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Posted by Joachim Roski on December 19, 2014
Earlier this month, I gave a lecture about big data as a part of the Healthy Health Policy Lunch & Lecture Series sponsored by the Office of the President, the Office of Health Policy and Legislative Affairs, and the Center for Rehabilitation Research Using Large Datasets at the University of Texas. My discussion focused on the connection between millions to billions of records, countless sources of information and an ever-growing need to perform sophisticated analytics encompass what big data is all about.
Key elements of big data include:
For example, the amount of data available is exploding at an exponential rate. At the current rate of growth of digital information, it is estimated that by 2020, health care data worldwide will amount to 25,000 petabytes — 50 times what it is now.
The value of big data cannot be overstated as it has the potential to generate approximately $300 billion annually in the health care sector alone. From driving efficiency, ensuring quality, lowering health care costs and increasing customer satisfaction, big data is the next frontier. But how do we harness the potential benefits and value of big data in the health care sector? The answer lies in smart IT infrastructure such as data lakes and data clouds designed to make big data analytics possible.
We are already bringing big data innovations to our clients; for example:
Booz Allen continues to expand its expertise to forge the path forward in the area of big data analytics. It is because of our pioneering vision and expertise in translating our clients’ goals into action that we continuously are called upon as leaders in the big data field. For more information, you may be interested in an article that I co-authored with my colleague Booz Allen Vice President Tim Andrews, "Creating Value in Health Care through Data: Opportunities and Implications" which appeared in the July 2014 edition of the Health Affairs journal.
Editor’s Note: To learn more about how Booz Allen is transforming health care with big data, go to http://www.boozallen.com/insights/2014/07/transforming-health-care-with-big-data.