What's driving the healthcare’s business intelligence market?

A notable key trend is the adoption of predictive analytics.

Improved efficiency of business intelligence (BI) tools in the healthcare sector is driving the sector to grow by $14.2b until 2028 at a compound annual growth rate (CAGR) of 21.22%, according to Technavio.

“With the increasing penetration of data, managing and analysing patient data has become essential for better patient safety, clinical performance, and improved patient outcomes,” the report said.

Such tools can be utilised for cost management, cash flows, and financial analysis, with industries including healthcare providers, hospitals, and government agencies relying on its use.

In line with this, the market is witnessing a trend towards the adoption of predictive analytics.

“Historically, decisions were reactive, but predictive analytics offers a proactive approach, making it a crucial driver of growth for the global business intelligence market in healthcare during the forecast period,” the report added.

Its healthcare applications include forecasting sepsis rates, identifying high-risk readmission patients, and estimating per-quarter finances.