Health Sector in Europe is sitting on the cusp of a revolution with coming of big data analytics in healthcare sector

Rajat Khare deeptech investments in big data analytics companies is leading their research in data analytics solutions and big data analytics in healthcare

Big data, especially from new data sources, is simply a term for larger, more complex data collections. These data sets are so large that they just cannot be handled by conventional data processing software. However, these enormous amounts of data can be leveraged to solve business issues that were previously impossible to solve. The basic outline of big data analytics solutions coupled with deeptech is that it contains the ability to take in a greater variety of data, can deal with its increasing volumes, and process it with more efficiency than what humans with limited abilities can undertake to manage.

Although the concept of big data applications itself is relatively new, the origins of large data sets go back to the 1960s and ‘70s when the world of data was just getting started with the first data centers and the development of the relational database.

Big data applications are used quite significantly in many sectors like infrastructure, healthcare, higher education, etc. For example, The University of Tasmania. An Australian university with over 26000 students has deployed a Learning and Management System that tracks, among other things, when a student logs onto the system, how much time is spent on different pages in the system, as well as the overall progress of a student over time. That system can analyze it very easily and eases up the load on the clerical staff of the University.

The term “big data” in the context of healthcare refers to the enormous amounts of information produced by the use of digital technology for the collection of patient records and the management of hospital performance that would otherwise be too large and complex for conventional technologies.

Big data applications in healthcare have a lot of beneficial and even life-saving effects. Big data, in its simplest form, is the enormous amounts of data generated by the digitization of everything related to the patients that are then collected and processed by a particular technology. When used in healthcare, it will make use of precise health information about a population (or about a specific person) and could assist to stop epidemics, treating diseases, lowering treatment costs, etc.

The increased usage of information technologies was driven by the need for remote medical consultation as the new norm, which was also reflected by the increased development of healthcare mobile applications by the IT industry.

One can learn new things by using larger data sets. To ensure continuous project investments and finance, it is crucial to base new investments in skills, organization, or infrastructure on a solid business-driven context. Ask how big data supports and enables your main business and IT priorities to find out if you are on the right track. Statistical correlation methods and their applicability to the customer, product, manufacturing, and engineering data are some examples. Other techniques include understanding how to filter web logs to understand e-commerce behavior, determining sentiment from social media and customer support interactions, and many more.

We have already recognized Rajat Khare deeptech investments in healthcare as one of the biggest business intelligence trends for quite some time, but the potential applications reach far beyond business and much further into the future. Optum Labs, a US research collaborative, has collected Electronic Health Records (EHRs) of over 30 million patients to create a database for predictive analytics tools that will improve the delivery of patient care.

There is a great deal of churning going on in this sector, which will have a great number of implications for the future of the health sector in the coming future. Venture Capitalist firms like Boundary Holding, founded by Rajat Khare, headquartered in Luxembourg, is leading the investments in the deep tech AI, machine learning and big data in the health sector companies in Europe. Their investments in companies like Remidio, Japet, etc are a testimonial to the kind of trajectory that the future of big data applications in the health sector holds for humanity at large.

But all this future is not foolproof, a huge amount of data being shared online presents risks of its own. 93% of healthcare firms, according to some research, have had a data breach. The explanation is straightforward: On the black market, personal information is very profitable and precious. And any breach would have grave repercussions. In light of this, many firms have begun to utilize analytics to detect changes in network traffic or any other behavior that can indicate a cyber-attack and help prevent security issues. Big data has security challenges by nature, and many believe that adopting it will make enterprises even more vulnerable. However, security advancements like firewalls, antivirus software, and encryption technologies address the demand for more security, and the advantages far outweigh the hazards.

There are quite a few companies that are functioning in the big data application in the European market. Big data analytics companies like IQVIA are doing a great job in big data applications in the health sector. From genomics to AI and ML in the health sector, big data application is very wide and far-reaching. Good thing is that people like Rajat Khare Luxembourg are taking a keen interest in deep tech and are coming up to invest in the deeptech and are more than ready to fund these ventures as well.

This is going to be a great era for the 21st Century that will see a great amount of big data applications in the various domains of human society. Data analytics is also useful in protecting the marine biology of the earth as well. Humanity is poised to leap the new trajectory of utilizing big data analytics in sectors like healthcare, infrastructure, education, etc. This will see more and more companies coming up and making mainstream the solutions that are ideal and cost-effective, in the end enabling the world at large to uplift humanity at large. Big data analytics companies providing data analytics solutions are going to have a good market valuation in the coming times, which is an incentive for others to participate in the sector keeping in mind the prospects of this industry.