The use of big data analytics could help to improve efficiency within the healthcare sector and cut the time it takes for drugs to get to market.
According to life sciences specialist Allistair Booth and technology law expert Matthew Godfrey-Faussett of Pinsent Masons, data analytics tools are continuing to advance and investment in these could help to boost efficiency in the healthcare sector, Out-Law.com reported.
Mr Godfrey-Faussett explained that to make full use of the value of big data, healthcare companies need to ensure they are using the most up to date data analytics tool.
He said: "As populations become more mobile and geographic borders decrease in relevance, it becomes increasingly important for health care providers to be able to access the data that they will require in order to prepare for and treat discrete populations as their presence in the UK grows in response to the expansion of the EU or civil wars and natural disasters of the type currently plaguing Syria and the Philippines."
Recently it was announced that the NHS is launching a big data project to store patient data on everyone within the UK. The project, care.data, is aimed to be used for admin, statistical analysis or, where it is legally able to do so, sold to research companies. Additionally, it could aid in quick transportation of patient details.
According to the NHS, the project will use the minimum amount of data necessary to inform decisions on how care in the community can be improved and a thorough process must be followed before information can be shared. Additionally, there are strict rules on the information can be stored and used.
Patients who do not wish for their data to be used can ask their GP, who will note on their medical record that their information should not leave the practice.
Investment in big data within the healthcare sector is likely to continue to rise. As a result of this, more specialists in this area are likely to be needed, which could see more jobs being created in this industry.