PREDICTIVE ANALYTICS: THE END OF HIT OR MISS
For most of the industrial age, entrepreneurs have flown by the seat of their pants. They imagined a disruptive new idea, funded it, created it, gussied it up with some branding, and then launched it in public to see if it caught on. This process led to some spectacular products—and plenty of duds. Now, pay-as-you-go supercomputing, sensors, big data, and powerful new software tools—collectively called predictive analytics—are dramatically improving product development.
In this chapter I will show how predictive analytics is helping researchers solve health sciences’ biggest problems. I will also show how companies are using it to speed up development time for new products and services—in ...