With 2020’s global pandemic from COVID-19 in a rush to develop disease prevention,has had a substantial increase inability to track the spread of the virus and give insight into patterns of the pathogen.
Whilst some indicators are uncertain and vulnerable in the early stages of analysing the data, the ongoing steps thatplays is an important role in developing strategies and forecasting upcoming impact on a global scale.
Having an Impact
Whilst the world is reeling daily in unsettling and ever-increasing unease pertaining to outbreak updates, efforts to predict the path of the virus and its effects on the world is at the heart of big data.
Healthcare officials and scientific study are gaining invaluable aid from the pulling of data from real-time trackers worldwide that are continuously at work to provide information vital to the combat of the disease.
Vital factors that are examined include reports of the region’s compliance with social distancing by way of pulling data through GPS analysis. With a focus on the population of each city or region, big data is at the forefront of identifying lack of compliance and potential increases of pandemic worldwide.
Whilst the use of big data in relation to identifying a potential cure is still in its infancy, potential of pulling data through real-world evidence can aid in treatment development for patients currently being identified as suffering with the virus.
With the current climate, big data analytics in Healthcare is expected to expand at a CAGR of 18.6% according to Goldstein Market intelligence over a forecast period at a value of USD 68.20 billion. An increase from its 2017 value of USD 16.90 billion.
North America stands to dominate the big data healthcare market with Europe not far behind. This is factored in by the sudden increase of demand for patent informational analytical models and IoT advancements.
Financial Analytics in Healthcare
With worldwide data being generated and collated through various organisations daily, there is a surge in interest in analytical data for financial fields.
This focus on structured and unstructured data that already exists such as declining costs as well as accessibility within big data software. With substantial ground being taken in the fields of medical diagnosis within imaging data in medicine as well as the quantification of lifestyle data for fitness, the potential for big data analytics in the fields, big data can play a huge role in forecasting cash flow and optimising collections from determining which outstanding patient accounts are the most likely to be settled.
Departments involved in collections can utilise the criteria to determine a high ROI on collection time.
Helping the Prevention
within healthcare can give medical personnel an advantage on treating illness by drawing a comprehensive report on a client’s existing health as well as a platform to aid doctors in data-driven decisions on patient care.
With the collation of big data analytics, hospitals are able to identify if a patient has visited different hospitals and has been given treatment or advice from a caseworker as well as any test results undertaken.