Analytics Advance BI for Healthcare
Today, the need to process and analyze the ever-larger volumes of data being generated is causing many healthcare organizations to consider expanding the capabilities of their analytics and business intelligence (BI) systems. Being able to do so can be a competitive differentiator. For example, to deliver satisfying experiences, medical and healthcare facilities need more than ever to understand their patients and identify the root causes of their problems. Utilizing modern analytics and BI systems that can process multiple data sources and incorporate advanced analytics can provide the needed guidance.
In response to the explosion of data sources and healthcare’s demand for forward-looking analysis, some technology suppliers are providing more sophisticated analytics in their products. These capabilities include AI and machine learning (AI/ML), machine learning, natural language processing and rules-based optimization. The capabilities combine statistical algorithms with business rules and the ability to learn progressively. One challenge these vendors face is that, despite the technical advances, it is most important that the systems be easy for healthcare professionals to understand and use to make decisions. Our market research into analytics and data finds that usability and manageability are the top evaluation and buying criteria among most healthcare organizations when it comes to analytics technology, and only one-third are satisfied with their technology.