The trust in data that Measure Factory provides is critical to organizations. Without trust, there is no point in having business intelligence.
BURLINGTON, Mass. (PRWEB) October 24, 2017
Dimensional Insight, a developer of business intelligence (BI) solutions for complex and highly regulated industries, today announced the launch of Measure Factory, a new automation engine that is designed to accomplish three things:
1) Provide data governance to organizations by automating the creation of business rules.
2) Ensure data integrity by allowing standardized business rules and measures to be used throughout the organization.
3) As a result of this data governance and integrity, allow the organization to trust the data they’re looking at.
In accomplishing these three objectives, Measure Factory helps healthcare organizations in their journey to more effective data-driven decision making.
Leveraging data is critical for survival in today’s rapidly evolving healthcare industry. However, many organizations are still struggling to agree on their data’s single version of the truth, which is hindering their ability to make strategic and timely business decisions. Measure Factory, the newest add-on to the company’s industry renowned Diver Platform™, helps organizations avoid the tedious and often combative task of defining measures by delivering a standard set of measures to all team members and allowing organizations to get a jumpstart on their BI efforts. This ensures that business rules are consistent, clearly defined, and well-documented, resulting in greater data integrity, standardization, and end-user trust.
“Healthcare’s grappling with a big data Catch-22, where organizations are hesitant to trust the information that’s fueling their strategic decision making. Having a data governance capability in place is the best way to overcome these hesitations,” said Fred Powers, co-founder and CEO of Dimensional Insight. “With the launch of Measure Factory, customers are now able to leverage data that is built from consistent and validated business rules, allowing for a better understanding of the numbers and greater acceptance and collaboration across business functions.”
Collaboration is an integral component of Measure Factory. The solution automatically creates a framework for team members to contribute to while each measure is being created, allowing for universal acceptance of definitions and improved buy-in from leadership. According to a recent Dimensional Insight survey of more than 100 CIOs and CMIOs:
- 50 percent of U.S. hospitals named variance in leadership buy-in as a key obstacle during data governance implementation, with a number of respondents naming it as a key reason for adoption delays.
- More than two-thirds of respondents admitted to encountering discrepancies between measures across organizational departments.
- Nearly half struggled with discrepancies across clinical departments, with organizational definitions vs. industry definitions, and with understandings of previously existing business rules.
Once data is validated to team members, a secondary obstacle becomes the universal acceptance of the meaning behind those numbers and the resulting impact they have on the organization.
“Any successful data governance initiative requires a culture change to take place first and foremost, which was the exact case for our organization. It can be frustrating to ask for one number and to get four different numbers back from different people,” said Ken Arnold, analytics manager at Covenant HealthCare, based in Saginaw, Michigan. “Measure Factory lets our team members quickly determine what the source of truth really is, and allows them to come to a consensus on the data’s meaning and what it how it impacts our business strategy moving forward.”
“Measure Factory provides us with consistent definitions of measures – this standardization is critical to the success of our business intelligence deployment,” said Brent Bishop, assistant vice president of strategic planning and business development at Canton-Potsdam Hospital, based in Potsdam, N.Y. “By ensuring data integrity, Measure Factory allows us to use our measures throughout the organization, and we know that employees – regardless of their department or role – are all talking about the same number in the same way.”
“The trust in data that Measure Factory provides is critical to organizations,” said Powers. “Without trust, there is no point in having business intelligence.”
For more information on Measure Factory, visit: https://www.dimins.com/bi-tools/measurefactory/.
About Dimensional Insight
Dimensional Insight is a leading provider of business intelligence (BI) solutions. The company offers a complete portfolio of BI capabilities ranging from data integration and modeling to sophisticated reporting, analytics, and dashboards. Founded in 1989, Dimensional Insight has thousands of customer organizations worldwide. Dimensional Insight’s Diver Platform™ consistently ranks as a top performing business intelligence platform by customers and industry analysts in its core market segments including healthcare, manufacturing and beverage alcohol industries. For more information, please visit https://www.dimins.com.
Dimensional Insight and Diver Platform are trademarks or registered trademarks of Dimensional Insight or its subsidiaries in the U.S. and other countries. Other company names, product names and company logos mentioned herein are the trademarks, or registered trademarks of their respective owners.