Businesses across the globe have been collecting immense amounts of data, but how do they convert that data into insights that help them improve their business and find loopholes? Well, that has been the question of the decade.
Indian entrepreneur Rajesh Babu Kodali, who is a computer science graduate from the Vellore Institute of Technology and has over the years helped improve the American healthcare system with his data mining techniques, answers some questions.
What is Data Mining?
When used in different industries, data mining has diverse meanings. According to Rajesh "the process of sorting through massive data sets to uncover patterns and build links in order to solve problems through data analysis" is the simplest way to understand what data mining is. He further goes on to explain the use of data mining technologies to find patterns and utilise those patterns to forecast future trends or the likelihood of future events.
How can data mining improve the healthcare system?
Over the years, scientific advancements in general have added immense value to the overall process improvement, but data mining has by far been the most helpful of them all. By using the pre-existing data, it has been possible to predict various diseases and have been able to advise the healthcare workers in making the appropriate clinical decisions.
According to him, through data mining, the healthcare industry can become very effective in medical research, pharmaceuticals, hospital management to name a few.
Highlight some of your key achievements as a data mining entrepreneur?
He completed his bachelors in computer science in 2013, and since then had a dream of uplifting the healthcare sector with his expertise, so he went to pursue his masters from the United States and explored his data mining passion. One of the key highlights of his data mining journey is detection and prevention of fraud and abuse. This data mining technique involves establishing patterns and identifying unusual patterns of medical claims, etc to detect healthcare fraud.
What would you suggest to aspiring healthcare entrepreneurs?
The covid-19 pandemic shook the world and has unraveled the need and scope of improvement the healthcare sector is lacking all around the globe. Improvement of the healthcare facilities is the need of the hour. The pandemic has been an eye opener, and world leaders have started giving healthcare the attention it needs. The development and advancements are all set to happen at a rapid pace, which will bring on table tons of opportunity in the sector, so if you are an aspiring healthcare entrepreneur, he says "It's your era, your idea is going to boom."
He is aimed at not letting any soul with ambition and ideas give up on their dreams. If you are passionate about an idea, everything else will fall into its place, he says.
