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Opportunities of Big Data in the Healthcare Industry

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In this assessment, you are required to choose one of the following businesses: Healthcare, Insurance, Retailing, Marketing, Finance, Human Resources, Manufacturing, Telecommunications, and Travel. You will need to prepare a report on how Big Data could create opportunities and help value creation process for your chosen business. Your target audience is executive business people who have extensive business experience but limited knowledge. They would like to be informed as to how new Big Data technologies might be beneficial to their business. Please note that a standard report structure, ...

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Question Preview:

In this assessment, you are required to choose one of the following businesses: Healthcare, Insurance, Retailing, Marketing, Finance, Human Resources, Manufacturing, Telecommunications, and Travel. You will need to prepare a report on how Big Data could create opportunities and help value creation process for your chosen business. Your target audience is executive business people who have extensive business experience but limited knowledge. They would like to be informed as to how new Big Data technologies might be beneficial to their business. Please note that a standard report structure, including an executive summary, must be adhered to. 1. Big Data Opportunities 2. Value Creation using Big Data 3. Porter’s Value Chain Analysis 4. Porter’s Five Forces Analysis

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Big data is a concept that is used to collect the voluminous data in a fast and effective way and after that processing all the collected data for further business analytics and reporting purposes. This paper is about the use of Big data concept in the healthcare industry and how healthcare provider can use the big data for the analytics and how healthcare provider can predict the future trend.

“Big data is an opportunity for businesses to be more thorough in the way they analyze and understand the world”(D’angelo, 2018). Big data in the healthcare industry can be specific to the particular healthcare provider or various healthcare providers can join the hand and collectively implement the big data and share data so that combined big data report or analytics can be done.

It is evident from the analysis that big data and analytics is a big breakthrough in the healthcare industry which provides the opportunity to the healthcare provider to work in a collaborative way to treat the patient. With the help of the Big data, the huge volume of the data can be stored and it can be ensured that patients are to get the proper treatment and treating healthcare provider have all the history of the patient care.

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