Analytics has been defined as the study of historical data to research potential trends, to analyze the effects of certain decisions or events, or to evaluate the performance of a given tool or scenario, with the goal of improving outcomes through greater knowledge (http://www.businessdictionary.com/ definition/analytics/html). While analytics have permeated all aspects of business to date, healthcare analytics represent an area of extremely high and untapped potential. The McKinsley Global Institute (MGI) estimates that big data analysis (i.e., analysis of large datasets) could save the U.S. healthcare system 300 billion dollars annually, with two thirds of that saving in the form of decreasing expenditures by 8 % (http://www.mckinsley.com/insights/mgi/research/technology_ and_innovation/big_data).
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