identifying problems and opportunities through data analytics

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identifying problems and opportunities through data analytics

Some are simple, but some are very complex and can shift the course of a business or industry. Big data can contain business-critical knowledge. In this module, you'll learn the basics of data analytics and how businesses use to solve problems. Data tools that do not fit into existing work and decision-making structures add burdens to physicians and are much less effective than they could be. $("#fooHomepage").carouFredSel({ But obtaining this enormous potential is not around the corner and will require overcoming challenges by all of the relevant components of the health care system. Although predictive analytics is still evolving, companies using the technology face two main challenges today: lack of skilled personnel and inexperience with predictive analytics technology. A larger reason is that data commons are a public good and will naturally be undersupplied by the market. For many organizations, the ability to target the right customers remains the No.1 analytics and data science problem. Currently, health care data are split among different entities and have different formats such that building an insightful, granular database is next to impossible. The federal government can also indirectly support the development of health data analytics by continuing to encourage payment based on the value of care, typically through the Medicare program, encouraging alternative payment approaches, and by working to align quality measures and payment approaches with private insurers. One critical component of that agenda is ensuring interoperability of Electronic Medical Records (EMRs). Yet, simple RFM techniques can accrue huge gains as we create an overall customer index based on recency of activity, frequency of activity, and amount of activity. This isn’t limited to medical record data. Meanwhile, care providers may hold clinical data that could help insurers better manage their patient’s costs. //

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