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data innovation

Dan-Riskin

5 Q’s on Data Innovation with Dr. Dan Riskin

Dr. Riskin is the CEO of Health Fidelity, a leading provider of natural language processing solutions. He is also a Consulting Assistant Professor of Surgery at Stanford University and practices one day a week out of the Stanford affiliate hospitals. I recently had the opportunity to get his thoughts on how data-driven innovations are transforming the health care industry.

Castro: In what ways do you see data changing health care today?

Riskin: Data is used daily to define a new generation of healthcare. Not only do patients do research on the internet, request medical support by e-mail (in some systems), and share their own medical stories online, but the actual care delivered now includes apps and remote technologies that offer supplemental care. The most fundamental change related to healthcare is the redefinition of practice, often known as data-driven healthcare. Data-driven healthcare is a big data approach to healthcare, leveraging information learned from treating millions of patients to personalize care for the few. This turns a half century of medical practice using evidence based medicine on its head. Instead of defining care for millions based on a randomized trial performed

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5 Q’s on Data Innovation with Tim Callan

Cross-posted on Data Innovation Day

Tim Callan is the Chief Marketing Officer of RetailNext, one of the leading provider of in-store retail analytics. I asked Tim to talk with me about how companies like RetailNext are bringing the type of data analytics traditionally used by online retailers to brick-and-mortar stores.

Castro: How are retailers using in-store analytics today?

Callan: Think of in-store analytics as the equivalent on online analytics offerings like Google Analytics or Omniture, but for brick-and-mortar stores. Some of the common uses of in-store analytics are floor layout optimization, staffing optimization, theft reduction, measurement of marketing and merchandising programs, testing display and fixture effectiveness, optimizing checkout queues, and monitoring for stock-out situations. The bottom line improvements have been quite dramatic. For example, Montblanc and American Apparel have reported that they used the RetailNext platform to improve same-store sales 20% and more than 30%, respectively.  Brookstone used the platform to reduce shrinkage by about a million dollars a year. And Family Dollar remodeled more than 1300 stores in nine months based on the insights it learned from RetailNext.

Castro: What kind of data is used for in-store analytics

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