Data is becoming an indispensable resource – especially in industries that need to make decisions before it is too late. One such industry is healthcare.
Analytics starts with what you have. What data do you currently possess? Historical records of the number of patients as well as the nature of diseases can help you determine trends in the demand. Although not everything will be available on record, patterns can help you prepare when the demand will come in and prepare your resources to address the need.
Your human resources record can also be able to provide insights into your hiring and retention practices. Are there patterns when employees quit and when you have the most hires?
Another important factor to consider in the analysis is the external element. Trends in the industry affect individual players such as your business. It can be worth your time to look at what’s happening with competitors or other healthcare providers.
Just a note, analytics is just a tool. For effective decision-making, you need to have enough data and it should be accurate and relevant.
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