If you are reading this article, it is more than likely that you understand the value of data. But what are you actually doing with it?
We can look back as far as the 19th century to find an example of data-driven insight, when John Snow presented data from the 1854 cholera outbreak as the basis for his belief that epidemic diseases were transmitted by water, not air.
However, almost 170 years later, a staggering 97% of data sits unused by organisations, and less than 1% of that data is actually analysed and applied to achieve meaningful benefits. This represents a huge missed opportunity, particularly in healthcare and healthcare procurement.
There are a number of reasons why data is not being used to its potential, despite the fact that nine out of ten business leaders want to make greater use of it. These include factors such as poor data literacy and planning, an unclear data strategy, or the absence of a roadmap. But among the most significant, is the lack of data connectivity.
Across the NHS, a huge amount of data sits in silos. This data can provide us with a good level of insight once it is analysed. But, in order for siloed data to become transformative, to enable better decision making and user experience, it needs to be connected with other data sets and be made readily available from a single source.
Through the application of Procurement Dashboard, AdviseInc has been connecting data for years, and has delivered wide-scale benefits to the organisations we work with. In fact, we pull together more procurement datasets than anyone else; inventory management, purchase orders, accounts payable, contracts, catalogues, and third party outsources are all part of our analysis.
The results speak for themselves. We’re proud of how we have been able to support ICS teams across the country by giving them greater control over their data and spending, while also driving efficiency across the board.
“”Showing that the procurement team has an analytical tool that can provide this level of insight gives us credibility. So, it really helps me to present updates and opportunities.””
— David Lawson, Chief Procurement Officer, Guy’s and St Thomas’ NHS Foundation Trust
If you’d like more information about how we’re using data connectivity to improve our Procurement Dashboard, contact us on firstname.lastname@example.org.
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