The market for big data and analytics, especially in the healthcare field, is expected to grow at a rate (CAGR) of +19% between now and 2025. Digital Journal brought this interesting news to our attention in their article, “Big Data Analytics in Healthcare Market 2019 Flourishing and Set to Reach $60 Billion by 2025: Microsoft, Oracle, Cisco Systems, SAS Institute, IBM Corporation.”
Big data analytics is the often complex process of examining large and varied data sets, i.e. big data, to uncover information including hidden patterns, unknown correlations, market trends, and customer preferences that can help organizations make informed business decisions.
Big data analytics is a form of advanced analytics, which involves complex applications with elements such as predictive models, statistical algorithms, and “what if” analysis powered by high-performance analytics systems.
Unstructured and semi-structured data types do not always fit well in traditional data warehouses that are based on relational databases, oriented to structured data sets. Increased healthcare regulatory compliance and demand for data analytics solutions for population healthcare is a driving force for the growth of global big data analysis in the medical market.
Melody K. Smith
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