Business Intelligence in Healthcare Industry
Introduction
Business intelligence has become a significant aspect of the modern world. It includes various techniques, tools, methods, and strategies that help business practitioners convert raw data into meaningful pieces of information, improving the performance of companies that apply business intelligence to their activities (Business Integrity Services, 2021). The concept can be exceptionally effective in the healthcare industry because of the major amounts of data it has to work with and the significance of medical activities for the human world.
The mentioned facts can explain why researchers anticipate that the healthcare business intelligence market will expand from 2020 to 2030 by 16.10% as per the compound annual growth rate (GlobeNewswire, 2022). Thereby, the primary research question of this paper is how new digital technologies are changing the business models that firms use. This is important because these ideas can be used to develop radical new types of business models. In addition, the paper discusses the benefits that business intelligence provides to the healthcare industry. It appears that the usage of business intelligence digital models such as customer decision journey, product-service system, and online analytical processing can be effective in the healthcare sector.
The Theory Models Utilized
Theory Model 1: Customer Decision Journey
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