The Death of Business Intelligence

Disparate data ‘difficult to define as a unified asset’

Posted in Business Intelligence by TheLondonEconomic on July 18, 2013

Most data management problems occur because disparate data is difficult to define as a unified asset.

Organisations, regardless of the industry, are struggling to capitalize on the opportunities of big data because disparate sets of information are not being harmonized.

When you consider the many operational systems that are in play in a typical organisation, from the finance department to sales and marketing functions, it is easy to paint a picture of how chaotic information generation can become. As data increases in volume, velocity and variety, there is too much information in too many places to make an accurate decision in the timeframe in which it is needed. Analysts know that the answers to business problems are buried in their data, but being unable to unearth the right information is hampering efforts to determine those answers.

To highlight how data is being disparately accumulated and the problems this may cause, we’ve selected two industries where ITC departments are being tasked with harmonizing a wide range of information, and look at some potential solutions to get organisations back on track.

Healthcare

Healthcare is an umbrella term used to describe a million different things. What’s more, many of its components are becoming digitized, which makes pulling in the same direction extremely taxing. Whether it be e-prescribing, electronic medical records (EMRs), digital imaging scans, pharmacy data, lab data, admissions systems, billing systems, insurance claims data or regional health information exchanges, extracting insight in an innovative industry is tricky without consolidating the data at hand.

There are three reasons why information collected in different formats by systems that are not interoperable is likely to yield few insights. A recent blog from American Sentinel University outlined that, first and foremost, medical data exists in silos, which means there is no one repository of all its data. Furthermore, there is a lot of problematic data redundancy occurring when providers duplicate patient data in unlinked files, and much of the data is variable in format and content.

In order to rectify this, a set of processes, governance policies, standards, and tools that permit the disparate data integration must be incorporated. DS Panel’s Performance Canvas offers a flexible work-based solution which can respond to the pace of patient care. It allows you to track and monitor ward or departmental workflow, optimize your patient costs and budgets, report on transfer payments and monitor forecast versus actual patient waiting times, as well as create ad-hoc and flash reports and deliver them in a variety of format and track performance using proven balanced scorecard metrics.

Hospitality

Hospitality provides an excellent example of how big data can be transformed into company-wide functionality and revenue gains. Like most industries, the digitization of the sector has led to a vast accumulation of information which has been gathered from disparate sources and in different forms.

Demand for analytics in hospitality has soared because for hotels, casinos, restaurants and resorts, having consolidated information about guests and patrons is essential to delivering good customer service, managing loyalty programs and targeting appropriate offers and promotions.

DS Panel’s Performance Canvas is a unique software solution which allows managers to keep track of everything from top F&B sales, room occupancy and much more for one property or 1,000 properties, right in their web browsers or mobile devices. Revenue managers and financial professionals are also given a holistic approach to their tasks, ensuring that functionality is run under one roof.

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