Business leaders are often highly reliant on every single piece of their business information to make profitable business decisions and further refine corporate strategy. This is where business intelligence comes into the picture. Image credit: Flickr Designed to help people make better business decisions and turn the business into a profitable establishment, business intelligence (BI) is a technology-driven process that involves the collection, integration, analysis, and presentation of business information through historical, current, and predictive views of business operations. While, there are many industries have started embracing BI, let’s see where does it stand in the healthcare industry. Business Intelligence and Healthcare As the amount of information being generated is increasing exponentially, big data revolution has left many industries with repositories of information that they earlier had limited or no access to. Industries are now looking into the prospects of moving to a data-driven establishment. The healthcare industry is also on the brink of transformation and according to a report by KLAS, over half of all health organisations are planning to buy a new and more advanced business intelligence system over the next three years. Gartner reported that one of nine deadly mistakes in business operations improvement (BOI) in healthcare is the lack of BI strategy. “Most vendors working in healthcare and other industries observe that healthcare has the most complex data of any industry (possibly excluding government intelligence efforts),” the report states. The report also cited that organisations are not yet fully handling their data the way it should be tackled. The total absence of a well-documented BI strategy, Gartner added, is the biggest folly of the healthcare industry. Forward thinking...
The decisions you make today have a strong bearing on the operations of your business in the future. In order to make sound decisions, your enterprise needs to have the latest operational intelligence information. This is where ‘Business Intelligence’ (BI) comes in and a qualified BI consultant will be able to track your company’s status and operational data very quickly and efficiently. The global market for BI platforms is witnessing a constant rise that has made it rank among the fastest growing enterprise software industries. As per Gartner’s Magic Quadrant for BI and Analytics platform from earlier this year, this growth is expected to take place at a CAGR (Compound Annual Growth Rate) of 8.7% through to 2018. Source: Gartner (February 2015) Martin Butler, an industry expert, commented on the importance of BI by saying that “an organisation without Business Intelligence bears a striking resemblance to a ship without a rudder” in his latest report. So in this article, we will look at the reasons your organisation needs a Business Intelligence consultant, along with some tips to find the right BI consultants and hire them at the right time. Tasks Performed by BI Consultants An ideal BI consultant for your business will have sound knowledge of the underlying data system, along with programs and tools that create the data. The primary job involves carrying out constant monitoring of the business data and generates timely reports that can be shared with your company’s management on a frequent basis. One of the most important yet ignored tasks performed by any BI consultant is finding and listing down requirements. The consultant can devise relevant strategies...
