When B.I. (Business Intelligence) becomes a good company

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Business Intelligence in Finance and Banking | Qubole

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Business Intelligence or B.I. according to Reynolds (2010) is a wide range of applications, practices, and technologies for the extraction, translation, integration, analysis, and presentation of data to support decision making.It encompasses business analytics, data mining, data tools, data visualization and infrastructure, and best practices to help organizations make more data driven decisions.


Business Intelligence in Healthcare Industry

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The hospital is one of the institution that has complex data, and without an established method to collect and analyze it, intelligent business decisions may have been compromise. Since Business intelligence has applied, it has improved patient’s safety and management, preventing fraud, reduction of cost and generate revenues. This provides better and faster decision making in which the inter referral of multi specialty doctors in several critical cases can help in the decision making and prompt treatment, it improves risk management through complete and thorough patient’s history that enables to foresee potential medical problems, it creates patient care and satisfaction, where using BI applications it can collate all reports and present them in a visual format, providing detailed insight on every aspect of the patient’s health, and lastly it can have better cost management since the data analytics organizes all of the health system’s clinical, financial, patient satisfaction rate and administrative data into a single source of information. Having an available data at one place, errors in calculating hospital expenses will be eradicated.                          

Life is indeed better if we use business intelligence.

REFERENCES:

1. Reynolds, G. W.(2010). Information Technology for Managers. Cengage Learning.

2.Business Intelligence in HealthCare 13 February 2015 Retrieved fromhttps://informationsystemlearners.wordpress.com/2015/02/13/business-intelligence-in-healthcare/


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