The availability now of huge treasure troves of data presents a golden opportunity for the healthcare sector. In particular the proliferation of EHRs (Electronic Health Records) has created a great source for generating business intelligence on patient care. This presents an opportunity to provide personalized care to patients. Machine Learning in addition is being applied to EHRs to fuel further information. Some guiding principles have emerged which pharma companies can use while deploying business analytics. Before any project is undertaken, it is necessary to devise a hypothesis against which the results can be tallied. To formulate a hypothesis, one needs to engage with the right stakeholders beforehand. One also needs to understand that the best source of data may not be one but several. Indeed, several data points may be needed to get the right hypothesis. For achieving really good results, the right feedback loops are needed. Critical insights can then be uncovered.

Source:https://hbr.org/2018/10/how-a-pharma-company-applied-machine-learning-to-patient-data

Uploaded Date:10 November 2018