Centralizing and Standardizing Data
Centralizing and Standardizing Analytics for a Single Version of Truth
Establishing a single version of truth with a centralized, standardized analytics solution.
Data Analytics Success Story
Explore how a Healthcare Industry Leader eliminated over 50 rogue analytical environments, cultivated a consistent enterprise-wide understanding of their data and KPIs, and broadened the reach and use of data through self-service analytics.
Despite sharing common data, the Healthcare Industry leader’s various analysts didn’t have a common understanding of the data’s meaning, how it should be combined into calculations, or what distinguishes valid from invalid content. Over time, more than 50 independently-developed environments emerged to collect and analyze data.
Consequently, the variation in results from analyses left our client wondering, “what’s the truth?” How could the company unite its analytical efforts and establish a common perspective on critical performance measurement?
By working with the Lightwell Analytics Team, the Healthcare leader transformed the way it collects, models, and analyzes data. The Lightwell solution established a robust metadata repository to promote informational consensus, standardized data models to unify how information is calculated and presented, and a suite of Business Intelligence (BI) analytics to support consistent self-service analysis.
600 million+ Claim, 25 million+ Policy Records
collected, validated, and standardized each day within the solution
3000+ Standardized Data Elements
comprise the new data model and present the client’s data in a common, enterprise format
50+ Rogue Data Environments
eliminated, due to the introduction of the enhanced analytical environment
10+ Years of Historical Information
have been assembled and stored within the solution
Business Challenge: Too Many Cooks, Too Many Kitchens
Metaphorically, a company’s raw data is akin to the individual ingredients one might find within a restaurant’s kitchen. Each element has its unique flavor, expiration date, quality, and storage requirements. However, one must exercise caution when combining these ingredients into a meal.
Improperly stored or mixed, the ingredients can yield unappetizing and/or unexpected cuisine.
Often, rather than attempting to cook, most diners should remain in the dining room to feast on meals prepared by experts, based on approved recipes.
Lacking a central, standardized environment, our client was effectively allowing its analysts to prepare meals freely within multiple kitchens throughout the company. Ingredients were often uninspected, and analyses were often half-baked.
To complicate matters, our client also lacked proper utensils — it did not employ any contemporary business intelligence tools.
The uncontrolled and outdated environment significantly handicapped our client’s ability to analyze operational performance uniformly:
- Critical system data was sporadically collected and stored in a variety of formats (e.g. SAS, MS Access, SQL Server, etc.)
- The absence of centralized, comprehensive metadata allowed analysts from across the company to interpret the meaning of same data element differently
- Key business segments like product, line of business, and customer type did not have standard, enterprise definitions due to a lack of governance and consensus
- Decentralized calculation of critical KPIs by multiple analysts yielded conflicting results
Transformation: The Right Recipe
The Healthcare leader sought a rapid, thorough method of promoting uniform data analysis. It needed properly-stored and inspected ingredients, consistent calculation recipes, a standardized menu of data offerings, and a dining area where users could partake of properly prepared information.
Two decisive factors contributed to their selection of Lightwell to lead the transformation:
- Lightwell’s unique, automated approach to data integration and architecture construction
- Lightwell’s use of multi-dimensional experts in technology and finance to deliver business-optimized solutions
Results: Appetizing Results
With access to a comprehensive metadata repository, the company cultivated a common, enterprise-wide understanding of its data.
Functional units analyzing claim and contract performance now produce and communicate congruent results.
The introduction of interactive, dashboard-based analytics has also promoted a culture of self-service analysis, broadening the reach and use of data within the organization. This has led to dramatic improvements in how the company establishes claim loss reserves and how it negotiates value-based care agreements with providers.
Would you like to save or share this Success Story? Download the PDF version today.
Data Analytics Consulting Services
Lightwell helps organizations improve the way they access, manage, transform, and analyze their data.
Our highly-experienced data analytics consulting team has assisted leading enterprises across multiple industries — including financial services, insurance, healthcare, retail, and manufacturing — in achieving their goals through comprehensive services and solutions for Data Analytics Strategy, Data Management, Business Intelligence, and Advanced Analytics. This includes:
Business Intelligence and Advanced Analytics
Let’s Get Started
Find out how Lightwell can help you create a high-quality data environment, optimized for high-performance analytics, while gaining powerful insights for better decision-making.
Feel free to explore our services on our website, view our data analytics services brochure, or contact us today to discuss your needs. We’ll be happy to help.