Big data is a hot topic. Devices from wearables to smartphones keep track of personal health data 24/7, and all of that data can be funneled to physicians and hospitals. Like any advancement in technology, big data presents both benefits and challenges.
Never before has there been so much insight into key audiences, including patients and referring physicians. Personalized information can help determine how to communicate with each audience segment through highly-targeted, precision marketing. Marketing efforts, outreach strategies, and many other business decisions are now being aided by big data.
Big data, when mined correctly, can also offer predictive advantages. A deep and personalized understanding of consumer households may, for example, allow potential health issues in specific families or individuals to be proactively identified. Using this powerful predictive data, marketers can direct specific promotional and educational materials to target households. Not only can big data predict outcomes or behavior, but it can also impact the marketing and business decisions intended to influence those outcomes.
Precision marketing, engagement, and CRM utilization are essential considerations in data- and analytics-focused marketing strategies. With the current shift towards value-based reimbursement instead of volume, the healthcare industry needs to better understand individual patients in order to more effectively interact and engage with them.