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Wearable Data Analytics and Business Models
Data analytics is becoming more prevalent within the IoT, providing companies with actionable information based on the data that devices and sensors collect. Companies are increasingly turning to wearable devices to aid employees with their work, providing them with information and collecting data about the user. Wearable data analytics is enabling companies to gain insight into worker processes, patient vitals, and customer habits, allowing informative decisions to be made. This analyzed data is more advantageous than the raw data, which can often be overwhelming and uninformative.Continue
Reports & Data
With the number of use cases for wearable devices steadily on the rise, it is not surprising to see the technology entering various sporting activities—most recently, the Winter Olympic and Paralympic Games. Wearables that were in use at these Games included those that improve athletes’ performance, provide heating during the opening ceremonies, offer a hands-free payment system, and aid partially sighted participants. The technology helped the athletes during training and participation in the Olympics, and its use in the Games raised awareness about the benefits and use cases for wearable devices.
In November 2017, insurance provider UnitedHealthcare announced that it is integrating Samsung and Garmin wearables into its Motion wellness program, which is powered by Qualcomm Life’s medical grade connectivity and secure 2net Mobile Platform. Members of UnitedHealthcare that take part in the Motion program will now be able to use Samsung Gear Fit2 Pro, Samsung Gear Sport, and Garmin vivosmart 3 trackers, in addition to the Fitbit trackers that were added in January 2017. The announcement highlights continuing adoption for wearables in enterprise applications, despite slowing consumer interest.
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Global healthcare spending is at record levels, driven by the cost of an aging population and the associated long-term care for chronic conditions like heart disease, diabetes, and obesity. Employers are facing these healthcare burdens, as well. Unwell employees cost companies more through increased health insurance plan costs. On average, they also experience more absenteeism than their peers and are generally less productive. This challenge is pushing employers, and the healthcare industry as a whole, to develop new products and solutions that can improve the health of individuals worldwide.
Over the past several years, employers have begun integrating wearable wireless devices into their wellness programs. These devices brought a new level of activity management and analysis to corporate wellness programs. They also increased employee participation rates and drove preventative programs for those covered by these programs.
This webinar will include an examination of the key drivers pushing wearable devices into corporate wellness programs, as well as what will drive success and competition in this market over the next five years. It will also include an overview of the major market players, including device manufacturers, insurance companies, and wellness providers, as well as how their efforts will converge to drive employee adoption and engagement into these programs. Additionally, the webinar will include a discussion on what these trends reveal about the evolution of the wearable device market.Replay
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