Tim Czartoski on big data
From The Usefulness of Technology – A Perspective from Industry by Tim Czartoski · · Anterior Hip Foundation
“90 percent of big data projects fail because there's not a good definition of what data is needed and what the use case is and what you want to accomplish. So when you think about technology, you have to zone in on what's important.”
On , Tim Czartoski, President of U.S. Surgical and Global Product & Enabling Technologies at ENOVIS CORP, spoke about big data during The Usefulness of Technology – A Perspective from Industry by Tim Czartoski on Anterior Hip Foundation.
About Tim Czartoski
Tim Czartoski, president of U.S. Surgical and Global Product & Enabling Technologies at Enovis, delivered a talk in September 2022 at the AHF conference titled "The Usefulness of Technology – A Perspective from Industry." During the presentation, he discussed how companies evaluate and invest in medical technology. He noted that the price of technology tends to decrease over time, using the example of a Toyota Camry whose cost remained around $21,000 over 20 years despite significant digital upgrades. Czartoski stated that traditional valuation models like discounted cash flow are inadequate for technology because indirect returns are difficult to predict, and companies must instead place bets on which technologies will shift the "s-curve" of innovation. Czartoski also addressed challenges related to data in healthcare. He said that 90 percent of big data projects fail due to a lack of clear definitions for data needs and use cases. He emphasized the importance of data integrity, security, and patient ownership of data, and noted that regulatory pathways through the FDA remain a challenge. He described Johnson & Johnson's approach to innovation as relying on an open platform that includes global innovation centers