The concept of Big Data is not big news. We’ve all by now embraced the term to describe the sheer volume of information that accumulates through electronic record-keeping. Corporate America is investing heavily in digital transformation; many organizations are already skillfully analyzing their data and applying their findings to better understand their customers, attract new ones, influence consumer behaviour, and personalize their business relationships.
There is tremendous potential in the digital records of dental practices that – to date – remains largely untapped. This fact is one of the drivers of ABELDent’s Practice Management By Objectives™: Our strategic methodology that guides dentists in turning their big data into smart data.
You may recall the invitation I extended last month in this space to attend a Digital Transformation seminar we co-hosted with Microsoft. The response was overwhelming… and so was some of the information presented.
In particular, I was very surprised to hear some of the statistics shared by Lynne Clarke-Drew, Customer Acquisition & Marketing Lead with Microsoft Canada:
- Every 2 days, we create as much information as we did from the beginning of time until 2003
- Over 90% of all the data in the world was created in the past 2 years
- Every minute, we send 204 million emails, generate 1.8 million Facebook likes and send 270 thousand tweets
- It is expected that by 2020, the amount of digital information in existence will have grown from 3.2 zettabytes today to 40 zettabytes
Jaw-dropping numbers, to be sure. (I had never even heard of zettabytes before this seminar!) Lynne went on to discuss the aspiration of the health industry to transform today’s “sick care” system by improving care outcomes, promoting population wellness and harnessing the data explosion.
I will recap additional highlights and learnings from this seminar in future posts. If in the meantime you would like to receive a recording of the full presentation, just call me at 1-800-267-ABEL (2235) Extension 350 or drop me an email at firstname.lastname@example.org