The New Frontier: Data Analytics Essay

1242 Words Mar 21st, 2015 5 Pages
The New Frontier: Data Analytics

Yvonne Mitchell
Strayer University
Professor Raied Salman
Info Syst Decision-Making
January 12, 2015

The New Frontier: Data Analytics
What is data analytics? How has its use in business evolved over time? What are the advantages and disadvantages of using data analytics within a specific company or industry? Are there any challenges or obstacles that business management must overcome in order to implement data analytics? If so, is there a strategy that can be used to overcome those challenges or obstacles? How has data analytics transformed the healthcare industry with regard to customer responsiveness and satisfaction? Within the next ten years, what do you think the trend in using data
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Quality healthcare is in high demand. Healthcare companies are seeking ways improve care and reduce costs. For example, UPMC Health Plan wrote its own software application to analyze its vast database comprising information pulled from multiple, disparate sources. This database includes electronic clinical notes, claims data, patient demographics, individuals, self-reported health assessments, pharmacy data, household data, and more. The company was able to use this software to perform analytics and predictive models to forecast patient behavior and provide preventive care. As a result they were able to improve patient care and manage its resources appropriately to operate more cost effectively. (1) One of the main disadvantages of analytics adoption in the healthcare industry is the ability to find relevant and reliable data. There is an overwhelming amount of data that has to be sorted through to pull out the information that will help a company successfully achieve its goals. Another obstacle or barrier to analytics adoption is the lack of information management. Information must flow and be shared in order to understand how analytics will improve business operations. When information is not managed properly potential opportunities for improvement and/or potential risks could be overlooked because the data is not

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