Big Data and the Precision Medicine Revolution

28 Pages Posted: 29 May 2018 Last revised: 23 Aug 2018

See all articles by Wallace J. Hopp

Wallace J. Hopp

University of Michigan, Stephen M. Ross School of Business

Jun Li

University of Michigan, Stephen M. Ross School of Business

Guihua Wang

University of Michigan, Stephen M. Ross School of Business, Students

Date Written: April 17, 2018

Abstract

The big data revolution is making vast amounts of information available in all sectors of the economy including health care. One important type of data that is particularly relevant to medicine is observational data from actual practice. In comparison to experimental data from clinical studies, observational data offers much larger sample sizes and much broader coverage of patient variables. Properly combining observational data with experimental data can facilitate precision medicine by enabling detection of heterogeneity in patient responses to treatments and tailoring of health care to the specific needs of individuals. However, because it is high-dimensional and uncontrolled, observational data presents unique methodological challenges. The modeling and analysis tools of the production and operations management field are well-suited to these challenges and hence POM scholars are critical to the realization of precision medicine with its many benefits to society.

Keywords: big data, precision medicine, observational data, machine learning, causal inference

Suggested Citation

Hopp, Wallace J. and Li, Jun and Wang, Guihua, Big Data and the Precision Medicine Revolution (April 17, 2018). Ross School of Business Paper No. 1386. Available at SSRN: https://ssrn.com/abstract=3178772 or http://dx.doi.org/10.2139/ssrn.3178772

Wallace J. Hopp

University of Michigan, Stephen M. Ross School of Business ( email )

701 Tappan Street
Ann Arbor, MI MI 48109
United States

Jun Li (Contact Author)

University of Michigan, Stephen M. Ross School of Business ( email )

701 Tappan Street
Ann Arbor, MI MI 48109
United States

Guihua Wang

University of Michigan, Stephen M. Ross School of Business, Students ( email )

Ann Arbor, MI
United States

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