Regardless of size, the challenges experienced by today’s LTC pharmacies require decisions based on factual, real-time data as a necessity for success. Contributing writer Matt Crum sums it up perfectly in his Pittsburgh Business Times article:
“Here’s where the seat-of-the-pants and the more traditional schools of decision making fall short:
- “Intuitive” decisions, often made in smaller organizations that have not invested in business intelligence tools, tend to be based on personal experience and preferences, lacking a sounder basis in internal and external data. Once decisions are made, there may not be adequate monitoring and analysis to either verify or disprove their validity, creating what may become a recurring loop of poor decision making.
- Traditional decision making may lack the timeliness – and even immediacy — that business intelligence tools can provide. Relying on reports that may be 30 days old or more, without the ability to dive deeper into causal variables, won’t keep a company as competitive as it should be.
Dashboards, however, have multiple benefits for businesses large and small.
- Dashboards can consolidate data from other operational systems that presently don’t communicate with each other.
- A dashboard, if created properly for operations, sales and other functions, can be a one-time expense, unless or until you choose to tweak it.
- Dashboards can actually save money, reducing the need for internal staff to be creating and monitoring costly reports.
- Dashboards provide fact-based, real time data — limited in quantity and quality only by your customization — that support timely and well-informed decision making.”
SoftWriters business intelligence module, FrameworkBI™, offers affordable, real-time access to your pharmacy data. Intentionally designed as a stand-alone module, FrameworkBI enables anyone in your organization to be a reporting expert with an intuitive interface that provides quick data access via live dashboards and saved reports. These dashboards and reports provide a clear view into the performance and workload for your operations, billing and finance departments.