Do You Make Decisions Based on Facts?
Do you make decisions based on facts? Get your facts straight with enterprise health analytics and big data.
Massive change is sweeping the healthcare industry. To be sustainable, healthcare organizations (payers, providers, and drug and device manufacturers) must be unrelenting about achieving higher market value by reducing costs, more efficiently managing resources and delivering treatments that improve patient outcomes.
But you can’t improve what you can’t measure, and you can’t measure without data…the right data, that is. Today’s healthcare data is defined by exponential growth in volume, emanating from an increasing variety of sources. As a result, the challenge of data integration and management in healthcare has only grown in size and scope. In addition to the huge growth, 80% of data is unstructured and contains a wealth of insights that are currently not being extracted and leveraged. Finally, with the increase in home monitoring and medical devices, data is sometimes coming in at 1,000 times per second, so the velocity is also immense. Imagine if clinicians, researchers, marketers, business operations and CFOs could tap into this data to inform their analytics for more insights and action!
The winners in this transformation will be defined as those that treat data as a strategic asset, putting systems, processes and tools in place that allow real-time access and analysis on the right data to inform decision-making and action. They truly will become data-driven healthcare organizations that make insightful decisions based on comprehensive facts. But they won’t get there overnight, and it’s not easy.
Understandably, most organizations will need to take an incremental approach to becoming data- driven, beginning with an information strategy and roadmap for culture change. Successful leaders will recognize the need to establish an enterprise analytics foundation that can integrate with existing systems and will be scalable to support increasing growth in volumes and varieties.
At the core of a data-driven healthcare organization is the ability to analyze a wide range of data, from within and outside its four walls, to determine what is happening right now with regard to patient, staff and population profiles, as well as financial, clinical and operational processes.
In our newest white paper on big data, IBM shares five key steps healthcare organizations can follow when establishing their analytics platform data governance policies.
1. Define all data sources
2. Set data quality metrics and assess and improve the quality of proposed sources
3. Integrate data sources
4. Identify analytics needs
5. Secure and manage the data lifecycle
Every organization is at a different point in their analytics journey. You can see in the diagram below an illustration of the analytics continuum – the progression from a manual data management and reporting environment that addresses simple queries to a more prescriptive and predictive environment that is capable of handling larger data volumes, a variety of data, and complex analytical questions that will help drive the transformation required to survive.
Where are you on this journey?
If you want to learn more about this progression and how healthcare organizations like yours are getting results from their analytics, I encourage you to read our latest white paper on what it means to be data-driven in healthcare today.
Are you attending HIMSS13? Visit IBM booth #1841, Pedestal #5 to learn how healthcare organizations effectively manage, integrate, analyze and govern their data to deliver actionable insights, and measure and improve performance and outcomes. See demonstrations on ACO and quality measures, claims analysis and supply chain. See how reports can be extended to mobile devices and discuss entry points to build your health analytics strategy. Follow IBM on Twitter @IBMBigDataHLS – I look forward to meeting you at HIMSS.