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3 Ways The Internet Of Things Is Revolutionizing Health Care

If you or a loved one has undergone medical treatment recently, you’re probably aware of some of the cool new devices that help perform diagnosis and treatment. You may not be aware, however, that some of these devices are connected to the Internet and have become an important part of the Internet of Things (IoT) ecosystem.

How exactly does connecting MRIs, a CT Scanner, or lab test equipment in this way improve patient care?  Here are three benefits:

1. Reducing device downtime through remote monitoring and support

An IoT device can be tested and diagnosed remotely. For example, a technician can connect from their own office and run diagnostics on an MRI that has failed. The technician can pinpoint the problem’s root cause and leverage a Knowledge Management application to find answers to common problems. The technician can also remotely connect to hospital technicians to provide hands-on support. When the root cause is identified, a new part can be shipped with instructions for replacing the defective part—or it can be delivered by a field engineer.

Companies like Varian Medical Systems are seeing a 50 percent reduction in mean time required to repair their connected devices. Varian reduced service costs by $2,000 for each problem resolved remotely, with 20 percent fewer technician dispatches worldwide. Elekta is also seeing excellent results from providing instant expert advice and “over-the-shoulder support” to their customers for Elekta radiation oncology machines.

2. Proactive fulfillment by replenishing supplies before they are needed

An IoT-connected medical device can report back to the “mother ship” when critical operational components are being depleted. For example, helium levels in an MRI machine need to be monitored to ensure that the device is operating correctly. By using IoT-connected devices, field engineers can be dispatched to a hospital before an MRI’s helium levels are depleted, avoiding a total machine shutdown and patient rescheduling.

Lab devices require specific chemicals and compounds to operate; connecting smart devices can enable real-time monitoring, tracking, and response. The asset depletion information can trigger alerts and automatic replenishment of the supplies limits downtime and improves patient and caregiver satisfaction. Abbott Laboratories performs just-in-time consumable replenishment by monitoring system parameters through the cloud.

3. Efficient scheduling by leveraging utilization to serve more patients

At a conference I attended with several hospital CIOs, I observed a recurring theme: “These machines are too expensive to be managed inefficiently.” Machine utilization is not readily available—and, when it is available, data are gathered manually. An IoT medical device can provide daily utilization statistics that can be leveraged for patient scheduling.

For example, if a MRI in one location is only 20 percent utilized and one in another location is over-subscribed, doctors can reassign patients to use the other scanner during off-peak times. The data can be fed into a cloud-based scheduling application and can also factor in periodic maintenance information. Or, if helium levels are low in one MRI, you can schedule a technician, schedule the maintenance activity, reschedule the affected patients, and perform the inventory/asset management functions and track them through a cloud application.

 

Source: http://blogs.salesforce.com/company/2014/05/hospitals-internet-of-things-patient-care.html

Ever tried to processing realtime sensor data, computing analytics and generating alerts? Trust the experts, invest in Complex Event Processing!

 

 

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Market abuse under watch

In order to restore confidence in the financial markets and keep up with new trading technology, market authorities have been serioursly monitoring market participant behaviours. For instance, in the US, the Commodity Futures Trading Commission (CFTC or Commission) came up with final rules to prevent disruptive trading practices in the framework of the Dodd-Frank Act. In Europe, the European Securities and Market Authority (ESMA) has been promoting the convergent implementation of a market abuse regime and the European Union has recently agreed on the sanctions against market manipulators. Under the EU news rules, companies convicted of market abuse could be fined either 15 percent of their annual turnover, or 15 million euros. Individual perpetrators could face fines of up to 5 million euros and a ban on holding certain jobs within investment firms. The case of Panther Energy Trading LLC and its owner Michael J. Coscia is an exemplary one in the global fight against market manuipulation.

On July 22th 2013, the U.S. Commodity Futures Trading Commission (CFTC) issued an order filing and simultaneously settling charges against the firm and it ownerfor engaging in the disruptive practice of “spoofing” by utilizing a computer algorithm that was designed to illegally place and quickly cancel bids and offers in futures contracts. This unlawful activity took place across a broad spectrum of commodities from August 8, 2011 through October 18, 2011 on CME Group’s Globex trading platform. The CFTC Order requires Panther and Coscia to pay a $1.4 million civil monetary penalty, disgorge $1.4 million in trading profits, and bans Panther and Coscia from trading on any CFTC-registered entity for one year.

According to the CFTC, Coscia and Panther made money by employing a computer algorithm that was designed to unlawfully place and quickly cancel orders in exchange-traded futures contracts. For example, Coscia and Panther would place a relatively small order to sell futures that they did want to execute, which they quickly followed with several large buy orders at successively higher prices that they intended to cancel. By placing the large buy orders, Coscia and Panther sought to give the market the impression that there was significant buying interest, which suggested that prices would soon rise, raising the likelihood that other market participants would buy from the small order Coscia and Panther were then offering to sell. Although Coscia and Panther wanted to give the impression of buy-side interest, they entered the large buy orders with the intent that they be canceled before these orders were actually executed. Once the small sell order was filled according to the plan, the buy orders would be cancelled, and the sequence would quickly repeat but in reverse – a small buy order followed by several large sell orders. With this back and forth, Coscia and Panther profited on the executions of the small orders many times over the period in question.

In a related matter, the United Kingdom’s Financial Conduct Authority also issued a final notice regarding its enforcement action against Coscia relating to his market abuse activities on the ICE Futures Europe exchange, and has imposed a penalty of approximately $900,000 against him. Furthermore, the CME Group, by virtue of disciplinary actions taken by four of its exchanges, has imposed a fine of $800,000 and ordered disgorgement of approximately $1.3 million against Coscia and Panther and has issued a six-month trading ban on its exchanges against Coscia.

Rogue traders or runaway algorithms can generate costly operational errors and potentially huge fines from the market authorities. In this context of ever-changing regulations and varied compliance requirements, investment companies need to proactively detect themselves abusive and erroneous trade patterns. For ESMA compliance, all  market participants using automated strategies have to monitor and identify potentially abusive trading practices (momentum ignition, ping orders, quote stuffing, advanced Layering, spoofing, etc.). In that respect, complex event processing is the key technology that enables real-time analytics and internal case management for compliance officers who have no more excuse in front of the market authorities...  Learn more → Analytics and Decisions

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Capital markets to accelerate their adoption of cloud services

The capital markets are set to increase investment in cloud services, continuing the trend of technology adoption in the industry. In a new research "Cloud in the Capital Markets: A Progress Report by Rik Turner", Ovum indicates that due to improvements in cloud security and a wider variety of applications, investment in cloud, by both the buy side and the sell side, is set for further growth. The research highlights that although the capital markets aren't fully integrated with the cloud, this situation is set to change in the coming years.

The capital markets are set to increase investment in cloud services, continuing the trend of technology adoption in the industry, according to Ovum. New research* from the global analysts indicates that due to improvements in cloud security and a wider variety of applications, investment in cloud, by both the buy side and the sell side, is set for further growth. The research highlights that although the capital markets aren’t fully integrated with the cloud, this situation is set to change in the coming years.

Currently, the buy side has more integration with cloud services. Order management systems (OMS) are increasingly hosted and managed services delivered by third parties, rather than in-house applications, although they are not yet wholly cloud services. Meanwhile, portfolio management systems (PMS) are now commonly hosted solely in the cloud.

“The buy side tends to be an easier target for cloud than the sell side, given that more of its participants are smaller firms with limited IT budgets,” says Rik Turner, senior analyst, financial services technology, Ovum. “That said, the sell side is changing. With budgets and headcount under more constraints since the global financial crisis, there are clearly opportunities on that side of the business too.”

Investment in IT infrastructure is not restricted solely to the capital markets. Ovum’s ICT Enterprise Insights** reveals that financial markets firms in general are set to increase their spending on IT systems. As with capital markets firms, changing regulation, the introduction of FATCA and continued IT failures are driving spend on risk and compliance.

As capital markets participants deploy more of their internal IT infrastructure in the cloud, some see the hybrid cloud as the next logical step. However, there are still obstacles to overcome before this can be utilised effectively, such as a lack of standards and deterministic latency. Another area with potential is the adoption of software-as-a-service (SaaS) for vertical-specific functionality. This goes beyond generic applications such as customer relationship management (CRM) software, and companies are beginning to capitalise on this market.

Turner concludes: “Cloud services adoption in the capital markets has increased in the last few years. In the future, there will be an even faster uptake of cloud services. Although the process of migrating services to the cloud is often driven by cost constraints, there is also now a dimension of preparing a platform for the sector’s future evolution.”

Source: http://ovum.com/press_releases/ovum-reveals-capital-markets-to-accelerate-their-adoption-of-cloud-services/

 

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Algorithmic marketing versus the nightmare of automated social media bot

According to Forbes, Big Data is the biggest game-changing opportunity for marketing and sales since the Internet went mainstream almost 20 years ago. Algorithmic marketing is emerging as an approach to manage a full range of marketing issues such as targeted offers, communications and pricing, using analytical methods (predictive statistics, machine learning and natural language text mining).

But algorithmic marketing is not just about automating social media interaction. Recently Bank of America suffered brand damage with an automated social media bot. While their intent was good to automatically detect tweets that mentioned the bank and propose help to customers, their "algorithm" was unable to distinguish between a routine customer service situation and a brand nightmare protest.

If you are seriously considering to automate your customer experience through social media, trust the experts, don't do this!

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EU vice-president Neelie Kroes about big data

Whatever you're doing these days — chances are you're using big data. Whether you know it or not.

Neelie Kroes, European Commission, talks about the huge opportunities of big data in the digital era - and how Europe can make this a recipe for growth.

Originally recorded for the 2013 Big Data Conference in Brussels

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Big Data Analytics is not a hype

Big Data Analytics is not just hype.
Big Data Analytics is more than technology. It's a new way of thinking.
Here's proof as to why we need Big Data Analytics:
In 2012, the world's information totaled over 2 zetabyes. That's 2 trillion gigabytes.
By 2020, that number will be 35 trillion.
80% of this new data is unstructured.
It is too large, too complex, and too disorganized to be analyzed by traditional tools.
We need new tools and new talent to navigate this information and find value.
We are at the beginning of the Big Data Revolution.
Are YOU ready?

Source: Link Analytics

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Xelink provides connectivity to Equiduct Trading

Equiduct provides a pan-European single point of connectivity to offer a fast and cost-effective all in one trading solution through a sophisticated market model that enables investment firms to provide order by order best execution to their clients in the easiest possible way.

Xelink, as a certified partner, offers remotes trading screens and hosted connectivity to Equiduct Trading to allow small to mid-size institutional firms to trade major European stocks with guaranteed best execution. All the loose ends of MiFID compliant trading are brought together in a unique set of product modules VBBO (Volume-weighted Best Bid and Offer), PartnerEx and HybridBook. XeLink provides a cost effective solution for small to mid-size institutions need to make trading decsions and obtain best execution.

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Algorithmic trading seminar

Xelink co-organizes the Algorithmic Trading Seminar at Nyse Euronext Brusels Stock Exchange

NYSE Euronext organizes a “Algorithmic Trading” meeting on March 4th, 2009 from 11:00 am till 3:00 pm at the Stock Exchange of Brussels
 
On the agenda for this meeting are the following topics:
 
- Introduction by Mr Frédéric Hertogs
- A sell-side experience – Mr Luc Aspeslagh, KBC Securities
- A buy-side experience – Mr Philip Bille, Petercam Asset Management
- Apama algorithmic platform – Mr Charles Platt, Progress Apama
- Xelink hosted algorithmic services – Mr Alfred Attipoe, Xelink
            
To register or for more information, please Jeannine Denis: tel +32 (0)2 509 9489 or  This email address is being protected from spambots. You need JavaScript enabled to view it.  

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Xelink SA
Boulevard de la Woluwe, 56/4 - 1200 Bruxelles

Email: info.request(at)xelink.net

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