Big data is transforming the world in numerous ways. Many industries changed when analysts and marketers starting collecting data from online interactions. The BBC details how all digital interactions can now be translated into data, which can be used to understand precisely what consumers want and need. These interactions can range from Facebook status updates, tweets, emails, and messages. One of the biggest battlegrounds for big data is happening in the healthcare industry.
Healthcare companies are now competing to introduce the latest developments. These include improvements to services, care, and creating a uniformed database that will improve the development of medicine. A medical researcher can harness the information from big data, and use it to form new strategies that can help create new products and policies that will improve the industry.
CIO lists several companies that are great examples of corporations using data to their advantage. Innoplexus has developed a product that is designed to help increase access to insights that were otherwise unattainable. They use the valuable data they have acquired to help speed up the development of new drugs, assess the potential performance of a new drug, and accurately assess the performance of healthcare professionals.
Imprivata is another great example. They are working with healthcare organizations to make sure patient information is shared between healthcare professionals through a secure digital channel. The Health Insurance Portability and Accountability Act (HIPAA) emphasizes the importance of patient privacy, which means it’s absolutely essential for healthcare providers to make sure they have a secure digital tool for data analysis. Imprivata makes sure the solutions they provide can prevent putting patient data at risk, as well as costly data breaches.
Health Analytics states that other healthcare organizations are combining artificial intelligence and blockchain, to create effective data management capabilities. For example, blockchain is an inherently secure technology that creates unchangeable records of transactions. It is an essential tool that can help the healthcare industry study trends based on patient records without compromising the safety of personal information. Add artificial intelligence to that and you get a very useful tool that can help improve patient care. Blockchain can also help healthcare organizations to validate results of artificial intelligence.
Machine learning through big data can assist medical researchers keep track of important audit trails. This will help them take note of the evolution of patient care and create the necessary adjustments and improvements.
Here on John Snow Labs we strongly believe data science is a critical component of today’s healthcare industry. The growing popularity of wearable gadgets, personalized monitoring devices, and smartphone applications that can track daily health indicators, encouraged hospital systems to replace their paper records with electronic medical records. This helps them collect and analyze data that is essential for increasing the effectiveness of diagnosing and treating diseases.
Exponential advances in data science have radically transformed other industries as well. Apart from helping improve the healthcare industry as a whole, big data is also changing the way subjects that can be related to healthcare are being taught at degree level. Data science has pushed students to look for new ways to prepare themselves for the future workforce. An overview of Maryville University’s business analytics degree outlines that the global revenue from big data will rise from $130 billion in 2016 to more than $200 billion by 2020. This huge leap is creating many opportunities for analysts in industries like healthcare.
Big data is not only taking the healthcare industries by storm by revolutionizing how they create new healthcare programs and policies. It has also started trickling down into other industries where insights and data are available—all of which aim to improve how you get the services you need.
Feature solely authored for johnsnowlabs.com by TheTechieEnthusiast