The phrase "data is the new oil" is often heard today, referring to how valuable data is to the global economy, as almost all industries today operate on and generate huge quantities of data. However, just like oil, data isn't useful in its raw, unprocessed form. Thus, organizations must be able to properly source, curate, and analyze data in order to unlock all its benefits.
The healthcare industry is an area where demand for data is at an unprecedented level. In 2020, the U.S. healthcare system generated around 2,314 exabytes of data, or roughly 30% of the world's data by volume. By 2025, the compound annual growth rate of healthcare data will reach 36%, outstripping other major industries such as manufacturing, financial services, and media and entertainment.
