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Enterprise-level management also means ensuring that the data and analyses are made available broadly throughout the organization, and proper care is taken to manage data and analyses efficiently and effectively. Senior Management orientation drives the culture and mind share directed to analytics and the level and persistence of the investment in people, IT, data, and et al. Incremental, tactical uses of analytics will yield minor results; strategic, competitive uses will yield major ones. It’s no accident that many organizations became analytical competitors when a new CEO arrives or when CEOs found them with a solid analytical orientation from the beginning.

It is about patient experience, lifestyle management, post-treatment experience, preventive care, and population health management. Hence, financial analytics can only ease the transition to Value-based care and to enhance the fiscal health of the system. Factors such as growing federal pressures to curb costs, preference for telemedicine, Electronic Health Records adoption, initiatives focused on quality of care and personalized medicine / treatment plans, are expected to drive growth. Predictive analytics to identify at risk patients for deferred or cancelled treatment Coronavirus has delayed care for many people and still the fear of entering a hospital set-up is back holding many treatments.

Yet, organizations that have selected one or a few distinctive capabilities to base their strategies and then have applied extensive data, statistical and quantitative analysis, and fact-based decision making to support the selected capabilities are the ones who remain competitive. Media, Telecom giants, and SaaS players use data & analytics to prevent customer churn, identify cross-sell & up-sell, and customer lifetime value. Analytical competition is like an arms race, requiring continual development of new measures, new algorithms, new data sources, new data transformation techniques, and new decision-making approaches. Firms such as Netflix, Target, Mastercard, and UPS have CEO-level sponsorship and even passion for analytical competition that continuously innovates with new products and business models, thereby becoming leaders of the industry.

Companies are struggling to translate technical project results into viable solutions that deliver measurable business results. Without a basis in actual business results or viable uses, many projects (which seem to go on and on) yield disappointing results in the end. The services needed to identify good use cases, find the right data sources, ask the right questions, and integrate insights are included. And because platform solutions are built on scalable cloud infrastructure, analytical workloads always operate on “right-sized” resources that can be added or subtracted as needed.