India-based IT company Infosys Ltd. INFY recently announced a partnership with technology behemoth Microsoft Corp. MSFT to aid the digital transformation of health institutions through the deployment of smart analytics solutions.
Infosys’ collaboration with Microsoft reflects its underlying strategy of strengthening core competencies by pursuing strategic collaborations and acquisitions. The company aims at collaborating with leading technology providers, which allows it to take advantage of emerging technologies in a mutually beneficial and cost-competitive manner.
Inside the Headlines
Leveraging on Microsoft’s multiple analytics offerings, Infosys is developing a comprehensive healthcare analytics solution that will allow healthcare organizations to store and interpret voluminous structured and unstructured datasets at optimal costs. In particular, Microsoft’s Cortana Analytics Suite and SQL Server 2016 are being integrated into Infosys’ analytics offerings to help healthcare organizations augment operational efficiency and reduce administrative costs.
The jointly developed solutions will markedly improve actuarial planning process and support healthcare contact center processes. This will ultimately help in increasing return on investment for existing tools and offer live decision support to contact agents. Timely decisions on the part of healthcare institutions will help unlock more opportunities for transforming patient’s health and improving outcome.
To Conclude
Infosys believes its advanced analytics suite will allow healthcare organizations to track population health trends, enhance clinical effectiveness and improve patient satisfaction. Predictive analytics is currently emerging as a common tactic of healthcare institutions adopted to outshine peers. Meanwhile, the advent of cloud technologies has broadened this scope exponentially which in turn is expected to boost demand for the jointly developed products of Infosys and Microsoft.
Encouragingly, market reports suggest that the global healthcare analytics market will reach a worth of $18.7 billion by 2020 from $5.8 billion in 2015, reflecting a CAGR of 26.5%. However, the market is highly fragmented and Infosys will have to face intense competition from the likes of International Business Machines Corporation IBM and Oracle Corp. ORCL. Also, emerging companies are actively venturing into this thriving space which can prove to be another challenge for this Zacks Rank #3 (Hold) stock.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment