Big data analytics is playing a larger role in health care, and that is changing the way in which the industry is approaching patient care and research. A new report revealed that health care leaders believe big data will have a significant and positive impact on their businesses. The lessons that they are learning parallel the experiences of midsize firms as they seek to gain greater insight into the increasing amounts of data accumulated each day.

Big Data Good for Business

According to a new study by the Society of Actuaries (SOA), more than 87 percent of health care leaders said that big data will have an important impact on the business of health care. The results, featured in the CloudTimes, also found that 66 percent of leaders are happy about the potential of big data, and more than half believe that there is a business benefit to implementing big data in their information infrastructures.

The biggest hurdle cited by executives is to effectively apply big data to health care delivery. According to the report, the insight gained has been useful, but executives want to extract greater meaning from the data and to see more of an impact. The health care industry also faces the challenge of finding and hiring staff with expertise in the optimization of big data. There is a significant need for IT professionals with big data know-how, and the report found that 45 percent of health care companies are planning to hire energetically in 2014.

Midsize Insight

Applying big data analytics is a significant undertaking for any organization. IT professionals at midsize firms around the world, as also in the health care industry, are seeking solutions that make the most of the deluge of data with which they are confronted on a daily basis. As technologies such as the cloud and virtualization become commonplace, both structured and unstructured data will pile up as never before. For firms that want to remain at their most productive, big data solutions are a worthy investment.

Health care companies and midsize firms across industries value the security of their data. Health care data can be particularly sensitive, and certain compliance requirements need to be met. Most midsize firms cannot afford a data breach that could compromise their bottom line. Smart security measures targeted to a firm's specific needs are key to maintaining a big data solution that can empower executives to make more informed decisions.

The SOA study found that health care firms are struggling to recruit personnel to tackle big data projects, and midsize firms face similar struggles. Smaller companies have fewer resources, and they likely do not have the expert staff on hand to execute a big data implementation. As a result, they count on trusted partners to offer solutions that target their specific goals.

Midsize Demand

Small and midsize businesses (SMBs) benefit from partnering with a vendor that understands how their needs differ from those of enterprise. SMBs are constrained by limited resources, personnel and budget and cannot afford to make mistakes. As a result, they demand a quick return on investment (ROI). Midsize firms should implement well-researched methods to organize data and integrate analytics throughout their infrastructures.

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Big Data Analytics and Health Care Innovation