Word of the week: predictive analytics
Predictive analytics enables us to forecast what might happen in the future from statistical analysis of historical and current data. It involves searching through massive amounts of data and analyzing that information to determine patterns and predict future outcomes and trends. Predictive analytics is used in all sorts of businesses, but it has recently become a popular buzz word within the healthcare IT industry. Predictive analytics in a health system can aid in improving patient care, chronic disease management, hospital administration and supply chain efficiencies. It can measure clinical, patient safety, cost and patient satisfaction processes and outcomes. While there are differing opinions on the benefits of predictive analytics, some researchers even believe predictive analytics can eventually lead to in forecasting when they can expect a patient’s next serious medical episode.