Article of the Week
Big Changes Are Ahead For The Health Care Industry, Courtesy Of Big Data (Fast Company)
Big Idea: A hospital analyzed data from 300,000 ER visits, looking for correlations among 25,000 variables, to identify the biggest factors of patient re-admission. The hospital is addressing the relevant factors – some of which were surprising to the medical staff – to improve patient care.
Editor’s Choice Articles
The Softer Side of Risk Management Means Fewer Analytics (SmartData Collective)
Big Idea: For the past 25 years, with their elegant analytical models, quantitative analysts and transplanted physicists have ruled the roost in Finance. However, as global financial flows (and financial products) get more interconnected, complex and opaque; investors and managers are finding this new paradigm terrifying. It’s high time to supplement quantitative strategies with the softer side of risk management—before it’s too late.
The $10 Billion Idea This VC Wants to Fund (Inc.)
Big Idea: The Managing Director of Bain Capital Ventures believes the next hugely successful start-up will be a big data company providing marketing analytics services to enterprise customers. Sales, Finance, and HR have all given rise to at least one $10-billon company over the past 20 years. Marketing hasn’t, and Ajay Agarwal thinks it’s time.
There Is No Single Best Measure of Your Customers (HBR Blog Network)
Big Idea: A look at single-measure customer metrics, like Customer Satisfaction and Net Promoter Score, and their effectiveness at predicting business performance and customer loyalty. The implication of the research is that the growing reliance on a simple single customer metric is a very dangerous trend.
7 reasons to adopt SaaS BI…Now! (BIME Blog)
Big Idea: Data is getting bigger, tools are getting better, and more companies are moving to cloud-based BI. Here are seven reasons why that may make sense for your business.
The Science of Building a Scalable Sales Team (HBR Blog Network)
Big Idea: An MIT-trained engineer takes over a sales team and creates a system of hiring and development based on metrics and quantitative analysis. Here are four specific tactics that worked.