How Big Data is Impacting Businesses in 2019

Big data can be a frightening term due to its perpetually changing nature. The impact of big data is palpable in day-to-day business, however, this blog will cover the importance of incorporating big data in a few fields - especially how we at Code Authority have contributed to it.

Big Data in Healthcare

Three targets of big data in the healthcare field revolve around data availability, government regulations, and quality of care.

Data Availability

Sharing health records across digital information systems is often restricted between organizations. Patients and their providers end up filling out paperwork and digital charts in the time they could be addressing the problems they’re there for.

Big data is changing the way healthcare systems utilize information for improving patient experiences. The data availability of healthcare related information can provide professionals with process insights on improving the systems in place at doctors offices and hospitals.

Government Regulations

The U.S. government regulates healthcare in a variety of ways. HIPAA is a popular regulation that keeps patients’ medical information protected. Everyone utilizing healthcare services are entitled to HIPAA protection, so there is a lot of data involved with the nationwide privacy act.

So, there are limits on what can be systematically extracted from the healthcare information. But, big data is helpful in processing the useful information not regulated by the government such as referral materials, appointment information and so on.

Quality of Care

Personalized care is expected of healthcare professionals today. According to Forbes, patients want individualized service for their health concerns. Medical professionals have the expertise needed to diagnose health problems, but the delivery of that care is the concern of the patients.

Big data can aid professionals in understanding feedback from patients necessary for internal changes and policy management. In turn, the healthcare system is benefitted, as well as the patients because of an improved patient experience.

Big Data in Sports

Most major professional sports leagues have embraced data analytics; through cameras following pattern recognition, stats being recorded across seasons to compare performance, and boosting spectator interaction. This not only occurs at the professional level but even all the way down to high school.

Athletes

Improved performance is at the forefront of almost every athletes’ mind. The competitors can gain an edge over the competition by analyzing big data with training and performance insights.

Athletes can rely on the information big data provides to set goals and keep track of progress. They can monitor how much time is spent exercising, how efficient the exercises are, etc. Then, when the big day comes, big data can tell the athlete if those exercises impacted their gameday performance.

Not only does big data aid athletes in understanding their own limitations and abilities, it also provides insight into their competition. Through film-study and analytics, teams can understand tendencies, strengths, and weaknesses of their opponents to give them a competitive advantage.

Fans

Not only does big data revolutionize the way athletes experience the game but it also impacts their biggest fans. Sports betting is a $250 billion industry worldwide. Given the sheer volume of opportunities it's no surprise that analytics and big data are used every day to hedge bets for bettors.

Fantasy sports is another area where fans utilize big data in their day-to-day operations and strategy. With over 60 million players, draft strategies, lineup adjustments, etc. are dependent on big data to make the most logical and opportune choices. Startups such as DraftKings and FanDuel have flourished under this scope.

Owners & Coaches

Owners, coaches, and other business associates are also interested in big data. They want to know what makes what they own better than their competition. What better way to obtain insight than from the information big data provides? Big data allows owners to track team stats and more.

Turnout at events is another way owners are involved in big data. Attendance rates, concession and merchandise sales, etc. are tracked to provide shareholders and owners pertinent information on the success of their organization. They need to determine if they need to spend more money on marketing, increase the price point for their sales items, renovate their stadiums, etc.

These titleholders can access data that determines the best way to direct the team. By looking at the team as a whole, the businesspeople can see how the team is performing or reacting to specific factors such as workout schedules, digital exposure and more. Or, they can see player data at an individual level to determine what can aid in the performance of one athlete whether it be individualized training, personal therapy or something else.

College coaches and recruiters also use big data when examining high school players. A coaches job is extremely volatile so they must ensure they are obtaining the best quality talent and using data and analytics is great way to evaluate those prospects.

Big Data Analytics Tools for Businesses

Code Authority has experience with big data by contributing to businesses in the medical field and the sports world.

In 2012, Code Authority was approached by a group of ambitious healthcare experts that had just started a company: BroadJump. These experts were determined to provide pricing transparency across the medical supplies and equipment industry, but their business was still only a concept. Code Authority provisioned BroadJump with a 100% cloud-based solution to meet their every need in a secure, fast fashion. In doing so, we helped them grow into one of the most renowned medical companies in the nation.

Learn more about our comprehensive software solution for BroadJump.

Code Authority was also selected as College Football Playoff’s software provider in 2015. With only two months before the College Football Playoff season, the software solution had to be built and implemented quickly. Code Authority provided a highly-secure and fast software solution following rigorous testing. We also extended unique support services to make sure voting sessions were free of issues and errors.

Learn more about our custom development for the College Football Playoff.

Find the Right Software Solution for your Business

Code Authority develops custom software solutions to help enterprise-level businesses process big data in a modern way, which means your business can confidently contribute big data to whichever field you’re looking to contribute to the success of.

Whatever your field of occupation may be, we can create a custom software solution for you. Contact us today for free business consulting.