Big data and internet of things in healthcare industry

Abstract

Internet of things (IOT) is a technology that connects multiples of devices, sensors, collects large amount of data, stores on cloud and processes using business intelligence tools. IOT can be used to make lives easier and business more productive. The biggest driver that propels the growth of IOT is the availability of low cost sensors with varied functionalities. IOT has wide applications in diverse fields such as automotive, energy, healthcare, smart manufacturing, retail, smart buildings, smart homes and retail. As per an Intel report, IOT will connect 31 billion devices and 4 billion people, which implies that eight devices per person will be connect via IOT by 2020. Healthcare represents one of the most attractive application areas for IOT. As per a Mckinsey report 40 percent of the global economic impact of the IOT revolution will be in healthcare industry. IOT technologies are expected to save $63 billion in healthcare costs, 15-30 percent reduction in hospital equipment cost and 20 percent increase in patient throughput by 2030. IOT advancement in healthcare will lead to lowered cost of care, improved patient outcomes, empower patients, real time disease management, improved quality of life and improved user experience. Some of the example of applications of IOT in healthcare space are flexible patient monitoring, improved drug management, remote health management, managing lifestyle-related diseases, fitness program, chronic diseases and care for the elderly.