Businesses in almost every sector need data about their customers and operations to optimize their processes. Data warehouses are quickly becoming the standard for industries that are heavily reliant on data, as they are able to create a centralized and easily accessible repository for all relevant information. The healthcare industry especially stands a lot to gain from data warehouses, due to the vast amount of data they produce (30% of the world’s total data).
Healthcare organizations’ current data storage processes have some significant inefficiencies. Knowledge experts are expected to sift through many disparate sources to track down the data they need, including census, clinical, reimbursement, staffing, and financial data. A large organization will have an average of 367 software tools in use, which can create a huge amount of login fatigue for employees.
Data warehouses can streamline this process quite dramatically. However, many healthcare companies are hesitant to invest the time, money, and resources into building their own data warehouse, especially given that internal teams can take 12-36 months to construct a functioning data warehouse. Third party warehouses are a great alternative, as they often come with pre-built models and take only 90 days to fully integrate. These third party solutions also offer trusted experts who are available to support every step of the way.
Source: MegaData
