Tag Archives: ROI
Healthcare organizations are currently engaged in major transformative initiatives. The American Recovery and Reinvestment Act of 2009 (ARRA) provided the healthcare industry incentives for the adoption and modernization of point-of-care computing solutions including electronic medical and health records (EMRs/EHRs). Funds have been allocated, and these projects are well on their way. In fact, the majority of hospitals in the US are engaged in implementing EPIC, a software platform that is essentially the ERP for healthcare.
These Cadillac systems are being deployed from scratch with very little data being ported from the old systems into the new. The result is a dearth of legacy applications running in aging hospital data centers, consuming every last penny of HIS budgets. Because the data still resides on those systems, hospital staff continues to use them making it difficult to shut down or retire.
Most of these legacy systems are not running on modern technology platforms – they run on systems such as HP Turbo Image, Intercache Mumps, and embedded proprietary databases. Finding people who know how to manage and maintain these systems is costly and risky – risky in that if data residing in those applications is subject to data retention requirements (patient records, etc.) and the data becomes inaccessible.
A different challenge for CFOs of these hospitals is the ROI on these EPIC implementations. Because these projects are multi-phased, multi-year, boards of directors are asking about the value realized from these investments. Many are coming up short because they are maintaining both applications in parallel. Relief will come when systems can be retired – but getting hospital staff and regulators to approve a retirement project requires evidence that they can still access data while adhering to compliance needs.
Many providers have overcome these hurdles by successfully implementing an application retirement strategy based on the Informatica Data Archive platform. Several of the largest pediatrics’ children’s hospitals in the US are either already saving or expecting to save $2 Million or more annually from retiring legacy applications. The savings come from:
- Eliminating software maintenance and license costs
- Eliminate hardware dependencies and costs
- Reduced storage requirements by 95% (data archived is stored in a highly compressed, accessible format)
- Improved efficiencies in IT by eliminating specialized processes or skills associated with legacy systems
- Freed IT resources – teams can spend more of their time working on innovations and new projects
Informatica Application Retirement Solutions for Healthcare provide hospitals with the ability to completely retire legacy applications, retire and maintain access to archive data for hospital staff. And with built in security and retention management, records managers and legal teams are satisfying compliance requirements. Contact your Informatica Healthcare team for more information on how you can get that EPIC ROI the board of directors is asking for.
During Informatica World in early June, we were excited to announce our new Potential at Work Community. You can read Jakki Geiger’s blog introducing the Community to learn more about the goals for this great resource. (more…)
Science fiction represents some of the most impactful stories I’ve read throughout my life. By impactful, I mean the ideas have stuck with me 30 years since I last read them. I recently recalled two of these stories and realized they represent two very different paths for Big Data. One path, quite literally, was towards enlightenment. Let’s just say the other path went in a different direction. The amazing thing is that both of these stories were written between 50-60 years ago. (more…)
Recently, the Informatica Marketplace reached a major milestone: we exceeded 1,000 Blocks (Apps). Looking back to three years ago when we started with 70 Blocks from a handful of partners, it’s an amazing achievement to have reached this volume of solutions in such a short time. For me, it speaks to the tremendous value that the Marketplace brings not only to our customers who download more than 10,000 Blocks per month, but also to our partners who have found in the Marketplace a viable route to market and a great awareness and monetization vehicle for their solutions.
There has been a lot of discussion around the explosion of data and what it means to companies trying to leverage this extremely valuable resource. Informatica has a huge part to play in helping customers solve those problems not only through the technologies we provide directly, but through the tremendous ecosystem that we have built through our partners. The Marketplace has grown to more than 165 unique partner companies, and we’re adding more every day. Blocks such as BI & Analytics sing Social Media Data from Deloitte, and Interstage XWand – XBRL Processor from Fujitsu represent offerings from large, established software companies, while Blocks such as Skybot Enterprise Job Scheduler and Undraleu Code Review Tool from Coeurdata are solutions that have been contributed by earlier stage companies that have experienced significant success and growth. It has been a pleasure helping these companies to grow and reach new customers through the Marketplace.
One of the most exciting things about reaching the 1K Block milestone is not just the amount of companies that are on the Marketplace, but the amount of solutions that have been contributed from our developer community. Blocks such as Autotype Excel Macro, Execute Workflow, and iExportNormalizer are all solutions that Informatica developers have built because it helps them in their daily activities, and through the Marketplace they have found a way to share these valuable assets with the community. In fact, over half of our solutions are free to use, which is a ringing endorsement of the power of the community and a great way to try out any number of useful solutions at no risk. By leveraging enabling technologies such as Informatica’s Cloud Platform as a Service, developers can create and share solutions more quickly and easily than ever before.
Overall, it has been an exciting ride as the Marketplace has rocketed to 1,000 Blocks in under three years, and I look forward to what the next three years has in store!
There are organizations truly reaping the rewards of Big Data, and then there are those who are just trying to catch up. What are the Big Data “leaders” doing that the “laggards” are missing? (more…)
Following up on the discussion I started on GovernYourData.com (thanks to all who provided great feedback), here’s my full proposal on this topic:
We all know about the “Garbage In/Garbage Out” reality that data quality and data governance practitioners have been fighting against for decades. If you don’t trust data when it’s initially captured, how can you trust it when it’s time to consume or analyze it? But I’m also looking at the tougher problem of data degradation. The data comes into your environment just fine, but any number of actions, events – or inactions – turns that “good” data “bad”.
So far I’ve been able to hypothesize eight root causes of data degradation. I’d really love your feedback on both the validity and completeness of these categories. I’ve used similar examples across a number of these to simplify. (more…)
When seeking to justify an investment in Product Information Management (PIM) and building the business case, companies can investigate which key performance indicators are impacted by PIM. The results of the international PIM study demonstrate that a return on investment (ROI) from an Enterprise Product Information Management (PIM) solution is possible within the framework of a multichannel commerce strategy.
1. Search engines
60% of web users use search engines to search for products. (Source: Searchengineland.com)
The results of the international PIM study show that a return on investment (ROI) from an Enterprise Product Information Management (PIM) solution is possible within the framework of a multichannel commerce strategy. Over 300 retailers and manufacturers from 17 countries participated in the extensive study by Heiler Software. The study delivers more than 30 pages of measurable results. One such result is that PIM leads to a 25% faster time-to-market thanks to SEO products. (Source: www.pim-roi.com)
3. Shopping cart abandonment
90% of shopping cart abandonments occur because of poor product information. (Source: Internet World Business Magazine)
4. Product returns
40 is the critical number. 40% of buyers intend to return a product when they order it. 40% order more variations of a product. 40% of all product returns are due to poor product information. (Source: Magazine Wirtschaftswoche 7.1.2013 and Return Research – average German mail-order market)
5. Print impacts online
Printed catalogs lead to a 30% boost in online sales. (Source: ECC multichannel survey)
6. Cost savings in print catalog publishing
PIM enables a saving of USD 280,000 by automating manual print catalog production. (Source: LNC PIM survey 2007)
7. In-store sales and customer service
61% of retail managers believe that shoppers are better connected to product information than in-store associates. (Source: Motorola Holiday Shopping Study 2012)
8. Margins with niche products
80% of Heiler PIM customers say they sell at higher margins by pursuing a long tail strategy and increasing assortment size. (Source: www.pim-roi.com)
9. Social sharing
Social sharing generates value. And, on average across all social networks, the value of a social share drives $3.23 in additional revenue for an event each time someone shares. (Source: Social commerce numbers, October 23, 2012)
In my recent white paper, “Holistic Data Governance: A Framework for Competitive Advantage”, I aspirationally state that data governance should be managed as a self-sustaining business function no different than Finance. With this in mind, last year I chased down Earl Fry, Informatica’s Chief Financial Officer, and asked him how his team helps our company prioritize investments and resources. Earl suggested I speak with the head of our enterprise risk management group … and I left inspired! I was shown a portfolio management-style approach to prioritizing risk management investment. It used an easy to understand, business executive-friendly visualization “heat map” dashboard that aggregates and summarizes the multiple dimensions we use to model risk . I asked myself: if an extremely mature and universally relevant business function like Finance manages its business this way, can’t the emerging discipline of data governance learn from it? Here’s what I’ve developed… (more…)
No organization begins to implement a data governance program from an entirely blank slate; every organization likely has some capabilities to leverage. Determining an organization’s current level of data governance maturity is a useful and necessary first step in developing a customized plan that is both relevant and executable. So how do you assess your maturity? Well throw a rock in any direction and you’re likely to hit a software vendor, consulting company or industry analyst that offers a maturity model and assessment tool to support your data management and data governance efforts. Actually don’t throw rocks, you could hurt somebody. (Yes, we offer one too – more on that below). (more…)
In this video, Rob Karel, vice president of product strategy, Informatica, outlines the Informatica Data Governance Framework, highlighting the 10 facets that organizations need to focus on for an effective data governance initiative:
- Vision and Business Case to deliver business value
- Tools and Architecture to support architectural scope of data governance
- Policies that make up data governance function (security, archiving, etc.)
- Measurement: measuring the level of influence of a data governance initiative and measuring its effectiveness (business value metrics, ROI metrics, such as increasing revenue, improving operational efficiency, reducing risk, reducing cost or improving customer satisfaction)
- Change Management: incentives to workforce, partners and customers to get better quality data in and potential repercussions if data is not of good quality
- Organizational Alignment: how the organization will work together across silos
- Dependent Processes: identifying data lifecycles (capturing, reporting, purchasing and updating data into your environment), all processes consuming the data and processes to store and manage the data
- Program Management: effective program management skills to build out communication strategy, measurement strategy and a focal point to escalate issues to senior management when necessary
- Define Processes that make up the data governance function (discovery, definition, application and measuring and monitoring).
For more information from Rob Karel on the Informatica Data Governance Framework, visit his Perspectives blogs.