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Business intelligence tools are a vital component in the success of any organization today, and healthcare systems are no exception. Business intelligence (BI) tools can collect volumes of data about what’s happening in your organization, or the industry, markets, or customers you serve. With proper design, BI can provide valuable insight into what your customers want, where their business is challenged, and even how they use technology and business process automation. Therefore, the information obtained from business intelligence tools can be basic facts and numbers, or can be configured in a way that enables a more personalized and informed view of your customers focused on better understanding their wants and needs. Using good BI can be a difference maker in your firm’s profitability and competitiveness in the long run.
What are Business Intelligence Tools?
Business intelligence tools gather and summarize information from various sources. According to the Harvard Business Review, everything from your accounting records to trends on social media sites can be used to analyze what your clients want and are planning to do. The technology is able to take vast amounts of unstructured real-time information and streamline it for you in a way that is clear and understandable. Advanced methods can extend into what is called predictive analytics. For example, hospitals could use predictive analytics to determine how full their emergency rooms may become in the coming weeks by sourcing information that describes an increase in flu and cold symptoms.
How Can This Help You?
Any industry can benefit from the data BI tools provide – when healthcare providers take advantage of business intelligence tools, they are able to run a smoother operation and experience improved client relations. This technology can also arm you with information about what your competitors are doing, giving you an edge in the marketplace. By utilizing business intelligence, you’ll understand your clients and your competition better, giving you an edge in the industry. This means you are able to make intelligent, informed decisions about your organization that are based on facts rather than just your instincts. All of this can ultimately help you save money in the long run – a fact that couldn’t be more desirable than it is under the current financial challenges facing the healthcare industry.
With business intelligence tools, you are able to:
- Examine trends in the industry and with client behavior in a way that allows you to make effective decisions.
- Understand how to influence clients in target populations.
- Create practical and powerful strategies to better connect with your clients and boost their satisfaction levels.
- Analyze the market environment in a way that empowers you to make smarter decisions.
- Learn how to confidently think outside the box and use innovative techniques for business solutions.
TIGI Challenge to Win
Using the TIGI Challenge to Win program, you can gain greater insight into how business tools can be used to predict your clients’ behaviors and increase their satisfaction with your organization. The program teaches you how to utilize these tools so that you can understand your client population better and are also able to make smarter financial decisions based on solid data. Knowing how to cut costs while exceeding your client’s expectations can mean the difference between a profitable business and one that is drowning like so many others are today. With business intelligence tools, you can evolve and grow with technology, making it possible to not only stay afloat, but sink the competition.
Don’t have BI Tools?
TIGI has partnered with Grinderbox Technologies to develop BI tools for clients of various sizes. Using the best of breed technology and effective intelligent BI design, TIGI and grinderbox can provide some surprising results.