Cedar Gate Analytics Release v12.4 now gives Executive Analytics users the ability to view, run, bundle, and schedule two new standard dashboards. The Financial Overview and Savings Opportunities Dashboards have been added to the Executive Analytics list of standard, out-of-the-box dashboards that can be accessed by navigating to the Financial dashboard category within the application. The addition of these two dashboards further extends the user’s ability to easily obtain real-time insights into key performance indicators. The functionality delivers prescriptive analytics, which means users spend less time making the data comprehensible and can focus on making informed decisions that positively impact performance.
One of the challenges of having vast amounts of data at the fingertips is the ability to extract meaningful information without being overwhelmed by the extensive volume and variety of data being presented. According to a survey by HealthLeaders, 82% of healthcare finance leaders report that they lack the advanced data management tools needed to drive intelligent decision-making. Although they report having greater access to data, they find they need to do more with that data to help drive business decisions and improve the quality of care. Additionally, nearly two-thirds of survey respondents report current reliance on outdated tools such as spreadsheets further hamper their efforts. For most, effective data utilization remains a challenge. There are strong indicators that point to the need for insights to guide decision-making based on previous outcomes. Nearly half (46%) of survey respondents see the need to leverage scenario modeling and rolling forecasting capabilities to better manage crises, such as the COVID-19 pandemic, going forward and maintain financial stability in the long-term.
