As Chris Catchpoole said in his presentation:
“In the business context, we’re all chasing the dollars.”
Most would agree and be in a relatable position in their industries. Not Rachel Fojtik, however.
In her industry, data and investment go towards the improvement of processes, which shows its ROI through human lives – not dollars. With one simple change, every process becomes completely different.
You can’t simply show a likely return on investment to the board and expect funding; the success/failure measures are far less tangible. Machine learning isn’t applied to convert a greater number of leads for minimal overheads; they’re there to ensure every patient is given the timelines and treatments with the highest chance of success. The least cost-efficient parts of your business model can’t simply be resolved with suitable alternatives. You need to understand the effect those processes have on both doctors and patients.
This fascinating glimpse into data within the medical realm shows the raw power of consumer data and how processes can vary when dollars aren’t as paramount.
Find out who else presented at Decoded @ iProspect in our Event Recap.