Why invest in data and analytics capabilities?
Let me give you 2 personal anecdotes that illustrate the social and financial impact you can have from investing in your organization’s data & analytics capabilities.
👩⚕️ 👨⚕️ The first example highlights a positive health outcome from investment in data & analytics.
Loop is a Type 1 Diabetes (T1D) application that automatically calculates and adjusts insulin doses. Through the collection of anonymized data from thousands of users, Loop developers refine the algorithm that calculates insulin delivery based on individual settings, food intake, activity levels, insulin already in the body, recent trends and predictions over the next 6 hours
How does Loop impact health outcomes? It improves the 2 primary metrics for blood sugar control in diabetics (FDA Trial Results):
Time-in-range (% of time when blood sugar levels are within the range that a non-diabetic is all the time)
A1C (average BG levels over the past 90 days).
I use Loop, and would like to thank the individuals and organizations who developed and funded it (see below).
💰 💰 The second example highlights a positive business outcome from investment in data & analytics.
As part of a multi-year transformation to improve the customer experience, the company invested in a master data environment, implemented a measurement strategy, and built an analytics infrastructure to identify drivers of positive or negative experiences, prioritize actions, and measure progress.
What were the results?
The company improved its Net Promoter Score (NPS) 35 ppts over the multi-year transformation, and drove $100s of millions in margin improvements through activity reduction and improved sales & marketing from more positive word-of-mouth.
The value from data & analytics is there, waiting for you to invest. Contact Us to transform your data into revenue and customer growth.
Special thanks to the developers and funders of Loop: Nate Rackyleft, Pete Schwamb, Mark Wilson, Scott Hanselman, Ben West, Chris Hannemann, Ken Stack, Dana Lewis, Scott Leibrand, Katie DiSimone, with funding ultimately by Tidepool, JDRF, The Helmsley Charitable Trust, the Tullman Foundation.
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