Three quarters of healthcare companies to invest in big data by 2021
pharmafile | February 9, 2017 | News story | Medical Communications, Research and Development | Big Data, analytics, clinical trials
The latest research by GBI Research suggests that there may be shift towards the use of big data and analytics in the next decade. We covered the potential for big data within the industry in a recent feature, and this research seems to back up the trend towards investing in the power of big data analytics to propel the industry forward.
The study assessed the opinions of 73 experts from within the pharmaceutical and healthcare industries, who had varying levels of big data involvement. 73% of those responded to suggest that they are beginning to look into involving big data or are already increasing their investment into systems within the next five years.
Arshad Ahad, Analyst for GBI Research, explains: “Advances in technology have led to an explosion in healthcare-related data generation. This data represents an invaluable resource, which can bring many commercial benefits to organizations if properly utilized and acted upon, although the fundamental properties of Big Data – its volume, velocity and variability – make this a challenging prospect”.
The report cites the decreasing costs of leveraging big data as one of the significant reasons behind the potential uptake; with the variety of different functions it can provide also a key reason. Big data can provide genome sequencing, it can also aid in the recruitment of clinical trials whilst aiding in finding clinical trial targets.
Ahad continues to make the assertion that big data can no longer be thought of as an abstract concept that could hold benefits in years to come. This is where companies’ interest will begin to be piqued, as they begin to worry that competitors may already be getting a foot on the ladder and therefore a competitive advantage. This will undoubtedly see more money poured into big data ventures that will only result in the actual systems improving in correspondence.
Ben Hargreaves
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