By now, some of us are used to hearing news about Amazon making a play on a new verticle. Consumer electronics? Check. Cloud? Double check. Online retail and brick and mortar? Um-hum. Grocery? Check. Media and entertainment? Yup. So why is healthcare getting so much buzz? To me, this move makes perfect sense.
Let’s take, for example, my husband. He knows that I wash my face before I go to bed. But does he know which cleanser, toner, serum and moisturizer I use? Does he know that most of my products are chosen to help fight anti-aging (a battle I know I will lose)? Does he know that each product is vegan? No, but Amazon does.
While my husband doesn’t really need – or care – to know these granular details of my nighttime skincare regime, these data points reveal a lot about my approach to personal health and wellness. As a data mining pioneer and innovator, I think it’s safe to assume that insights like these are fueling part of Amazon’s healthcare strategy. Their dominance in data coupled with a broken legacy system (the US ranks last among 11 industrialized countries) create a ripe opportunity for a mega force like Amazon.
Everyone, especially marketers, is on a race to landgrab any data they can despite current regulations and policies impacting how data can be processed and stored. Having the most data gets you nowhere. It’s what you do with data where the magic really happens. Remember when “if you like this, then you will like this” came out? One of Amazon’s finest examples of data mining. It’s no wonder why I bought that charcoal face mask.