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Weds Data2Info Bridgewater

Data is raw facts without meaning, while information organizes data into useful collections. Knowledge comes from experience and study. Business intelligence uses past, present, and future knowledge to set strategic targets and continuously improve by capturing more relevant data, analyzing information using key performance indicators, monitoring outcomes, and identifying alternatives. The intelligence cycle is ongoing as more data leads to new goals, processes, and understanding.

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54 views16 pages

Weds Data2Info Bridgewater

Data is raw facts without meaning, while information organizes data into useful collections. Knowledge comes from experience and study. Business intelligence uses past, present, and future knowledge to set strategic targets and continuously improve by capturing more relevant data, analyzing information using key performance indicators, monitoring outcomes, and identifying alternatives. The intelligence cycle is ongoing as more data leads to new goals, processes, and understanding.

Uploaded by

walaba06
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Data<Information<Knowledge

Business Intelligence in Medicaid


Data<Information<Knowledge

Data vs. Information What is the


Difference?
Knowledge is Power!
The Intelligence Cycle
Data vs. Information

Traditional View of Data Consumption

Data

Information

Definition: A raw collection of facts which
can exist in any form without particular
meaning, sequence or usability

Source: Captured from transactions


  
Definition: Relational groupings of data
which turn raw facts into useful, meaningful
collections

Source: Captured from data analysis and


aggregation
 

Definition: The sum or range of what has
been perceived, discovered, or learned
leading to familiarity, awareness, or
understanding.
Source: Captured through experience or
study.
Data vs. Information vs. Knowledge

Data:
Operational Metrics
How many providers enrolled this week?

Information: Data vs. Information


Tactical Metrics
How many OB/GYNs are participating in Wabash County?

Knowledge:
Strategic Metrics
Provider Network Adequacy (42 CFR)
Knowledge is Power!

What do we know?
What do we need to know?
How do we learn it?
The Intelligence Cycle

Intelligence
Uses past, present, and
future knowledge to
formulate strategic vision
and affect continuous
quality improvements
The Intelligence Cycle

Intelligence:
Matching strategy to outcomes
1. Set Strategy targets
2. Change processes/data capture
3. Group and analyze information
4. Monitor outcomes against targets
5. Identify and apply alternatives
1. Set Strategy Targets

Health Care Strategy: Improve outcomes for


certain medical conditions.

 Example: Decrease birth defects and


morbidity rates for newborns
2. Change processes/data capture

Enhance data/data granularity captured


through operational processes
Expand data store to accommodate new data
needs
o Example: Monitor prescription usage of
expectant mothers.
3. Group and Analyze Information

Use Key Performance Indicators (KPIs) to


Group and Analyze data
KPIs are critical business metrics defined at the
operational, tactical, and strategic levels,
allowing for continuous enterprise-wide
improvements based upon proper use of data
o Example: Identify which prescription
medications correlate with higher birth
defect/morbidity rates.
4. Monitor outcomes against targets

KPIs shape data and information in defined,


meaningful terms to coordinate knowledge with
goals and objectives
Business Intelligence tools allow for monitoring
of KPIs
 Example: Use KPI reporting, charts, graphs, etc. to
compare trends over time
5. Identify and apply alternatives

Additional or refined methods for achieving


existing goals is identified based upon
information collected.
 Example: Make recommendations for

alternative medications or limitations on


certain prescriptions.
The Intelligence Cycle

And the Cycle


Continues
As more data is captured
and more information is
analyzed, additional
goals and objectives
are be identified, which
result in changes to
processes and data
capture.

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