as root-cause analysis.

To read more, visit the following link:

http://ehrintelligence.com/2014/04/09/why-moving-beyond-the-ehr-is-needed-for-population-health/

The 25-bed critical access Monadnock Community Hospital faced a huge deficit as a direct result of an unexpected ice-storm that hit the state of New Hampshire in December 2008, causing a two-week power outage. The hospital was in deep financial trouble.Fortunately for the hospital and the region, the hospital management had decided to look into various options to bail the hospital out of this crisis. The hospital's lab department had some success following a lean Six Sigma model, so the hospital authority pursued the strategy hospital-wide. Mr. Peter L. Gosline, president and CEO of Monadnock Community Hospital, had highlighted the success of the hospital's five-year "lean" journey during the American College of Healthcare Executive's 2014 Congress in Chicago, a model that he estimates has saved the organization $1 million a year!

To read more, visit the link address given below:

http://www.fiercehealthcare.com/story/how-lean-strategies-saved-nh-critical-access-hospital-financial-ruin/2014-04-07

Tired of hearing about Big Data? Accept it or not, you have to get used to it. Hundreds of companies are ready to offer impressive remuneration to hire people with quantitative skills. Ms. Linda Burtch, with her 3 decades of experience in recruitment, has tracked the rising demand for workers who can understand and manipulate data. In a recent interview, Chicago-based Ms. Burch talked about what companies want, how midcareer professionals can compete and why workers who are left behind could face a "permanent pink slip."

To read more, visit the following link:

http://online.wsj.com/news/articles/SB10001424052702304819004579489541746990638?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304819004579489541746990638.html

Big Data! While you are reading the two words and also this blog, you may be not aware that you already have Big Data right in front of you.

Many small businesses think Big Data to be very expensive to analyze. But, let me tell you one thing – we are analyzing Big Data freely for years! Sounds unbelievable right? Okay, so here’s the thing.

Nowadays, social media has become a great means of communication for every business. Many of them have their page on Facebook, LinkedIn, Google Plus, profiles on Twitter, etc. The social media platform can provide valuable insights about their products or services and also about their target customers. With low investments, you can get to know your customers’ behavior, know their demographics and much more. But seeing large volumes of data can make you puzzled.

Nicole Fallon from Business News Daily writes about some tips to get you started. Read them at http://www.businessnewsdaily.com/6190-smb-big-data-tips.html

A successful human capital management plays a significant role in achieving organizational goals. Nowadays, information technology plays an important role in human resource management, evolving from the automation of repetitive tasks such as payroll, to bottom-line driven processes aimed at aligning human capital with corporate strategy. Human capital management (HCM) software solutions offer a framework to manage the abilities, skills and experience of employees. Studies have shown that human capital management (HCM) practices explain over 50 percent of job satisfaction levels. Ultimately, the effects of HCM solution will extend beyond job satisfaction to customer satisfaction and revenue.

Read more to know the factors and elements of a high performing HCM system, at http://www.cmicglobal.com/human-capital-management.html

Most retail companies today operate in the master franchisee model where master franchisee manages the operations of the different stores of the brand. In such cases, it is important to understand the difference between what the company sells to its franchise stores and what the stores in-turn sell to the consumer. This metric is where the insights are hidden. Hence it is very important that companies track &understand this metric to optimally manage stocks and avoid costly stock-out or over-stock situations. Important decisions like the number of new stores that should be opened, best location & size of each store in different cities are not a straightforward choice! Data analytics usage in this space has proved to solve this dilemma. It helps companies to decide the optimal size of each new store they open, while ensuring that these decisions takes into account key parameters like real estate rental costs, catchment area, average incomes in the geographical area, presence of competition etc. Therefore, data analytics is simplifying complex business problems.

Arvind Nagpal wrote about this aspect in his recent article. To read more, please visit the following link:

http://www.informationweek.in/informationweek/perspective/288161/analytics-helping-retail-outlets-critical-decision

According to a new survey conducted by Deloitte, it is found that as complexity in global supply chain networks continues to increase, less than one-third (26 percent) of business executives are using data analytics tools and processes to help manage third party relationship risks.Thirteen percent of those surveyed are still learning how to use analytics software and 22 percent use no data analytics at all. Few market leading companies leverage advanced data analytics tools and forensic accounting to identify anomalies in their transactional data & getting astonishing benefits while rest are lagging far behind in this issue. Nearly one-third (31 percent) of business executives surveyed, said that their organization has faced supply chain fraud, waste or abuse in the past 12 months.

Mark Pearson, principal, Deloitte Financial Advisory Services LLP, speaks about why organizations need data analytics to tackle supply chain fraud. To read more, please visit the following link:

http://www.net-security.org/secworld.php?id=16641