This finding -a majority of survey respondents agree strongly about the need to step analytics use up -holds true across a variety of industries. The authors report that a number of companies are sharing their information and analytics with business associates in order to meet strategic business objectives.
For instance, WellPoint, a U.S. health insurance company based in Indianapolis, Indiana, is using analytics to help forge a payment model with doctors that rewards suppliers when they reduce overall health-care costs and improve quality and health outcomes. Particularly, WellPoint is converting administrative claims and authority data into valuable advice about populations of patients and sharing that info with their care teams and doctors. The survey data indicates that businesses for which the ability has been enhanced by analytics are more inclined to share data with providers and partners.
Half of this year's survey respondents strongly or somewhat agree that analytics is helping their organization innovate -and 16% believe that strongly.
Those survey respondents who strongly agree that analytics is helping their organization innovate are far more likely to say they collaborate with providers and partners through the usage of analytics than respondents who actually don't think that analytics is helping their business innovate. The authors reason that as businesses use analytics to improve their capability to innovate, additionally they tend to collaborate more through their utilization of analytics: Analytics becomes an important medium by which organizations interact with both external and internal stakeholders. Therefore, organizations that innovate thanks to analytics don't only raise their use of analytics in decision making; they also alter the way they act as
Raising the Bar With Analytics Case Study Solution
PUBLICATION DATE: January 01, 2014 PRODUCT #: SMR471-PDF-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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