The EIM team will have to develop a business case for Business Intelligence activities at St. Rita’s. To help them do this, develop a preliminary business case draft aka a report. The business case should include the following elements:
- Description of Business Intelligence (What is the purpose of business intelligence?)
- Drivers for conducting Business Intelligence. What are some drivers/reasons for launching a BI effort? Ex: one driver is governmental and another is industry.
- Anticipated benefits of Business Intelligence (Ex: being able to be proactive instead of reactive because of the data analysis).
Expert Solution Preview
Introduction:
Developing a business case for Business Intelligence (BI) activities is crucial for any organization to ensure effective decision-making. As a medical professor, I can guide medical college students on how to create a preliminary business case draft that includes the purpose of BI, drivers for conducting BI, and anticipated benefits of BI.
Answer:
– Business Intelligence refers to the use of data analytics, reporting, and visualization tools to turn raw data into meaningful insights for effective decision-making in an organization. BI aims to provide timely and accurate information, support strategic planning, and improve operational efficiency.
– Some drivers for conducting Business Intelligence could be government regulations to comply with data privacy laws, competition to stay ahead in the market, identification of new business opportunities, and cost optimization. For instance, healthcare organizations can benefit from BI by tracking the patient’s health data to provide personalized treatments and reduce readmission rates.
– The potential benefits of BI can be several, such as improved decision-making, better planning and forecasting, reduced risks, enhanced customer satisfaction, and increased productivity. BI can help healthcare professionals in patient care management, tracking patient outcomes, managing referral networks, and optimizing resource allocation. By analyzing data and detecting patterns, healthcare providers can develop interventions to improve patient experiences and outcomes.
