Too many providers are failing to meaningfully integrate data analytics

healthcareitnews.com | January 13, 2020

Healthcare providers are failing to integrate digital data platforms into their IT infrastructure, and and analytics into their clinical and operational workflows. This despite widespread availability of the technology and a definite need for it, given the demands of value-based reimbursement.Those were among the findings of a Black Book survey of 748 providers organizations, which found utilization of advanced analytics was described as "negligible" by a whopping 80% of respondents.Meanwhile, 84% of the C-suite execs and board members polled said their health systems only used analytics to a  "limited or minimal extent to generate commercial or outcome insights," according to the survey.Even while the market for healthcare data analytics booms and provider access to such tools has risen sharply in past years, multiple factors, ranging from a lack of strategic direction to the absence of internal data scientists, have sharply curbed usage.A lack of financial resources and a lack of reinforced training were among the other challenges providers cited just 15% of respondents reported any meaningful utilization in financial forecasting and strategic planning.

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The Client is a leading Spare Part Manufacturing Company for Commercial Vehicles and Trucks, with a sizeable market share in the country. The Company earns a sizable sum of annual revenue amounting to $2 Billion but loses a fair share of its Revenue to claims made by Fraud claimants. In the past year, it faced losses totaling to $500 Million to pay out such fraudulent claimants. Given this situation the Client is looking for a Big Data advanced analytics solution that will pull sensor data from the Datalog of the server to determine.

Spotlight

The Client is a leading Spare Part Manufacturing Company for Commercial Vehicles and Trucks, with a sizeable market share in the country. The Company earns a sizable sum of annual revenue amounting to $2 Billion but loses a fair share of its Revenue to claims made by Fraud claimants. In the past year, it faced losses totaling to $500 Million to pay out such fraudulent claimants. Given this situation the Client is looking for a Big Data advanced analytics solution that will pull sensor data from the Datalog of the server to determine.

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BUSINESS INTELLIGENCE, BIG DATA MANAGEMENT, BUSINESS STRATEGY

Babel Street to Acquire Rosette, A Leading Provider of AI-Powered Text Analytics Software

Babel Street | November 29, 2022

Babel Street, a leading data-to-knowledge company, today announced it will acquire Rosette®, the AI-powered text analytics platform, from BasisTech. The combination of Babel Street and Rosette will form an enhanced data analytics and intelligence software platform, delivering rapid, rich insights across the threat intelligence, risk mitigation, and identity markets. Rosette, an AI software solution developed and provided by BasisTech, powers many of the largest mission-critical systems in the public and private sectors. Customers deploy Rosette’s text analytics platform for cross-lingual identity resolution to help protect national security, prevent financial crime, and verify identity. Rosette applies machine learning and deep neural nets to help companies identify and understand relationships amongst people, locations, organizations, and events in multilingual text. Babel Street delivers critical and timely insights from across a massive, multilingual digital landscape through a single pane of glass for analysis, collaboration, and action at superhuman speed. The acquisition positions Babel Street as a highly differentiated category leader in threat intelligence, risk mitigation, and identity markets. With Rosette’s complementary capabilities, Babel Street will provide expanded solutions to better serve the mission-critical needs of a broader set of government and commercial organizations worldwide. The new, comprehensive platform will support deeper entity knowledge base creation for screening and countering insider threats, leveraging Rosette’s deep AI and machine-learning-driven natural language processing (NLP) technology, as well as name-matching capabilities. “Babel Street's deep expertise in cross-lingual search across massive amounts of data, coupled with Rosette’s ability to identify, categorize, extract, index, and analyze all aspects of multi-language text, will help improve safety and security for our customers. “With the addition of Rosette, we will create a leader in threat and risk intelligence, best positioned to capitalize on the large market opportunity at a time when this technology is increasingly vital for awareness and security. We’re thrilled to welcome Rosette’s deep bench of talent to the Babel Street team.” Michael Southworth, CEO of Babel Street “We’re excited for the opportunity to see Rosette’s technology integrated with the most comprehensive and flexible open-source intelligence platform available,” said Carl Hoffman, CEO of BasisTech. “Rosette’s NLP capabilities are a natural complement to Babel Street’s advanced analytics capabilities and will provide a powerful asset in helping screen for global threats and risk with greater context and understanding.” Customers across industries can expect the integration to offer expanded, locally deployable capabilities and the addition of AI capabilities fueled by the most comprehensive range of enriched, standardized data sources across the digital landscape. This will provide greater intent understanding and trend discovery for governments and commercial enterprises across many industries including healthcare, financial services, manufacturing, and logistics. Following the close of the transaction, Babel Street will continue to market Rosette as a standalone offering and incorporate Rosette’s differentiated technologies into its own solutions. “In addition to threat detection, conversational AI-enabling technologies like NLP have the potential to become the basis for trust between companies and their customers or trading partners,” explained Dan Miller, lead analyst at Opus Research. “Rapid recognition of intent, real-time situational awareness, and machine learning empower Babel Street and Rosette to be the cornerstone for an ever-expanding set of mission-critical use cases.” Specific capabilities that Rosette will bring to Babel Street include: Advanced Natural Language Understanding: including relevancy scoring, document clustering, and Chinese, Japanese, and Korean tokenization delivering greater accuracy and richer insights across global markets. Entity Extraction: including identifying relationships between people, places, and organizations, and entity mapping to rapidly identify and filter open-source searches across the world’s largest enriched document store. Expanded Artificial Intelligence and Machine Learning Modeling: including topic classification and intent detection, as well as risk and fraud scoring, entity attribution, and pattern detection for highly extensible capabilities across a wide range of use cases, including language analytics. About Babel Street Babel Street provides the most advanced data analytics and intelligence platform for the world’s most trusted government and commercial organizations. The AI-enabled platform helps them stay informed and improves around-the-clock decision-making for threat intelligence, identity and risk management, and alerting use cases. Teams are empowered to rapidly detect and collaborate on what matters in seconds by transforming massive amounts of global, multilingual data into actionable insights so they can act with confidence. Babel Street is headquartered in the Washington, D.C. area, with offices in London, Canberra, and Ottawa. For more information, visit babelstreet.com. About BasisTech and Rosette® Data analytics and machine learning are critical to verifying identity, understanding customers, anticipating world events, and uncovering crime. BasisTech provides businesses and governments with advanced analytics and AI-powered solutions for deriving insights from multilingual text, connecting data silos, and discovering digital evidence. The Rosette text analytics platform employs machine learning and deep neural nets to extract meaningful information from unstructured data. 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BIG DATA MANAGEMENT, DATA SCIENCE, MACHINE LEARNING

Bitwise Introduces Data Platform Cloud Migration Suite at PASS Data Community Summit

Bitwise | November 17, 2022

Bitwise, a Chicago-based technology consulting and services company, introduces its Data Platform Cloud Migration Suite, an end-to-end set of services leveraging proprietary automation tools and frameworks to help enterprises accelerate migration of data warehouse and business intelligence to the cloud, at PASS Data Community Summit today in Seattle. Bitwise Data Platform Cloud Migration Suite addresses major challenges faced by data and analytics leaders seeking to take advantage of modern cloud-based data lake architectures and machine learning capabilities by automating the most difficult parts to migrate like legacy on-premise ETL, data objects and orchestration. To address these challenges, Bitwise combines its proven automation tools, utilities and frameworks with over 10 years of migration experience into dedicated practices for Data Migration, ETL Migration and BI Modernization with a complete migration methodology covering Assessment, Conversion, Validation and Implementation. "At Bitwise, automation is central to our thinking. There are many migration tools offered by the leading cloud providers, but from our experience, we have found certain gaps in providing a seamless migration solution. “Anytime we find a hole in the cloud-native offerings, we develop a tool or utility to fill it. As a result, we created a suite of accelerators to reduce the time, complexity, and cost of data platform cloud migration and adoption." Shahab Kamal, Chief Technology Officer at Bitwise Bitwise introduces its Data Platform Cloud Migration Suite at PASS Data Community Summit where it is an exhibiting sponsor. The event is one of the largest gathering of data platform professionals and hybrid conference with a global data audience, both online and in-person. “PASS Data Community Summit brings together a large audience of data professionals making it a natural fit for us to introduce our Data Platform Cloud Migration Suite,” says Ankur Gupta, Chief Executive Officer at Bitwise Inc. “We closely partner with Microsoft, a premier sponsor of the event, to provide a seamless solution to migrate to cloud-native services like Azure Data Factory and Synapse using our proprietary automation tools such as ETL Converter and Cloud Data Migration Tool.”

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BUSINESS INTELLIGENCE, BIG DATA MANAGEMENT

Foursquare to Power Geospatial Data Visualization in Amazon SageMaker

Foursquare | December 06, 2022

Foursquare, the leading independent location technology company, exclusively powers data visualization for the new Amazon SageMaker geospatial capabilities announced last week at Amazon Web Services (AWS) re:Invent 2022. Foursquare Studio can visualize geospatial data at a massive scale with ease, enabling data scientists to explore geospatial data interactively and seamlessly on a map as they build, train, and deploy ML models on Amazon SageMaker. The world's most innovative companies rely on geospatial data to make critical business decisions. Many of them, including Uber, Redfin and DoorDash, already work with Foursquare to enrich their business processes with location data and analytics tools. As more and more enterprises realize the opportunity for geospatial data to improve their decisions, they are looking for simpler ways to extract insights using cutting edge ML models. Before today, data scientists and ML engineers had to build and assemble a complicated chain of data sets and ML tools to extract insights from geospatial data, slowing down their pace of innovation. Using Foursquare Studio, data scientists and ML engineers can explore massive geospatial datasets interactively. With Foursquare Studio in Amazon SageMaker, customers can extract geospatial features of predictive value, such as identifying the most frequently traversed areas of a city or detecting traffic patterns after an event, to make predictions. Utilizing these geospatial features, they can also build ML models that enable business analysts to make smarter and faster decisions, such as choosing where to locate their next store or estimate the value of a property based on the characteristics of its neighborhood. “Foursquare continues to invest in location technologies that serve enterprises as well as consumers. “Having worked with AWS to build Foursquare Studio in Amazon SageMaker, we are excited to see customers use the new geospatial capabilities to generate meaningful insights. Many businesses are already using Foursquare data and tools along with AWS analytics and machine learning services. We look forward to helping many more enterprises unlock the potential of geospatial data with Foursquare Studio in Amazon SageMaker.” Ankit Patel, SVP of Engineering at Foursquare About Foursquare Foursquare is the leading independent location technology company, dedicated to helping businesses make smarter decisions and developers create more engaging user experiences. A pioneer of the geolocation space, Foursquare’s geospatial capabilities are used by the world’s largest enterprises and most recognizable brands, helping them take advantage of location intelligence to create better customer experiences and smarter business outcomes.

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