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Data Is The New Oil

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Back in 2006, British mathematician Clive Humby coined the phrase, “Data is the new oil”. Like oil, data is a valuable resource that can be mined, refined, and used to drive economic growth and power various industries. Just as oil has transformed many industries and societies, data is transforming the modern world by providing valuable insights, driving innovation, and enabling new forms of efficiency and automation.


Like oil, data can also be used as a source of fuel for artificial intelligence, machine learning, and other advanced technologies, further increasing its value and importance.


In the healthcare industry, this analogy has been proven true over and over as data now holds enormous value and empowers care teams around the globe.

Business intelligence (BI) tools play an important role in the realm of virtual care by helping healthcare organizations make data-driven decisions. With the increasing use of virtual care platforms, there is a wealth of data generated, including patient demographics, treatment histories, and outcomes. BI tools help collect, process, and analyze this data, giving healthcare organizations valuable insights into patient needs, preferences, and behaviors.


Business Intelligence Tools & Virtual Care


BI tools such as VitalTech Insights, can be used to analyze patient engagement with virtual care services and track patient outcomes over time. This information can be used to optimize virtual care delivery, identify areas for improvement, and drive more personalized, effective care.


VitalTech Insights plays a critical role in making virtual care more effective and efficient by helping organizations turn the vast amounts of data generated by virtual care into easily digestible reports. The contextualized data is turned into actionable insights and allows care teams to make well-informed, proactive decisions.


Ad hoc analyses add additional benefit to the use of VitalTech Insights in virtual care by allowing healthcare organizations to quickly answer specific, one-off questions that may not have been anticipated. This can be particularly useful in the fast-moving, ever-changing world of virtual care where new questions and needs may arise quickly.


For example, if a healthcare organization wants to investigate the impact of a specific virtual care initiative, an ad hoc analysis can be performed to provide immediate insights. This type of analysis can help healthcare organizations make quick, informed decisions and adjust their approach to virtual care as needed.


Additionally, ad hoc analyses can also be used to explore new data sources and discover previously unknown patterns and relationships. This can help healthcare organizations identify new opportunities for improvement and gain a deeper understanding of patient needs and behaviors.


Discover How VitalTech Can Make Virtual Care a Reality


If you are a healthcare provider looking to implement an enterprise virtual care solution that will enhance patient care and allow you to build a digital workforce, contact us today! With VitalCare and VitalTech Insights, care teams will be equipped for faster decision making, leading to quicker assessments and evaluations, and ultimately accelerated deployment of care that will significantly impact our strained caregivers and enhance and expand patient care.

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