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Monday, April 23, 2007

Better Vision A "Swipe" Away?
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I had the most amazing conversation the other day. The information was so remarkable I couldn't wait to share it with you.

Most of us (99.9%) are extremely naive as to what is going on about us. Are you surprised?

Speaking with a marketing expert/statistical analyst, I learned about something called predictive modeling. Never heard the phrase before but apparently it's been around a long time.

Predictive modeling is the science of developing mathematical constructs that enable reliable prediction of future events or measurements based on past information. Please, don't run away! It gets better, I promise!

Short version: predictive modeling uses data about you to predict your future.

Retailers rely heavily on predictive modeling. Every time I go to my favorite electronics store they already know how often I visit, what I usually purchase and what brands I prefer. This information is collected (mined) from previous credit card purchases. When sorted by zip codes and other criteria, local merchants know in advance what I'm more likely to buy (Bluetooth wireless remote for my laptop) and more likely to ignore (Borat DVD).

Predictive modeling is migrating over to other areas in our lives like healthcare.

Thoughtful analysis of patient care data (millions of records) can give health professionals a more precise view of an individual patient's medical status. Done correctly, predictive modeling can help doctors warn patients of imminent diabetes, heart disease, cancer, even stroke.

This approach can be more effective than the present model: Instead, a discussion based on predictive modeling may sound like this:
  • "When we compare information in our database to information about you and your eye exam we discover that there's a 95% chance that you will develop glaucoma before your 40th birthday. Let's talk about treatments that can prevent you from losing your precious eyesight."
Privacy concerns? This type of data mining can be performed anonymously. Paperless electronic health record systems are already collecting data that may one day allow you to know more about your future.

Did you buy the Borat DVD? Hope you paid cash for it!

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Posted by: Dr. Lloyd at 11:15 AM

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