The pandemic is having an enormous impact on the healthcare sector. Between overwhelming hospitalization rates, intensifying cybersecurity threats, and an aggravating number of mental illnesses due to strict lockdown measures, hospitals are desperately searching for help. What is Big Data in Healthcare and How is it Used? Surely you will have a completely different view after reading our article.
The pandemic is having an enormous impact on the healthcare sector. Between overwhelming hospitalization rates, intensifying cybersecurity threats, and an aggravating number of mental illnesses due to strict lockdown measures, hospitals are desperately searching for help. Big data in healthcare seems like a viable solution. It can proactively provide meaningful, up-to-date information enabling clinics to address pressing issues and prepare for what’s coming.
Hospitals are increasingly turning to big data development service providers to make sense of their operational data. According to Healthcare Weekly, the global big data market in the healthcare industry is expected to reach $34.3 billion by 2022, growing at a CAGR of 22.1%.
So, what is the role of big data analytics in healthcare? Which challenges to expect? And how to set yourself up for success?
Big data has several accepted definitions. Here are two popular ones:
Douglas Laney’s definition. Laney is a former Chief Data Officer at Gartner. He states that big data is characterized by 3 Vs: volume, velocity, and variety. The volume stands for large amounts of data. Velocity refers to the speed of collecting data and making it accessible, while variety indicates the different types of data, such as text, video, logs, audio, etc.McKinsey’s definition. The renowned consulting firm defines big data as datasets whose size is beyond the ability of typical database software tools to capture, store, manage, and analyze.
According to an IDC report, the volume of big data is expected to reach 175 Zettabytes by 2025. To put it in perspective, it will take 1.8 billion years to download this amount of data with the average internet speed available nowadays.
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What is Big Data? What is Data Analytics? And What is the difference between Data Analytics and Big Data? Let's explore it with us now.
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