Philips unveils analytics platform for real-time info

Philips unveils analytics platform for real-time info

To benefit India's healthcare industry

Philips unveils analytics platform for real-time info

With analytics bringing a tectonic shift in the global healthcare  delivery,  Philips Innovation Campus, part of  the €22.3- billion Koninklijke Philips, has unveiled a platform which will give real-time information based on analytics to healthcare workers and decision makers.

In an interaction with Deccan Herald, Philips Innovation Campus (PIC) Chief Executive Officer Srinivas Prasad said the  healthcare segment is on a transformational phase that clinical data and patient history play pivotal role in healthcare delivery.

“We have to collate different data from different sources. Here analytics plays a major role. Besides hardware support, we need solid software tools on top of it to analyse these data to give real-time information to healthcare workers,” he said.

150-strong team

Prasad said the company had been working on this for the past two years and already deployed it in more than dozen   of countries. “PIC played a pivotal role in the delivery of the analytical solution. We have a team of around 150 data analysts who are working on this project and we are looking to  double the headcount to meet growing demand,” he said.

He said in India currently healthcare data analytics is a $100-million opportunity and will double within a couple of years.

According to data published recently, total Internet of Things market in Healthcare will reach $117 billion by 2020.

“We are also finding $1-billion outsourcing opportunity emerging on this front globally. Recently it is reported that US is facing acute shortage of trained data analysts,” he said.  
Philips, which holds 50 per cent market share in the healthcare monitoring devices space, says its hardware experience helps it do better in data analytics.

When asked about the mobile push in data analytics, he said the company has already developed different apps supporting healthcare demands. “We have a separate department which assists in this mobility front. We are also using our tele-medicine department to bring in more innovation here,” he said.

To a query, Prasad said the company has made substantial investments in analytics. “I can’t reveal the exact figure on this front. We are making more investments to make Philips an innovation-led next generation company,” he said.

Philips has 55 research and development (R&D) centres across the globe and PIC is one of the biggest centres, and among the top three in terms of size.