Financial Crisis Leading to More Data Integration and Dollars Spent – Healthcare Right Up There On the List

I remember after the stock market crash reading articles on the web about how 2-3 days afterwards that people were puzzled by Microsoft and others selling their new servers to a market that just crashed, well they know their markets and realized that rebuilding was the first thing to do. Did they buy, of course they did an rapidly on Wall Street to have the fastest, most efficient and high powered data and software available. I don’t know if Main Street realized or understood this process as there was enough other distractions going on at that time. Why do you think Goldman sits where they do today financially? They outsmarted everyone with knowing how to used technology and business intelligence, it is what it is.

Traders Profit With High Speed Computers and Servers…Health Insurers Use Them Too

Also in the news today it came out that Verizon and several other big employers “considered” dropping employer sponsored health insurance. They ran the algorithms to calculate the cost on do or don’t do. It’s great that this was on the web today, but it’s part of what business does today, the analyze and use those algorithms for decision making processes but it does make for a good OMG story. Senator Waxman wanted to see their decision making processes so he got it, the algorithms of risk management. The companies printed up 1100 pages as there may have been issues delivering in digital format so the companies did bend over backwards a bit to compensate for non participant levels in dealing with technology here so it could be read.

For some reason or another folks seem to have a hard time understanding what really happened here and this is where tech denial and lack of reading leaves a lot of folks wondering, not knowing and above all frustrated and angry. So far it turns out that the companies determined which was the better dollar route to go and it looks as if most are keeping employer provided insurance. The minute new laws and regulations are signed into place, immediately the risk management algorithms go to work to give data for decision making processes.

Even Madoff used “dirty algorithms” for all his money making schemes that nobody questioned for years, nobody was interested in how it took place but rather just took the money and ran and when it all shuffled out, unfortunately so many lost, but it pays to ask questions and try to understand how some of this comes around. BD

A Case of “Dirty” Algorithms – 2 Madoff Computer Administrators are Indicted – Illegal Coding and Networking for Big Profits

Maybe a Department of Algorithms is getting closer to becoming a reality someday with digital formatted technology making big strides and rapidly every day is entering into our every day lifestyles.

“Department of Algorithms – Do We Need One of These to Regulate Upcoming Laws?

Anywhere technology can take the place of humans today, it seems like it is being done and rapidly as it comes back to saving money so how do we fight this on the job end of things, and is there more falling out the bottom than we can put in at the top? BD

Data-integration spending in the financial sector will grow approximately 5 percent over the next two years, fueled primarily by data issues brought to light during the recent financial crisis, according to a recent report by The Aite Group, a Boston-based research firm.

This year alone, financial firms will spend $1.76 billion on costs related to data integration (personnel, hardware and software), according to the report commissioned by Asset Control, a data-management software firm. That's actually slightly less than financial firms spent in 2007, but more than the approximately $1.68 billion they've spent over the past two years.

The credit crisis and ensuing lack of industry transparency brought the need for effective data management to the forefront. The industry’s collective inability to understand and report on risk exposure quickly and correctly is tied to a lack of data, and not simply a failure of the systems themselves.

The announcements greatly annoyed Representative Henry Waxman, who accused the companies of using the big numbers to exaggerate health care reform's burden on employers. Waxman, chairman of the House Energy and Commerce Committee, demanded that they turn over their confidential memos, and summoned their top executives for hearings.

But Waxman didn't simply request documents related to the write down issue. He wanted every document the companies created that discussed what the bill would do to their most uncontrollable expense: healthcare costs.

AT&T revealed that it spends $2.4 billion a year on coverage for its almost 300,000 active employees, a number that would fall to $600 million if AT&T stopped providing health care coverage and paid the penalty option instead. AT&T declined comment.