Survey Says: Healthcare CIOs Don’t Fully Trust Their Data

What is the state of trust in data within healthcare organizations? And how much data is easily accessible to decision-makers? Dimensional Insight recently set out to answer these and other questions by surveying healthcare chief information officers and other senior healthcare IT leaders.

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The survey probed three realms within healthcare organizations: clinical, financial, and operational. Overall, it found few organizations have very strong trust in their data while levels of self-service vary across the enterprise. The survey also revealed that most healthcare organizations plan to invest money toward improving both data trust and self-service. Here is a closer look at the results. (more…)

Microhospitals: How a New Healthcare Model Leverages Business Intelligence

Microhospitals. Boy Talking To Male Nurse In Emergency Room

For years, bigger was considered better when it came to hospitals. But now some hospitals are thinking small. In an effort to deliver faster, more convenient care, some healthcare systems are opening what are called “microhospitals” or “neighborhood hospitals.” These put care closer to the patient while allowing established hospitals to expand their footprints.

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Tandem Hospital Partners, founded in 2014, operates several new microhospitals, with plans to open a total of 15 in 2018. Tandem’s innovative business model relies heavily on data and business intelligence to help the company deliver timely, quality care. Here is a look at how Tandem is leveraging data and BI. (more…)

How New Database Technology Fuels Oil Company’s Analytics

corrib oilIf “America runs on Dunkin’,” then parts of Ireland certainly run on Corrib Oil. Corrib not only fuels people with coffee and bakery items, it sells fuel for homes, cars, and trucks in the west of Ireland and the midlands.

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Corrib’s business has two sides– oil distribution and 18 retail locations selling gas, coffee, fresh foods, and grocery items. But each side of the business has many components and each component can have several data technologies in place. How does a company like that get its arms around all its data to assess the state of its business? Here is how Corrib wrangled its data – and then instituted one change to make that data enormously more useful. (more…)

How Analytics Saved Fieldale Farms $170K Per Year

fieldale farms, chickenThe tight U.S. labor market and uncertainty about corn and soybean prices are dual challenges for U.S. farmers and food producers this year. Compensation costs are up, making it tough for many companies to find the skilled workers they need. And while overall feed prices are down slightly, international tariff talk is unsettling and fueling uncertainty throughout the industry.

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With these two factors largely out of its control, Fieldale Farms, a Georgia-based poultry producer, is using analytics to improve its margins where it can. Here is a look at the company’s efforts and its impressive results. (more…)

Big Man on Campus? Now It’s Big Data

big data. Celebration Education Graduation Student Success Learning ConceptAmerican colleges and universities have a problem and—like baseball teams and health care companies—they are turning to predictive analytics and big data to help solve it. The problem is retention. Fewer than half of U.S. students graduate in four years and about 60% finish in six years, at a big cost to both families and institutions. The statistics are even worse for first-generation students and those from low-income backgrounds, perpetuating social inequities.

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A solution lies in predictive analytics: analyzing large sets of data to discern patterns and spot students in danger of dropping out. A growing number of colleges and universities are incorporating predictive analytics and big data to monitor student progress and intervene quickly when there’s trouble. Here’s how. (more…)

Battle Brewing over Craft Beer and Spirits Distribution

Battle Brewing over Craft Beer and Spirits DistributionThere is a battle brewing that pits producers of craft beer and spirits against distributors and bar owners. Brewers and distillers usually work in partnership with their distributors and retailers, of course. But they also compete against them when they open tasting rooms and sell directly to consumers.

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Distributors do not like being cut out of the action, nor do bar owners. So both sides are stepping up their lobbying efforts to influence alcohol beverage laws in many states. Let’s look at some of the factors that are in play. (more…)

AI and Human Instincts: Better Together

Artificial intelligence, once the stuff of science fiction, is now so embedded in our lives that we often do not notice it. We are alternately grateful for and aggrieved by autocorrect on our phones. We take it for granted when Facebook tags our photos, Amazon recommends books, and detection algorithms help read our mammograms. Yet Gartner predicts there is much more AI to come. In its recent report, 100 Data and Analytics Predictions Through 2022, Gartner posits, “The introduction of artificial intelligence across all types of business functions in all industries will accelerate and broaden. It will manifest itself in many if not most daily tasks from personal to professional, yet result in net job gains.”1

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That last part intrigues me, the notion that AI will create, not eliminate, jobs while becoming more enmeshed in our personal and professional lives. My theory? It’s because artificial intelligence greatly complements but cannot replace human intuition. AI and gut feelings – like bacon and eggs, they are better together. Here are three organizations using AI in 2018 to enhance human intuition, improving profits and lives. (more…)

3 High-Tech Trends That Are Changing Manufacturing

3 High-Tech Trends That Are Changing ManufacturingU.S. manufacturers have new incentives to modernize their factories. New tax rules make it more attractive for companies to invest in equipment, allowing manufacturers to immediately deduct the full cost of equipment purchases. Previously, companies were allowed to write off only a portion of the cost in a single year.

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The new rules apply for the next five years at least, creating the potential for sizable investments and modernization in U.S. factories along with opportunities to leverage the data it generates. Where might manufacturers focus their equipment investments? Here are three high-tech trends poised to change manufacturing. (more…)

Survey Says: Hospitals Struggle with RCM, Impacting the Bottom Line

HIMSS RCM SurveyHospitals and health systems are struggling to make the most of their revenues in the ever-changing healthcare landscape. A steady stream of mergers, lack of interoperability, the shift to value-based care, and other challenges are prompting health systems to focus on improving their revenue cycle management (RCM).

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Dimensional Insight recently surveyed health systems to assess their current tools and challenges within RCM. The results highlight the complexity of tracking and gathering data throughout the revenue cycle, especially for organizations with multiple EMR and/or RCM solutions. Here are some of the survey’s highlights and as well as a few thoughts on what they mean for health systems. (more…)

How to Begin Benchmarking Your Business Intelligence

benchmarking business intelligence

After your organization has invested in a business intelligence solution, how can you assess its performance? How do you gauge its efficiency and whether the decisions you make based on its insights are good or bad? Forrester Research recently explored these questions in a report about benchmarking your company’s BI environment.

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Business intelligence is an asset that turns information into a competitive advantage, so it is imperative to determine whether it is performing well or needs a tune-up. The report recommends an extensive “BI-on-BI” methodology. While the very notion of deploying BI to evaluate your BI may sound intimidating, it can be taken in baby steps. Here are some actionable ways to begin. (more…)