Business Analytics in Healthcare
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How can you use Business Analytics in Healthcare field? Include an example of a mathematical model and explain it.
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The solution provides an explanation of how business analytics can be used in a healthcare field.
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Since business analytics calls for decision making driven by the use of data, there are many applications for healthcare and healthcare organizations. The data used is as an analysis method to help find decisions for business goals. It is often supported by statistics and data acquired from past information.
Looking at healthcare specifically, an organization may have the goal of increasing bed space, improving use of operating rooms, expanding the heart section of the hospital, or increasing the number of doctors practicing in the hospital or nursing facility. The organization may also have questions about performance, why did an event happen, what is the likelihood of it happening again, or what can be changed to keep an event from happening. In some facilities, a certain type of patient with specific problems uses the facility and the organization does not realize this. Use of data mining to discover new patterns that might mean an opportunity to promote that type of patient care, improving profits.
A specific example might be the use of operating rooms to ...
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