There's no question that healthcare is an industry yearning for the advancements promised by Big Data analytics. Healthcare data is expected to grow between 1.2 to 2.4 exabytes per year — about 1,000 times the amount of data the human brain is capable of storing. This data is disparate and unstructured, making the extraction of useful information almost impossible. It is here that Big Data analytics promises to save the industry billions of dollars. This week Ricky Ribiero at Biz Tech Magazine joins the many voices investigating this trend. In his article, “Will Big Data Become the Big Savior of Health?” Ribiero illustrates how analytics can improve health outcomes and how tracking personal health, even down to the genome, can radically improve health. Ribiero cites a 2011 McKinsey & Co. report that states, “If US healthcare were to use big data creatively and effectively to drive efficiency and quality, the sector could create more than $300 billion in value every year.”

“While it’s true that analytics can reshape the way healthcare operates at an individual level,” Ribiero writes, “companies are hard at work trying to figure out how to leverage Big Data to improve health at the population level, too.”

Massachusetts has the dubious distinction of spending the most money on healthcare per person of anywhere in the world. At the Mass Technology Leadership Council healthcare community meeting on Tuesday, April 24, "The Need for Technology Solutions for Providers Under Payment Reform", held at WilmerHale in Waltham, MA, keynote speaker Sarah Iselin, President of the Blue Cross Blue Shield of Massachusetts Foundation, reviewed some of the startling facts and figures related to healthcare coverage and costs, such as this one.

A few hours ago GigaOm published an article declaring "Marketing is the next big money sector in technology". In the first paragraph, the author, Ajay Agarwal of Bain Capital Ventures, sets up the future of the industry this way: "For the first time in history, businesses can leverage big data for the benefit of driving marketing insights. We are at the very beginning of this wave, but this fundamental shift will create several multi-billion dollar winners. And a set of technology companies will emerge as the marketing equivalents of Salesforce and SAP."

The Mass Technology Leadership Council held its annual Big Data Summit yesterday at the Microsoft New England Research and Development Center in Cambridge, MA. The sold out event was attended by a broad cross-section of the Boston tech community with engineers, designers, venture capitalists and business managers all coming together to discuss the future of Big Data in the Bay State. Massachusetts is well positioned to take advantage of the coming boom in big data according to a recent MassTLC white paper that reviews both the current lay of the land and future opportunities.