With the emergence of the topic of “Big Data” into mainstream media, it has many wondering what industries are going to sit on the sidelines, and which industry is going to harness the intel that can come from analyzing the terabytes of data that is being posted and logged on a daily basis and doubling over regularly. With stats such as 2 million searches, 100,000 tweets and 300,000 people logging onto Facebook in a given minute, it is easy to see how some might look at “Big Data” as something that is too dynamic and too overwhelming of an undertaking.
However, there are many companies out there that have been analyzing this data and leveraging the opportunities that come along with it. The new “Big Data” analytics is essentially just a very large extension of earlier tools that existed to analyze and mine data. So large in fact, that early predictions anticipate spending on big data analytics to increase by the billions in the coming years as we see exponential growth in the amount of data being logged.
- Data about diseases
- Data about drugs
- Data about clinical trials
- Data about new indications.
- And, of course there are all of the regulatory considerations that will also be discussed and debated.