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What is Business Intelligence & What Does It Mean to your Home Care Agency?

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Home and community care providers are transforming their businesses to adjust to the tectonic shifts in the industry. Agencies need to leverage their systems to do more with less, and the catalyst for this change is to be obsessed about data driven decision making. Thankfully, the rise of business intelligence (BI) is unlocking actionable insights that will dramatically improve home and community care organizations.

So what exactly is BI? Depending on who you ask, the definition of business intelligence tends to vary across difference organizations. Here’s a sample definition from CIO.com:

“Business intelligence”, or BI, is an umbrella term that 
refers to a variety of software applications used to analyze an organization’s raw data. BI as a discipline is made up of several related activities, including data mining, online analytical processing, querying and reporting. Companies use BI to improve decision making, cut costs and identify new business opportunities. BI is more than just corporate reporting and more than a set of tools to coax data out of enterprise systems. CIOs use BI to identify inefficient business processes that are ripe for re-engineering.”

In the home care industry, the shift to electronic medical records, digital office systems and cloud computing has made capturing and compiling large amounts of data much easier.

However, despite having large amounts of data, home care providers are generally faced with the challenge of not knowing how to leverage the data beyond basic reporting. Moreover, in the home and community care sector in particular, visit, operational information, and clinical data is often stored in paper format — or if is it digital the information resides siloed databases.

These system deficiencies make it difficult or near impossible to gain a holistic view of operations, and eliminates the ability to “pivot” data which can lead to actionable insights for providers.

With a fully integrated BI tool, agencies can now access and can pull reports on more information, faster than ever before. BI tools allow agencies to stop sifting through all of their digital or literal paperwork and focus on understanding their data. Key stakeholders can visualize KPIs (Key Performance Indicators) and critical metrics on a dashboard, create ad hoc custom reports, and quickly find the information they need.

A well-orchestrated end-to-end software solution with integrated BI technology enables your home care organization to produce meaningful reports and consequently actionable insights to improve business processes, make more informed decisions, and provide more personalized customer experiences.

If you’re interested in learning more about business intelligence, read our comprehensive guide: Business Intelligence (BI): Your Home Care Agency Guide to Reporting & Insights

Sources:

Mulcahy, Ryan (2007). Business Intelligence Definition and Solutions. CIO.com.