With the boom of digital technology, artificial intelligence, and more advanced methods of computing, organizations and enterprises are increasingly relying on data to drive their decision making.
When contemplating big data analytics, it is imperative to discuss Palantir Technologies, one of the world’s most famous companies in this arena that prides itself on “empowering organizations to effectively integrate their data, decisions, and operations.”
The company’s objective is to enable organizations to better understand data and use that information to foster impact: “We’re focused on creating the world’s best user experience for working with data, one that empowers people to ask and answer complex questions without requiring them to master querying languages, statistical modeling, or the command line. To achieve this, we build platforms for integrating, managing, and securing data on top of which we layer applications for fully interactive human-driven, machine-assisted analysis.”
The company has seen significant success in the last few years with notable customers, ranging from governments to corporate clients in the finance, aviation, and automobile sectors, among others.
Notably, the company is also rapidly increasing its presence in healthcare. Earlier this year, the company announced a multiyear partnership with world-famous healthcare organization Cleveland Clinic to deliver an “operations virtual command center” to help the hospital system with data-driven decision making and resource allocation.
Rohit Chandra, Chief Digital Officer of Cleveland Clinic, noted in the press release: “Implementing the Virtual Command Center as the foundation of our hospital operations is transformative to our organization and our ongoing mission to provide the highest quality of care to every patient…We are proud to be working with Palantir to equip our caregivers with the tools to make the best decisions for patient care.”
In congruence, Shyam Sankar, COO of Palantir further commented: “The right software is essential to modern healthcare, and we are thrilled to be working with Cleveland Clinic to bring the experience and expertise of Foundry to enable data-driven decision making and apply it to hospital operations…Not only will the Virtual Command Center improve efficiency and financial outcomes for Cleveland Clinic’s facilities, but it will also allow for more patients to be seen and treated every day, and that’s exactly the kind of mission-critical outcome Palantir was built on.”
The announcement celebrated the collaboration of two leading pioneers in their respective fields; Cleveland Clinic, one of the most prestigious medical institutions in the world, and Palantir, which commands an incredibly niche skill-set in the modern digital economy.
Palantir’s venture into healthcare is incredibly relevant: for a data analytics company, healthcare provides the perfect breeding ground to test and develop software as a means to deliver meaningful impact. The healthcare industry is also incredibly ripe for disruption and is eagerly craving innovation with regards to data. Healthcare data is a notoriously challenging aspect for organizations to deal with due to a multitude of problems. The data is often siloed, evades interoperability, and lacks meaningful use, given how challenging it is to analyze cohesively. This is why big technology companies such as Google, Amazon and even Microsoft are investing billions to try and decipher healthcare data—and this is where Palantir can likely leverage its niche expertise.
With these aspects in mind, the company has woven its presence throughout the healthcare industry. It partnered with the National Institutes of Health in 2021 to help navigate research for Covid-19. Earlier this year, Cardinal Health announced that it would be working with the company to optimize supply chain operations.
Of course, the company must strive to develop its technology and tools with strict attention to maintaining patient privacy, security and safety. However, this is just the start for Palantir—and there is certainly more to come.