NEW YORK, Nov. 24, 2014 /PRNewswire/ -- The IBM Watson Group's investment in Pathway Genomics Corporation is a model for the types of partnerships that are bringing Big Data to the healthcare consumer marketplace, according to Kalorama Information. IBM hopes to use Watson, their cognitive technology, and Big Data -- enormous medical datasets – to transform the quality and speed of care delivered to individuals through individualized, evidence-based medicine. Pathway Genomics Corporation, a clinical laboratory that offers genetic testing services globally, plans to help deliver the first-ever cognitive consumer-facing app based on genetics from a user's personal makeup.
The Kalorama Information report, Big Data and Healthcare, notes that the challenges of Big Data are often best addressed through partnerships, strategic alliances, and acquisitions. The report outlines over 130 such relationships formed in an attempt to meet the daunting challenges of harnessing Big Data, which include transforming Big Data into actionable, evidence-based decisions; building collaborative scientific computing communities by standardizing data capture; developing policies, standards, infrastructure, and tools for clinical study data to enable analyses across multiple studies; and creating the predictive Big Data technology itself.
IBM is investing in Pathway to position both companies on the cutting edge of offering truly personalized wellness information. The new mobile app, Pathway Panorama, will be designed to call upon Watson's unique ability to uncover insights from Big Data by understanding the complexities of human language in medical journals and clinic trial data. The data will be combined with information about the individual's lifestyle and wellness-related biomarker data to provide personalized options to help the user and physician make informed decisions.
The healthcare market researcher's report notes entities both public and private that have come together in an effort to clarify the concerns that have come with the advent of Big Data. Groups are banding together to conduct real-world studies to determine the most effective and economical treatments, to explore initiatives that seek Big Data answers, to make data more widely available to researchers, and to facilitate healthcare transformation – including the development of new health information standards. The report, Big Data and Healthcare, can be found at Kalorama Information: http://www.kaloramainformation.com/Big-Data-Healthcare-8346613/.
About Kalorama Information -- Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.
SOURCE Kalorama Information