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Analytics in Healthcare and the Life Sciences: Strategies, Implementation Methods, and Best Practices by Thomas H. Davenport, Dwight McNeill

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8. Business Value of Health Analytics

Patricia Saporito

The business value of healthcare analytics, and how to determine it, have been a top priority for those who espouse the importance of analytics. According to a study by Nucleus Research, there is an annual revenue increase possibility if the median Fortune 1000 business increased its usability of data by just 10%, translating to a $2 billion opportunity. The same study states that there is a 1000% return on investment (ROI) for organizations that make analytic investments. The spotlight on analytics continues to shine especially in light of increased expectations driven by the Big Data momentum and its least touted “V”—value.

Analytics in healthcare have been providing value but have largely ...

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