Every business organization, regardless of its size, commercial sector, or number of employees, can benefit from properly organized and coordinated data. It’s no secret that access to reliable data can be leveraged to improve efficiency, simplify the decision-making process, and identify obstacles that are getting in the way of success.
However, not every company has a single, unified data tool that can organize and analyze data. According to the tenth anniversary edition of Dresner Advisory Services’ Wisdom of Crowds® Business Intelligence Market Study, more than half of the businesses surveyed expressed their intention to raise their business intelligence budgets in 2020.
Adopting a holistic data management tool can dramatically improve a company’s performance, but only if it is implemented in the right way. In her recent white paper for Dimensional Insight, Jennifer Bresnick explores four of the major challenges that companies usually face when it comes to business intelligence, and how best to overcome them. (more…)
A common theme for organizations that successfully use data is the fact that everyone in the organization is on board with the approach to data. This can be difficult when faced with employees who might be set in their ways or who think they don’t have a handle on the data.
But if your organization is committed to using analytics, these are hurdles that need to be overcome. Here are five ways that you can improve data literacy in your organization. (more…)
With the nation’s healthcare spending projected to top $6 trillion by 2027, regulators and payers are turning to value-based care strategies to curb unnecessary costs while nudging the United States up the list of countries with high-quality patient outcomes.
Value-based care models require healthcare providers to take accountability for the spending and outcomes of a defined population of attributed beneficiaries. Participants must meet challenging financial and clinical targets in order to gain incentives or avoid negative payment adjustments.
The rapid adoption of value-based care models has put pressure on healthcare organizations to enhance their visibility into the challenges and utilization patterns of their attributed populations in order to stay ahead of avoidable spending.
For that, they need data analytics. (more…)
If you go to Napa Valley’s Vineyard 29 and walk around the crops, the grapes almost look like they’re in bandages. But the bandage is actually a water-measuring device that sends the results to a computer. The data helps take the guesswork out of assessing whether the grapes are healthy. It makes the wine better and helps produce stronger vintages.
Winemakers are collecting as much data as they can to help create better production. The processes include drones flying in the sky to measure reflectance rates and software to measure the control tanks connected to those water-measuring bandages. (more…)
3D printing has become a hot topic in recent years, and is being used in a variety of industries such as healthcare, engineering, architecture, and more. However, there is one key tool that 3D printing relies on that could make or break its future: big data.
Without the existence of this advanced data, some of the functions used in 3D printing would not be possible. But how do big data and 3D printing work together? Let’s examine. (more…)
Many economists say we are overdue for a recession. Despite a low unemployment rate and the economy’s longest expansion on record in the United States, experts in America and the World Bank point to trade wars and other globally financially risky situations as reasons for a dim forecast.
Analytics may not be able to tell you exactly when the economy might shift. However, data can certainly help an organization mitigate the impact of a recession by giving you the right information to better target the right market, save money, and increase profits. (more…)
Data analytics is no longer a trend – it is a necessity for organizations to stay relevant in their fields. Big data has been sweeping across every industry, from healthcare to the food and beverage industries, and it has been making analytics skills more and more necessary in every industry it touches.
Data analytics is a segment sure to showcase many fascinating developments in the new year. As businesses harness the power of data analytics, 2020 use cases are both varied and compelling.
Here are five outstanding examples: (more…)
It was not long ago that companies and organizations had to rely on their “gut instincts” and often unreliable data to make decisions big and small.
Now, with the advancement of applications such as big data and business intelligence, companies can incorporate a data-driven culture, optimizing their success in multiple areas. But what does it really mean to be “data-driven?” Let’s examine. (more…)
In the 21st century, ads are getting smarter. The classic approach—trying to get an ad seen by as many people as possible—is no longer the most efficient or effective way to go. There are simply too many messages competing for everyone’s attention.
That’s why so many advertisers have turned their focus towards targeted advertising. By doing some research on potential consumers, businesses can direct their ads solely towards those who are likely to be interested in them. Having access to more customer data by using new methods like image recognition can boost your brand’s marketing and give you a crucial edge over your competition. (more…)
Healthcare interoperability initiatives have been going on for quite some time now, with varying degrees of success. While some interoperability efforts have been successful and are expanding reach, others have shut down completely.
So what is the state of healthcare interoperability in 2019? New England HIMSS examined this topic in its annual HIE Conference – a day devoted to exploring some of the issues around interoperability and health exchanges. Let’s examine some of the takeaways from the event. (more…)