In the healthcare industry, the storage and accessibility of service management data has a profound impact on an organization’s operations. For healthcare IT executives, operational excellence means that data is being properly utilized in a way that makes future predictions, reduces turnaround time for analysis and reporting, and provides consistent information on cross-functional activities – unfortunately, these are all areas in which a traditional database will fail.
To achieve operational excellence while gaining a full view of their business, those working in IT operations can transfer data to a enterprise data warehouse (EDW). Because EDWs convert data into a consistent format, even when the data is derived from multiple sources, this leads to enhanced quality and consistency. From there, this provides a holistic view of the business – including risks and opportunities – and bolsters competitive advantage. Additionally, companies that invest in EDWs experience an increase in ROI and deliver better enhanced business intelligence. According to the Data Warehouse Information Center, “By having access to information from various sources from a single platform, decision makers will no longer need to rely on limited data or their instinct. Additionally, data warehouses can effortlessly be applied to a business’s processes, for instance, market segmentation, sales, risk, inventory, and financial management.”
To provide advanced business intelligence and analytics using a EDW, industry leaders ServiceNow and Perspectium joined forces. “Our goal, [by integrating Perspectium], was to integrate data to our EDW for cross-functional and advanced analytics purposes,” explained Venugopal Malyala, senior director of BI, MDM and Analytics for ServiceNow in a webinar. “We have deployed multiple ServiceNow instances for various internal use cases and we are able to bring all this data into one single platform. We’re then able to integrate this data, with ten other sources, and provide analytics for sales, marketing, finance [as well as other departments through predictive solutions.]”
Where traditional databases are ill-equipped to support IT infrastructure advancement and innovation, EDWs support enterprise-wide business needs through enhanced quality, consistency, and improved competitive advantage. Additionally, EDWs provide a 360-degree view of the business enabling healthcare IT operations executives to increase ROI and competitive advantage as well as better understand business opportunities and risks.