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ARTICLE · 09 JANUARY 2015

Big Data And Healthcare

Charles Russell Speechlys LLP
Charles Russell Speechlys LLP
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Charles Russell Speechlys LLP

Charles Russell Speechlys LLP

Charles Russell Speechlys is an international law firm with a focus on private capital, at the...

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Big data, the art and science of combining multiple sources of information about specific targets or sectors, is only of value when big analytics are utilised.

United KingdomMedia, Telecoms, IT, Entertainment

In 2012 Gartner reported "big data will deliver transformational benefits to enterprises within 2 to 5 years, and by 2015, will enable enterprises adopting this technology to outperform competitors by 20% in every available financial metric."

Big data, the art and science of combining multiple sources of information about specific targets or sectors from which to then draw value added outcomes is only of value when big analytics are utilised.

Simply amassing large volumes of data including personal data does not of itself add value. It is only when good analytics are applied to the data sets and databases that real value can be extracted.

In the healthcare and life sciences sectors big analytics is already producing results for the industry and patients alike. In their 2014 report titled "Order from Chaos" EY explained that when destructive consumer technology, personalised medicine, big analytics, maturing capabilities of cloud computing and healthcare cost

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