Big Data for Healthcare

Running head: BIG DATA FOR HEALTHCARE
Big Data for Healthcare
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BIG DATA FOR HEALTHCARE
Executive Summary
The major aim of the report is to know about the entire concept of big data within healthcare
industry. Big data analytics are responsible for ingesting, correlating as well as analysis of
incoming data. The data set eventually grows rapidly as these data could be gathered by
several cheaper as well as information sensing devices of IoT like software logs, RFID
readers, wireless network, mobile devices and many more. Big data has provided several
significant applications to healthcare for dealing with the complexities and issues and hence
is termed as one of the most efficient technology. This report has clearly demonstrated about
various aspects of the technology of big data within health care industry with subsequent
value chain analysis as well as five force analyses of Porter.

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BIG DATA FOR HEALTHCARE
Table of Contents
1. Introduction............................................................................................................................3
2. Discussion..............................................................................................................................3
2.1 Big Data Opportunities in Health Care............................................................................3
2.2 Value Creation using Big Data Technology in Health Care............................................5
2.3 Porter’s Value Chain Analysis of Big Data Health Care.................................................7
2.4 Porter’s Five Forces Analysis of Big Data Health Care..................................................9
3. Conclusion............................................................................................................................11
References................................................................................................................................12

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BIG DATA FOR HEALTHCARE
1. Introduction
Big data refers to an evolving technology, which describes about larger volumes of
structured and even unstructured data. This technology comprises of the core potentials for
being mined to obtain information and hence it is being used within machine learning
application or other advanced application of analytics (Raghupathi & Raghupathi, 2014).
This big data is even being featured by 3Vs, which would be velocity, volume and variety of
data. Volume refers to dealing with extreme volume of data, whereas variety is the total
number of types of data and finally velocity can be stated as the high speed to deal with
processing of data. According to the model of 3V, various significant problems or issues
related to management of big data could eventually result from the mere expansion of all of
these properties.
The major challenges of big data mainly involve capturing of data, analysis of data,
transferring of data, information privacy, querying, visualization and many more. The current
usage of big data subsequently refers to utilization of predictive analytics, advanced data
analytics and even user behaviour analytics (Murdoch & Detsky, 2013). This technology is
used in several sectors like marketing, health care, finance, manufacturing,
telecommunications, retailing, insurance and travel. The following report outlines a brief
discussion on big data for health care sector for dealing with opportunities of this big data
technology, creation of value with the help of this technology, value chain analysis as well as
five force analyses of Porter with relevant details.
2. Discussion
2.1 Big Data Opportunities in Health Care
There are immense and complicated data sets that provide several advantages to any
sector for management of vast data amount (Groves, Kayyali, Knott & Kuiken, 2016).