Analytics, Business Intelligence, Healthcare, Posts
Perioperative Analytics: Exploratory Data Analysis in the OR (Part 4 of 4)
I am now entering the final phase of this blog series, in which I am delving into the analytics of knee replacements at one hospital. You can access the first three posts in this series here: part 1, part 2, part 3. The Seven Bridges of Königsberg to the Rescue Leonard Euler’s 1736 paper on…
Analytics, Business Intelligence, Healthcare, Posts
Perioperative Analytics: Exploratory Data Analysis in the OR (Part 3 of 4)
After having painstakingly gone through all the legal, procedural, and data engineering pain points that I described earlier, I now have in my possession a data set from a hospital system that I can eagerly sink my exploratory analytics teeth into. The data, which is now ingested, formatted, prepared, cleansed, combined, scaled, and loaded in…
Analytics, Business Intelligence, Healthcare, Posts
Perioperative Analytics: Exploratory Data Analysis in the OR (Part 2 of 4)
In part 1 of this four-part blog series, I invited you, the reader, to join me on a data-driven journey: Exploratory Analysis and Discovery in the OR. The goal was to discover whether there were any business process insights that may be leveraged from the hospital supply chain at the point of use. I also…
Analytics, Business Intelligence, Healthcare, Posts
Perioperative Analytics: Exploratory Data Analysis in the OR (Part 1 of 4)
The vast swathes of data being collected in modern health systems suggest that perioperative analytics (or OR analytics) are at the ready. The truth is that extracting meaningful information from all those data points takes some coordination and a little exploration. Let's take a look at the exploratory data analysis that underscores analytics, and the different 'flavors' of perioperative analytics, from descriptive and diagnostic to predictive and prescriptive.
Analytics, Business Intelligence, Demand Planning and Forecasting, Healthcare, Posts, Supply Chain
Supply Chain and Finance: Shared Metrics Drive Business Success
In the January-March 2018 issue of APICS magazine, APICS CEO Abe Eshkenazi contends that if supply chain leaders bring business success then that makes them business leaders. Mr. Eshkenazi goes on to state “organizations that consider their supply chains as strategic and competitive assets outperform the market”.
Analytics, Business Intelligence, Demand Planning and Forecasting, Posts, Supply Chain
How Do You Feel About Predictive Analytics?
I just read a blog post entitled How do you feel when someone mentions predictive analytics? Well, I feel like it’s a good thing. How about you?
Analytics, Business Intelligence, Posts, Supply Chain
Evil A/R Threatens Cash Flow – Time to Fight Back
Given that accounts receivable (A/R) are essentially zero interest loans extended to customers, one might be forgiven for considering credit sales a necessary evil. Maybe one day crypto-currencies like Bitcoin will replace all other forms of payment, but in the meantime many companies have a ton of cash tied up in receivables. So how evil is your A/R?
Analytics, Business Intelligence, Posts, Supply Chain, Warehouse Management
Get Down to Brass Tacks
A lot of focus has been placed on advanced and predictive analytics, and rightfully so. I have written many posts and have spoken publically on the merits of advanced analytics for several years now. What I find disorienting and misleading are marketers harping on how important it is to adopt advanced analytics right now. The thing that they just don't get (or maybe they don't want to get?) is that an organization will need to transcend a series of analytical maturity levels before they can truly capitalize on the benefits of advanced and predictive analytics.
Analytics, Business Intelligence, Healthcare, Posts, Supply Chain, Warehouse Management
Competing on Data Talent
In my last post, I introduced the longitudinal study that MIT Sloan Management Review has been conducting over the past five years. From 2010 to 2012 they indicated that 67% of those surveyed believed that analytics gave their organizations a competitive edge. In 2013, that figure stabilized at 66% revealing the so called 'Moneyball Effect' where leaders lost their competitive edge that they once enjoyed because followers matured and made analytics core competencies. In 2014, that trend continued, falling to 61%.
Analytics, Business Intelligence, Posts, Supply Chain
Competing on Data
By now, most of you have probably heard of, or read, the book entitled Competing on Analytics by Thomas Davenport that demonstrates how some of the most successful organizations in the world have made analytics a core capability and integral to their strategic planning. MIT Sloan has been tracking this phenomenon since 2010 echoing Davenport's findings. From 2010 to 2012 they indicated that 67% of those surveyed believed that analytics gave their organizations a competitive edge. However, in their last installment of their longitudinal study, something interesting happened. Something that I like to call the 'Oakland Athletics Effect'.
Analytics, Business Intelligence, Healthcare, Posts, Supply Chain, Warehouse Management
Big Data – Synthesis
In 2013, Gartner conducted a survey on Big Data Adoption in Supply Chain Industries and found that adoption has been flat and is lagging behind the overall adoption rate of other industries such as banking, insurance, and retail to name a few. Gartner ascertained that these characteristics pertaining to the Supply Chain industry are attributable to an inherent lack of understanding of what Big Data truly is and a fundamental lack of the required skill sets. This, in essence, is the challenge facing the Supply Chain industry.
Analytics, Business Intelligence, Posts, Supply Chain, Warehouse Management
Big Data Implications
Big data and big data analytics pose a series of implications and challenges. Organizations that seek to become analytical competitors must have an established analytics culture consisting of well trained employees who are using the right enabling technologies. However, these organizations face challenges maintaining consumer privacy while they collect and use sensitive information.
Analytics, Business Intelligence, Posts, Supply Chain, Warehouse Management
Big Data Analytics
Big data is all around us. As we have seen, big data is characterized by its volume, velocity, and variety (the infamous three 'V's). Great, you have a lot of data...now what? Well, these untapped 'dark data assets' give rise to vast opportunities for those organizations that seek new ways to compete. Studies have shown that organizations that compete on analytics by focusing on their core competencies fare much better than those who do not. Some have gone so far as to call big data the ‘new oil’. In part two of this four part series, we will take a closer look at big data analytics.
Analytics, Business Intelligence, Posts, Supply Chain, Warehouse Management
Big Data Demystified
With the advent of big data, organizations are beginning to recognize the impact that big data and analytics can have on their ability to compete in their respective industries. In a recent study by MIT and the SAS Institute, 67% of leading organizations firmly believe that analytics give them a competitive advantage. This recognition has revealed that it is not only about the volume, velocity and variety of the data at hand, but having the right culture, skillsets, and technologies in place, while respecting the privacy of consumers. This post will be the first of a four part series aimed at demystifying the term 'big data', and touching on opportunities, implications and challenges related to big data.
Analytics, Business Intelligence, Healthcare, Posts, Supply Chain
The Hierarchy of Healthcare Supply Chain Metrics
In my July post, I introduced the 'Hierarchy of Supply Chain Metrics', which is a framework of supply chain metrics conceived by Gartner, the world's leading information research and advisory company. The model provides 3 tiers of integrated metrics to assess, diagnose, and correct supply chain performance, and is a great example of what constititutes a supply chain scorecard.
Analytics, Business Intelligence, Posts, Supply Chain
Tecsys Analytics with WERC Benchmarks
It has been said that you can't manage what you can't measure. In the world of analytics, this is our daily mantra. However, as succinct as the statement may be, you can't help wondering if it is missing something — a little something called perspective.
Analytics, Business Intelligence, Posts, Supply Chain
The Hierarchy of Supply Chain Metrics
Since 2010, Gartner, the world's leading information technology research and advisory company, has been publishing an annual report entitled 'Gartner Supply Chain Top 25' which ranks organizations that demonstrate leadership in supply chain management. In each of these reports, the 'Hierarchy of Supply Chain Metrics' is positioned as the ideal set of metrics to measure supply chain operational performance. To emphasize Gartner's stance, the subtitle reads: 'The Metrics We Wish We Had'.
Analytics, Business Intelligence, Healthcare, Posts, Supply Chain
3 Stages of Hospital Supply Chain Management (SCM) Maturity
Having been involved in the development of a pan-Canadian Electronic Health Record, I have a keen interest in how healthcare benefits from standardized policies and technologies designed to reduce healthcare costs and improve patient outcomes and safety through improved synergies and efficiencies. My interest also extends to the hospital supply chain. With inventories representing 30% of hospital costs, second only to labor costs, there are huge gains in organizational performance that can be had through better supply chain management.
