Did you know that 2.5 quintillion bytes of data are created daily?
In healthcare, big data is big business and there have even been countless articles dedicated to how harnessing it can improve healthcare. This may seem like an easy enough task but “the amount of data collected each day dwarfs human comprehension”.
According to an article written about Top 10 Innovations for 2012; “A leading management consulting firm recently estimated that if the United States healthcare industry were to effectively use the growing volume of big data to drive efficiency and quality, it would create more than $300 billion in value every year”.
Now, $300 billion is a huge number, but did you know that 2.5 quintillion bytes of data are created daily? Yes, QUINTILLION! Here’s another big number for you, of that 2.5 quintillion, 90% of data has been created in the last 2 years. All this data is referred to as big data, and according to a recent report; hospitals, medical centers, hospital systems, pharmaceutical, biotechnology and medical device companies are swamped in it. The problem is, not all of this valuable data has been systematically collected and stored.
“Therefore this information hasn’t been aggregated, analyzed or made available in a format to be readily accessed to improve healthcare”. This is where SIMUL8 would like to change things. If there’s a way that we can improve healthcare, we’re all for it. With goals of accelerating research and improving healthcare, we see simulation as being a solution to a big problem. So, the next frontier for us is to enable decision-support tools using simulation.
By using healthcare big data with a platform like simulation, “business can be run more effectively, and healthcare provided more economically”, and that, that’s what SIMUL8 Corporation is all about.