Struggling To Become A Data-Driven Organisation?
20-40% of all health sector resources are wasted.
GE estimated that a 1% efficiency gain could lead to more than $63 billion in global health care savings.
With hospitals facing unprecedented cost pressures, tracking and optimising patient flow, treatment, and equipment use is becoming increasingly difficult.
How could hospitals overcome their primary challenge of efficiently treating as many patients as they can while simultaneously improving the quality of care?
This is where data analytics comes in handy.
In 2011, a study by MIT Sloan School of Management found that businesses engaged in data-driven decision-making “have output and productivity that is 5-6% higher than what would be expected”.
The beauty about the state of business intelligence and data analytics in 2020 is that technology makes it possible to measure, test, and improve almost everything within your business operations from your ad campaigns to real manufacturing costs, customer relationships, talent, and more. The right analytics tool can help you keep track of critical data and allow you to respond in real-time.
But here’s the thing.
If you’re struggling to make data analytics work for your organisation, and it feels like you’re fishing for insight in an overwhelming sea of data - you’re not alone.
A recent survey of large enterprises found that less than 40% manage data as a business asset and only 31% considered their organisation data-driven.
It doesn’t matter how much data you have. Without taking a strategic approach to learning from it and employing the right tools, you may squander time, attention and money only to find that you haven’t used your data to achieve anything great. Here are some steps you can take to help you cover your bases, gain clarity and work towards becoming a data-driven company.
