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Big Data Analytics Enhancing Decision Making Capacity of Healthcare Enterprises
Big data analytics has paved a new path for healthcare organizations to devise actionable insights, boost up the outcomes, reduce time to value, and organize their future vision. This approach has been deemed helpful in providing insightful information to healthcare enterprises with regard to their planning, measurements, and management. The evaluated results further help in enhancing decision making capacity of these enterprises.
By recording disease outbreaks and analyzing disease patterns, big data analytics approach can improve public health issues. Large quantity of data help in determining needs, offering required services, and predicting & preventing future crises. Big data analytics approach also helps in evaluating standard medical data, structured or unstructured, for predicting patients at risk and providing them with effective care.
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Drive toward electronic medical records, coupled with favorable government policies has further driven the adoption of big data analytics in healthcare sector. However, majority of medical professionals lack the skill set needed for leveraging information offered by the big data analytics, which continues to be a major restraint for growth of the market. Government and healthcare organizations are therefore focusing on proper training of professionals for making them capable of utilizing the data obtained in a meaningful manner for better drafting of healthcare policies and improving patient outcomes.
Fact.MR’s recently compiled report estimates the global market for big data analytics in healthcare to register an outstanding expansion during the forecast period (2017-2026). Revenues from global sales of big data analytics in healthcare sector are estimated to exceed US$ 45,000 Mn by 2026-end.
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APEJ to be Fastest Expanding Market for Big Data Analytics in Healthcare during 2017-2026
Asia-Pacific excluding Japan (APEJ) is expected to remain the fast-expanding market for big data analytics in healthcare. North America is also expected to showcase a promising growth in the market, which can be mainly attributed to big data initiatives of the federal government. Initiatives such as HITECH Act are promoting big data and reducing healthcare expenses in North America. Europe will also account for a major portion of the market’s revenue share during the forecast period.
