In a report issued by Gartner[i] nearly one third of organizations either already use or plan to use cloud-based analytic offerings to augment their core business intelligence (BI) functions. The report suggests end users of computing software can be frustrated by long deployment cycles, costs, complicated upgrade processes and complex IT infrastructures required by on premise BI solutions. Cloud-based offerings are perceived to be quicker, potentially less costly and easier to deploy. The report1 highlights three major drivers for the adoption of cloud-based analytics:
- Time to value: The use of cloud analytics may lead to faster deployments, allowing insights and value from the data to be extracted quicker; particularly as the IT staff is constrained by existing workloads and limited budgets to respond to the demands for information.
- Cost Concerns: Software purchased as a service is perceived to be cheaper versus capitalized cost on the balance sheet, preferring operational budgets to fund BI projects. Also longer term cost benefits play out with a reduced need for IT support staff and the need to maintain on premise IT infrastructure.
- Lack of expertise: Cloud-based service models offer pre-built shared expertise and intellectual property that can help healthcare providers compensate for their lack of data analytic skills, which is needed to drive clinical, operational and financial insights.
As computing power, data storage and network bandwidth have improved to allow modern analytics and data simulations to occur in the cloud, the healthcare industry has started to recognize how these tools can be deployed to garner insights quicker. However, it’s likely that the analytics and data scientist expertise needed to produce these insights, will soon outpace a hospital’s ability to provide this capability to the extent needed within their own facility. Greater demand is being placed on providers to improve patient outcomes, reduce costs and deliver more efficient healthcare services. Data and analytics are asked to provide the insight to help drive these needed improvements, and cloud-based platforms may offer viable alternatives to make this happen quicker. And it needs to happen quicker.
GE Healthcare is well positioned to help healthcare providers deliver analytic insights. Using modern cloud analytics platforms powered by GE PredictivityTM, GE Healthcare has both the analytic platforms, and the detailed knowledge of the software and equipment data sets it supports across many healthcare domains. This enables GE Healthcare to produce clinical, financial and operational insights in the form of dashboards, key performance indicators (KPI’s) or actionable alerts, and then share these insights with customers. As new insights are garnered, momentum is gained by continually sharing and distributing these insights. Opportunities are created to compare KPI’s and to share best practices. A good example would be for chief medical officers to compare the KPI’s of their radiation dose management programs with other provider running similar programs. This would allow shared learning to enhance dose programs to make imaging more efficient for patients. It’s an exciting time for healthcare and analytics.
Would love to hear what you think.
[i] Analysts Explore Cloud Analytics at Gartner Business Intelligence Summit 2012 in London, Sydney and Los Angeles