This " Healthcare Business Intelligence Market Research Report - Forecast to 2023 " study provides comprehensive data which enlarge the understanding, scope and application of this report
The global healthcare business intelligence (BI) market held a market value of USD 3,650.1 million in 2017 and is projected to grow at a CAGR of 15.5% over the forecast period. Business intelligence is a set of processes, architectures, and technologies used for the collection, integration, analysis, and presentation of business information. Healthcare data analytics provides healthcare companies and hospitals to prepare, analyze & visualize big and disparate data. Factors characterizing the market growth are the worldwide surge in the number of patient registries, increasing adoption of big data in healthcare, the presence of government initiatives to increase electronic health record (EHR) adoption, and growing need to curb healthcare costs.
Some of the foremost players in the global healthcare business intelligence market are Microsoft Corporation, International Business Machines Corporation, SAP SE, Oracle Corporation, SAS Institute, Tableau Software, MicroStrategy Incorporated, Qlik Technologies, Information Builders, Sisense, Yellowfin International Pty Ltd, and BOARD International S.A.
The global Healthcare Business Intelligence Market Size has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. On the basis of region, the Americas is expected to dominate the global healthcare business intelligence market. This is due to the presence of software and service vendors, and sophisticated healthcare infrastructure, mounting adoption of data-driven decision-making, and emerging fields of prescriptive, predictive analytics.
Europe would be the second-largest region in the healthcare business intelligence market due to burgeoning healthcare vertical, increasing adoption of advanced medical technologies, and the presence of vendors such as SAP SE and BOARD International S.A.
The Middle East & Africa has the least share of the global healthcare business intelligence market. Additionally, the major market share of the region would be held by the Middle East region as the business intelligence and analytics solutions are of paramount importance to organizations in the Gulf Cooperation Council (GCC) countries.
The global healthcare business intelligence market has been segmented into component, function, application, deployment model, end user, and region.
By component, the market has been segmented into platforms, software, and services.
On the basis of function, the market has been divided into OLAP and visualization, performance management, and query and reporting.
Based on application, the market has been categorized into financial analysis, clinical analysis, and operational analysis. The financial analysis is further categorized into claims processing, revenue cycle management, payment integrity and fraud, waste, and abuse, and risk adjustment and assessment. The clinical analysis segment is sub-segmented into quality improvement and clinical benchmarking, clinical decision support, regulatory reporting and compliance, comparative analytics/effectiveness, and precision health. The operational analysis segment is additionally divided into inventory analysis, workforce analysis, and strategic analysis.
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