Data Analysis

Data analysis is the process of collecting, relating, editing and reporting data, in order to make quicker and more effective decisions. Data analysis is an operation used in many business sectors (also known as Business Intelligence) and health professionals are increasingly recognizing its significance for the healthcare sector. For instance, a Sales Manager in would like to have access to the data concerning him at any time, in a manner that saves time and gives them the opportunity to make effective decisions. Data analysis is the process of collecting, relating, editing and reporting data, in order to make quicker and more effective decisions. Data analysis is an operation used in many business sectors (also known as Business Intelligence) and health professionals are increasingly recognizing its significance for the healthcare sector. For instance, a Sales Manager in would like to have access to the data concerning him at any time, in a manner that saves time and gives them the opportunity to make effective decisions. Some metrics that the manager would like to know are different offices’ sales and their rankings based on real-time data, i.e. whenever new data are being added to the database, the report seen by the manager changes and depicts new information. This report is tailor made to the manager’s specific need and can have various functions.For example, if the user clicks on a product’s sales, they have access to individual data (sales targets, if they were fulfiled etc).

Some metrics that the manager would like to know are different offices’ sales and their rankings based on real-time data, i.e. whenever new data are being added to the database, the report seen by the manager changes and depicts new information. This report is tailor made to the manager’s specific need and can have various functions.An effective data analyst constructs Key Performance Indicators (KPIs) which are benchmarks for the organization’s goals.Depending on what we would like to see and make the appropriate decision, we select the KPI that applys to the case.

Moreover, we would like to change the data viewing depending on the variable (e.g. quarterly income or income per brand).

We can also isolate a variable (e.g. a product or a specific year). If, for example, we click year 2009, we will get data exclusively for that year.

KPI are really important for the organization, because through them we quantify the organizations strategy and we rank its targets. Using KPIs we control the targets’ progress and their fulfillment rate. Thus, we create a scorecard for both the total plan and the individual targets of the organization.

Of course, the same philosophy applies to health organizations as well. Health organizations have to set goals, use metrics (KPIs) for control, use reports for better decision making and utilize their data for the benefits that data analysis can provide, i.e. cost reduction, more effective decisions and quick response to several situations.