Question

What are the risks to the healthcare industry from the use of data analytics?

Answer 1

All analytics which is useful in healthcare industry use data as their key input. Most of them use actual patient data which is a highly confidential one and any information leakage happened due to lack of data management or virus attack cause severe vital information loss or exposure. Thus data privacy is one big risk. Another major risk is that many analytical tools provide insights on patient care, treatment mechanism or suggestions. Sometimes the logical deduction from analytical tools can be wron which results in poor judgement or decision making in healthcare field.Thus sensitivity of care decision should be considered very carefully. Sharing of vital information like electronic health care records need more strong IT policie and governance. Additional expenses like auditing is also required and thus there is a good amount of money investment is there with managing analytics and it includes the software or tools , resources cost etc. Another risk in analytics is obsolescence of technology which results in regular updates or upgradation and thus decision making become much more complex.