Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
    big data and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
    data driven insights
    How Data-Driven Insights Are Addressing Gaps in Patient Communication and Equity
    8 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Health Care Analytics Market Will Grow Considerably in 2014
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Analytics > Health Care Analytics Market Will Grow Considerably in 2014
Analytics

Health Care Analytics Market Will Grow Considerably in 2014

Roman Vladimirov
Roman Vladimirov
4 Min Read
Image
SHARE

ImageAs a whole sector, the field of health care has found a great deal of uses for big data and analytics initiatives.

ImageAs a whole sector, the field of health care has found a great deal of uses for big data and analytics initiatives. Hospitals, clinics, medical research centers, insurance providers and countless others connected to the industry in one way or another can all use business intelligence and analytics software platforms for many purposes. Particularly given the rising popularity of electronic health record (EHR) systems, data solutions play a major role in health care and are only poised to have greater influence in the foreseeable future.

According to iHealthBeat, MarketsandMarkets recently released a report on the possibilities for financial growth within the global health care analytics market over the course of the next few years. Based on these findings, those within the industry can expect to do well. Administrative and IT staffers at health care organizations would be wise to review this information if they have not undertaken a big data analytics initiative or are on the fence about doing so.

Major expansion expected by 2020
As outlined in the MarketsandMarkets report, the next six years – between 2014 and 2020 – are expected to feature a compound annual growth rate of more than 25 percent for the global health care analytics market. The present value of the industry is about $4.4. billion, so if those predictions for its growth end up being true, that figure will reach a total of approximately $21 billion by the time 2020 rolls around.

More Read

data analytics in strategic financial planning
The Evolving Role of Analytics in Strategic Financial Management
New Media Quizzes, Surveys, and Games: Business Analytics Opportunities
Data Mining Fundamentals: Terms You Must Know
Information Management Technology Revolution and Research Agenda for 2012
Analytics skills in demand – and analytics pros demanding top salaries

It is important to note that there may be certain roadblocks to the projected growth. Some of these factors may include a need for skilled analytics professionals that may not be easily filled, the ever-present issue of data security and reluctance among some in the industry to have full faith in the possibilities of big data. 

Conversely, other factors mentioned in the report are likely to assist with expansion of the market. These include the increasing adoption of EHRs, meaningful use and ICD-10 protocols in the United States, the rise of predictive analytics and continuing technical advances. 

Other elements to consider
Those who are planning to adopt health care analytics and BI solutions in the near future should also keep in mind recent advice from Forbes. For example, the news source stated that costs must be taken into account – 80 percent of them will be analytics, while the remaining 20 percent pertain to acquiring the data and delivering it through proper channels.

Additionally, it’s necessary to pay attention to access. On one hand, C-level personnel need to be fully aware of and involved in data analytics projects. On the other, they must be extremely careful with it in the health care arena, to maintain compliance with privacy regulations.

TAGGED:health
Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

data analytics and truck accident claims
How Data Analytics Reduces Truck Accidents and Speeds Up Claims
Analytics Big Data Exclusive
predictive analytics for interior designers
Interior Designers Boost Profits with Predictive Analytics
Analytics Exclusive Predictive Analytics
big data and cybercrime
Stopping Lateral Movement in a Data-Heavy, Edge-First World
Big Data Exclusive
AI and data mining
What the Rise of AI Web Scrapers Means for Data Teams
Artificial Intelligence Big Data Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

The Body as a Source of Big Data [INFOGRAPHIC]

1 Min Read

An app ecosystem for health

2 Min Read

Denver Broncos and Olympians Go Digital

4 Min Read

Smarter Data Create Healthier Populations

21 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence
giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?