21st Century Learning and Teaching

Big data analytics is the process of examining large and varied data sets to uncover hidden patterns, unknown correlations, market trends, customer preferences and other useful information that can help organizations make more-informed business decisions.

Big data can be analysed for insights that lead to better decisions and strategic business moves. The Big Data market is expected to grow to $66.79 Billion by 2021, with investment in analytics hardware, software, services and data scientists pouring in.

WHAT ARE THE INFLUENCERS SAYING?

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Big data analytics can play a crucial role in helping patients get healthcare at a lower cost.

Today, healthcare costs are much higher than they should be and have been growing steadily over the past 20 years. In fact, according to a study by McKinsey, healthcare expenses represent nearly 17.6% of United States’ GDP. Due to the rising cost of healthcare, it’s time to look at smart, data-driven ideas.

From autonomous cars to Internet of Things, big data has percolated almost every industry. It’s no surprise that the healthcare industry, with its large amount of data, is on the verge of big data-driven transformation, perhaps more than any other field.

Healthcare analytics has the potential to reduce treatment costs, predict outbreak of epidemics as well as preventable diseases and improve the quality of life. Here are 5 examples of how big data analytics in healthcare can help save lives.

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