2012-12-12 04:18:17 - Global Business Intelligence Software Market in Healthcare Industry 2008-2012 - a new market research report on companiesandmarkets.com

Business Intelligence tools are a type of application software, designed to help the Business Intelligence (BI) processes. They provide faster and consolidated view of enterprise-wide information, and pack in the ability to flexibly analyze it. Business Intelligence systems can help enterprises have a comprehensive knowledge of the factors affecting their business; for example, metrics on sales and internal operations. Various tools and applications of BI include query reporting & analysis tools, data mining tools, and data warehousing tools.

Business Intelligence tools enable healthcare enterprises to make real time decisions at all levels, i.e. strategic, tactical and operational, using advanced analytics and powerful data mining tools. Further, these tools provide single integrated enterprise solution for reporting; thus, reducing the time consumed in

 

 

reporting.

The healthcare industry comprises healthcare service providers, medical device manufacturers, pharmaceutical companies and health insurance firms. Increasing healthcare cost, expanding market demand, and increasing awareness among consumers will characterize the healthcare industry in the near future. The demand of healthcare facilities is increasing owing to increased growth of aging population, increasing number of chronic patients, rising healthcare consumerism, increasing awareness and rise in income level of users. However, the supply is constrained with limited financial resources, shortage skilled manpower, and outdated facilities.

Rising cost of care is one of the significant trends in the healthcare industry. Employee health insurance cost and prescription drugs are the fastest growing component of healthcare cost. Further, increased utilization and rise in prices of medical equipment and drugs are responsible for the rising cost of healthcare. In addition, the healthcare industry is incorporating new technologies to provide better healthcare services to patients, which in turn is increasing the cost of healthcare.

The report by TechNavio Insights forecasts the size of the business intelligence software market in healthcare industry over the period 2008-2012. It segments the business intelligence software market into various geographic regions (representing the market size for each of these regions). Further, it discusses the key market trends, drivers and challenges of the business intelligence software market in the healthcare industry, and profiles some of the key vendors of this industry.

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