Business organizations produce large volumes of data from their operations and also routinely collect much more information from the environment. In fact, data is the most important asset for any organization, but not in its raw form. Business Intelligence (BI) is the process of converting organizational data into organizational wisdom. The analytical tools convert data into Business Intelligence. The tools include Data warehouses, data Mining Tools and OLAP tools. Without analytical capability, customer-facing activities like CRM also cannot be effective. BI has become a strategic weapon, which has been found to be useful in all functional areas. This article examines the concept of BI, its applications, the tools and their functionality.

Consider this that not even a single day passes, without some negative news being published in the media, regarding healthcare industry in general.

Most of this news is regarding issues like medical errors resulting in fatalities, poor patient care, raising cost, etc. Media supports its news with statistics and patient experiences. Your organization is one of the leaders in healthcare. You have an excellent record of providing quality healthcare with very low medical errors. However, unfortunately for you, your organization is also becoming victim of negative publicity in the media. Under such adverse publicity, most healthcare organizations tend to take a defensive reactive approach. Your organization in fact, can convert this general adverse publicity about healthcare industry, to your advantage, provided you have the right data and strong analytical tools. The tools that can help you in such situations are Business Intelligence (BI) tools.

These tools have very advanced analytical capabilities. Supported by the information provided by these tools, your organization can proactively send across a strong message as to how your organization is different and convert an adverse situation to your advantage, thus proving that you are head and shoulders above the rest. The foregoing is one of the many benefits BI can accrue to the organization.

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