Do you know how much data is created every day? We surely do not have an exact number for this. All the big companies like Google and Facebook must have so much data that we cannot even fathom.
According
to a study, the data generated at the dawn of 2020 is estimated to be 44
zettabytes. By the year 2023, each day 463 exabytes of data will be generated
globally from which big companies like Google, Amazon, Facebook, and Microsoft
will store at least 1,200 petabytes of information.
Today,
the usage of IoT (Internet of Things) devices are booming, and study states that
by 2025 there would be around 75 billion of these devices.
According to approximately 30% of the world’s data volume is being generated by the
healthcare industry. By the year 2025, the compound annual growth rate of
data for healthcare will be 36% which will be 11% faster than media &
entertainment, 10% faster than financial services, and 6% faster than manufacturing.
In
today’s world data is no longer stored in books or registers. Every individual’s
picture, location, browsing history, emails, apps downloaded on the phone, advertisement
choices, shopping behavior, and even health records are stored online and
recorded. No information is anonymous
anymore. All this data that cannot be
calculated amounts to ‘big data'.
Data
that exceeds the processing capabilities of traditional database systems is
referred to as big data. The data is either too large, moves too quickly, or does
not adhere to the constraints of your database structures. You must find a
different method of processing this data in order to extract value from it.
Big
data has fast become critical for practically every operational and clinical
activity in the healthcare industry, including population health management,
quality benchmarking, revenue cycle management, predictive analytics, and
clinical decision support.
Big
data in healthcare refers to vast amounts of data generated by the adoption of
digital technology that collects patient records and aid in the management of
hospital performance, which would otherwise be too large and complex for
traditional technologies.
In
terms of operations, big data in healthcare aids in the analysis of manpower
demands, financials, and resource allocation. Clinicians can provide improved
patient care for high-risk patients by tracking symptoms and developing
preventive care plans.
It
has become feasible as cost-effective methods for taming the volume, velocity,
and variability of big data have evolved.
The
fundamental attraction of big data analytics is the value received from the
ability to process enormous amounts of data.
The amount of the data sets
that need to be evaluated and processed, which are today frequently larger than
terabytes and petabytes, is referred to as data volume. The sheer volume of
data necessitates processing solutions that are separate from standard storage
and processing capabilities. To put it another way, the data sets in Big Data
are too enormous to be processed by a standard laptop or desktop CPU.
These
huge volumes of data call for scalable storage and an approach that is
distributed to querying. All the companies and businesses globally have large
amounts of data that is archived, in logs and do not have the capacity to
process it.
When we talk about big data there are 5 V’s which are Volume, Velocity, Variety, Veracity, and Value. When we talk about data in exabytes which is almost in incomprehensible proportions we are referring to the 1st V which is Volume.
In
the healthcare industry when we refer to the volume of big data, it encompasses all
the data that gets recorded before a diagnosis, during the diagnosis, and also
after the diagnosis. This includes health records of a patient, lab tests, results
of medical tests, data recorded in medical devices, and even daily transactions
at the hospital. We also have health-related IoT apps and device which also
stores a lot of data.
There
an industry like the health and fitness industry requires technologies and
machine learning to process this huge amount of data in an efficient manner.
To
deep dive into the volume of data in the health care industry, we can start with
the main components of this system which are 1. Doctors 2. Hospitals and
Diagnosis centers and 3. Financial Institution. Further, we have various types
of doctors treating a range of health concerns and similarly goes for hospitals
and centers. When there is such a diversity in healthcare, at every level
different kind of data is collected and recorded. Earlier all this data was
easy to maintain in excel sheets and even manually but now with the increase in population,
new technologies in healthcare, everyday research for finding cures it is not
at all easy to maintain this data.
Digitizing
all this data has made it way easier and easy to access. When this data is
leveraged using data analytics and machine learning better outcomes can be
provided for patients like faster diagnosis, timely treatment, increase in
productivity, better treatments which will all in turn increase the success rate in
treatments and improve health for all.
From
this volume of data comes managing this data. The process of storing,
safeguarding, and evaluating data gathered from various sources is known as
healthcare data management. Health systems may construct comprehensive views of
patients, customize treatments, increase communication, and improve health outcomes
by managing the vast amount of available healthcare data.
More
companies will collect a wider range of health-related data and integrate it to
develop new insights that can improve patient health as Health Data Management
advances.
Author: Akshita Ashokan
#healthcare
#bigdata #volumedatastorage #volumebigdata #5vsofbigdata #bigdatainhealthcare #datainhealthcare
References:
Gewirtz, D., 2018. Volume, velocity, and variety: Understanding the three V's of big data. [online] ZDNet. Available at: <https://www.zdnet.com/article/volume-velocity-and-variety-understanding-the-three-vs-of-big-data/> [Accessed 1 March 2022].
Media, O., 2022. Volume, Velocity, Variety: What You Need to Know About Big Data. [online] Forbes. Available at: <https://www.forbes.com/sites/oreillymedia/2012/01/19/volume-velocity-variety-what-you-need-to-know-about-big-data/?sh=3afa0f201b6d> [Accessed 6 March 2022].
Bresnick, J., 2017. Understanding the Many V’s of Healthcare Big Data Analytics. [online] Health It Analytics. Available at: <https://healthitanalytics.com/news/understanding-the-many-vs-of-healthcare-big-data-analytics> [Accessed 3 March 2022].
SeedScientific. 2022. How Much Data Is Created Every Day? [27 Powerful Stats] | SeedScientific. [online] Available at: <https://seedscientific.com/how-much-data-is-created-every-day/#:~:text=Every%20day%2C%20we%20create%20roughly%202.5%20quintillion%20bytes%20of%20data> [Accessed 6 March 2022].
Rbccm.com. 2022. RBC Capital Markets | Navigating the Changing Face of Healthcare Episode. [online] Available at: <https://www.rbccm.com/en/gib/healthcare/episode/the_healthcare_data_explosion> [Accessed 6 March 2022].
2020. 18 Examples Of Big Data Analytics In Healthcare That Can Save People. [image] Available at: <https://www.datapine.com/blog/big-data-examples-in-healthcare/> [Accessed 3 March 2022].
Learn more about the other V of Big Data - Velocity. Click on the link below :
Velocity : Data processing in healthcare and fitness (weeegotyou.blogspot.com)
Very nicely written!! Highly impressed by the way you have spoken so well about the volume data storage in the healthcare industry. Currently, a digital revolution is occurring in healthcare, all around the world and it is believed that data management will become an even bigger asset. Every passing second, an exponential amount of healthcare data is being generated as well as mined for valuable insight. In fact, healthcare is soon looking into pivoting from treatment to prevention, which I believe is of utmost importance, especially with regards to the times that we are living in. Keep up the good work!
ReplyDeleteExceptionally well written!! I'm very impressed with how well you write about volume data storage in the healthcare industry. A digital revolution is currently taking place in healthcare all around the world, and it is expected that data management will become an even more valuable asset. Big data in healthcare refers to vast amounts of data generated by the adoption of digital technology that collects patient records and aid in the management of hospital performance, Every second, an ever-increasing amount of healthcare data is collected and analyzed for useful information. Indeed, healthcare is rapidly shifting its focus from treatment to prevention, which I believe is critical, particularly in light of the times we live in. Keep up the excellent work!
ReplyDeleteHealthcare is one of the industries that has benefited the most from digital change. A lot of tasks that were once difficult to manage manually, such as Population Health Management, maintaining the details of a patient's medical history, maintaining hospital records, and much more, are now handled quickly by technology. However, as businesses become more reliant on digital operations, massive amounts of data are generated at a rapid rate and in massive volumes. This site has done an excellent job of discussing volume data storage, which is a topic that is frequently overlooked. Well done!
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