Big Data and Analytics for Healthcare

In this article, you’ll find great trends and benchmarks on big data and analytics for health care. It will dive into a discussion of patient data, Business Intelligence, wearable devices, predictive analytics, data scientists, and more. You’ll also be able to download the full PDF white paper.

“By 2020, information will be used to reinvent, digitalize or eliminate 80% of business processes and products from a decade earlier.” –Gartner, 2015

The Future for Healthcare is Collecting and Managing Data

A shift in our data paradigm is occurring. We are shifting to a mode where real-time data from many points can be accessed, understood, and taken action upon immediately and easily.

At the same time, consumer-driven data is becoming an increasing component of the patient picture. The sources of data, who controls the data, and who can access the data are all shifting in a revolutionary way.

  • How do organizations manage vast amounts of data?
  • How do decision-makers separate what is important from the clutter?
  • How do administrators streamline future operations based on emerging trends?
  • How do we all better serve our customers and patients?
  • What questions can wearable devices answer for the decision makers?

“Over two-thirds of healthcare decision makers consider analytics among their top 3 priorities, with the rise of healthcare costs being the biggest factor.” –CDW Healthcare

While we are undergoing massive change, this data will be key to next level performance. When expertly stored, accessed, and available:

  • It enables decision making for healthcare professionals
  • It saves time in validating the healthcare professional’s decisions
  • It decreases errors and improves outcomes by providing the right patient data
  • It reduces overhead and improves communication through integrated patient and physician portals
  • And much more…

Healthcare Data Changes

Clinical Benefits of Predictive Analytics

  • 62% improved overall health outcomes
  • 63% reduced remission rate
  • 82% improved patient care

Healthcare Provider Operational Benefits of Analytics

  • 50% improved hospital operational improvement
  • 54% improved financial reporting capabilities
  • 49% improved management decision making

*CDW Healthcare

Healthcare Data Analytics Stats

Wearable Device and Data Trends

Wearable technology is fast becoming a major source of health and behavioral data that is consumer-driven. Always on, always measured data.

  • Heart rate
  • Activity levels and patterns
  • Sleep patterns
  • Sit/stand rates
  • Much more

“The market for smart watches alone is expected to grow by 10x in the next 5 years.” –Forbes

Wearable technology will continue to improve and expand its health sensors, delivering both more accurate information and more types of information. This technology will also become ubiquitous, expanding to clothing, inconspicuous monitors, and skin patches that will capture data across the body.

In a Forrester Research survey of 3,000 global technology and business decision-makers, 68% said that wearables are a priority for their company, with 51% calling it a moderate, high, or critical priority.

Big Data and Business Intelligence for Healthcare

With data sources expanding, gaining insights remains a major challenge, yet one of the largest opportunities for companies. Health businesses now understand that a successful Data Architecture strategy is pivotal to success.

By 2017, more than 30% of enterprise access to broadly based big data will be via intermediary data broker services. –Gartner, 2015

The right architecture ensures:

  • Predictive capability
  • High availability
  • Patient and consumer engagement
  • Ready access
  • Data completeness
  • Effective data management
  • Accurate data
  • Security
  • Scalability

Data Scientists in Healthcare

The Data Scientist role is critical for organizations looking to extract insight from information assets for “big data” initiatives and requires a broad combination of skills that may be fulfilled better as a team. Analytical and decision modeling skills are required for discovering relationships within data and detecting patterns. Data management skills are required to build the relevant dataset used for the analysis. –Gartner 2015

Data Scientists help your organization achieve a vision of taking data from different source, harnessing what is relevant and analyzing it to find answers to enable:

  • Better and Faster Decisions
  • Improved Patient Care
  • Trend Across Different Components of Healthcare
  • Cost Optimization

Next steps

BETSOL White Paper - Big Data and Analytics for Healthcare
BETSOL White Paper – Big Data and Analytics for Healthcare

 


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