The Between Analytics And Business Intelligence Essay

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Company’s current position and ability to compete on analytics: I had worked for a healthcare delivery organization whose mission is to enhance the quality of life through improved health, prepare future health care professionals and discover new medical knowledge through research. It is the only Academic Medical center in the region and enjoyed a monopoly for quite some time. With the passage of the Affordable Care Act, the payment model changed from Fee for Service to Bundled payments. The organization was challenged to lower the cost of providing healthcare services without compromising quality of care or research. It had to invest heavily on implementing Electronic Medical Records and systems for reporting to regulatory agencies and insurance companies. The table below highlights the differences between Analytics and Business Intelligence. Note that the organization is in the early phase of implementing BI solutions. Analytics Optimization What’s the best that can happen? Predictive modeling What will happen next? Forecasting/extrapolation What if these trends continue? Statistical Analysis Why is this happening? Business Intelligence Alerts What actions are needed? Query/drill down Where exactly is the problem? Ad hoc reports How many, how often, where? Standard reports What happened? The sections below go into greater detail about how organizations can use analytics as a competitive weapon to introduce new goods and services and support existing ones. The four
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