Unaddressed Shortcomings in Medical Diagnosis Analysis
In today's data-driven world, businesses are increasingly reliant on analytics to make informed decisions. However, a common challenge faced by many organizations is the gap between descriptive and diagnostic analytics, which hinders their ability to gain comprehensive insights and take actionable recommendations.
Descriptive analytics, primarily used in most organizations, focuses on what's happening. It provides a summary of past events through dashboards and reports. On the other hand, diagnostic analytics delves deeper, aiming to understand why things are happening. Unfortunately, diagnostic analytics often lies overlooked due to its complex nature.
In State 1, businesses are stuck in the "what," lacking a data culture to drill down into the why. Companies in State 2 often only test a few "usual suspects" for understanding why metrics change, leading to missed opportunities. In State 3, businesses struggle with the speed-comprehensiveness trade-off in diagnostic analytics, despite understanding its value.
To address these challenges, businesses should integrate automated, AI-driven guided insights. These insights not only summarize what happened but also explain why it happened and suggest next steps aligned with business goals.
Key strategies include automated discovery and explanation, seamless integration into workflows, advanced diagnostic techniques, natural language interaction and proactive narratives, skill development and tool mastery, and bridging to prescriptive analytics.
Automated Discovery and Explanation uses AI-powered guided insights that identify trends, anomalies, or patterns automatically, providing explanations in natural language. This makes complex diagnostic analysis accessible to all users regardless of technical background.
Seamless Integration into Workflows embeds these insights within business systems, enabling immediate action based on the findings, eliminating silos between insight discovery and execution.
Advanced Diagnostic Techniques employ statistical inference, correlation matrices, drill-down explorations, and cohort analyses to uncover causal relationships and reasons behind observed outcomes.
Natural Language Interaction and Proactive Narratives leverage NLP interfaces to allow stakeholders to query data in plain English and receive both explanations and recommended next steps proactively, helping move from insight to decision faster.
Skill Development and Tool Mastery build capabilities that span descriptive to diagnostic analytics, including data storytelling and tool expertise for uncovering deeper insights and communicating them clearly to decision makers.
Bridging to Prescriptive Analytics uses prescriptive techniques that build on diagnostic insights to recommend optimal actions using optimization algorithms and scenario planning, driving business impact through analytics-driven decisions.
By combining AI-assisted interpretation, integrated workflows, and advanced analysis methods, companies can transition from simply understanding “what happened” to grasping “why it happened” and “what to do next,” enabling comprehensive data-driven strategies and more effective business outcomes.
João Sousa, the Director of Growth at Kausa, emphasizes the importance of closing the gap between descriptive and diagnostic analytics. He says, "Understanding what drives KPIs and why they are changing is crucial for making better decisions."
As we continue to navigate the ever-evolving business landscape, staying ahead of the curve in analytics is key. So, stay tuned for more posts on how to improve diagnostic analytics and increase the value of data.
[1] Gartner, "Predicts 2022: Augmented Data Discovery Will Be a Key Driver of Data and Analytics Modernization," 2021. [2] Forrester, "Now Tech: Data Storytelling Platforms, Q3 2021," 2021. [3] SAS, "Data Mining: Concepts and Techniques," 2009. [4] MIT Sloan Management Review, "Prescriptive Analytics: The Next Wave of Decision Making," 2013. [5] McKinsey & Company, "The art and science of prescriptive analytics," 2018.
Read also:
- Musk threatens Apple with litigation amidst increasing conflict surrounding Altman's OpenAI endeavor
- Innovative Garments and Accessories Producing Energy: Exploring Unconventional Sources for Renewable Power
- Latest Automotive Update, August 13: Introducing Ola Electric's latest scooters, MG Windsor EV sales hitting new highs, Mahindra BE 6 teaser unveiled, and more...
- Digital Commerce Giant Clips Unveils Its Latest Offering, Clip Ultra, Fortifying Its Dominance in Mexico's Market
