By Jackie Larson, President, Avantas
Remember the 2003 book (and later film adaptation in 2011) by Michael Lewis that brought the hype of big data analysis to the sentimental game of baseball? For many, Moneyball opened their eyes to the possibilities and valuable insights that were waiting to be unlocked by predictive analytics, sparking an obsession with data that has expanded to many industries.
Healthcare organizations have been the latest to join in the analytics craze. When used smartly, predictive analytics can improve the accuracy of numerous types of forecasts. And when you’re considering patient care outcomes, accurate forecasts are invaluable.
In Lewis’ wildly popular book, the romanticized story of how Oakland A’s General Manager Billy Beane and Assistant General Manager and economist Paul DePodesta built a playoff-bound team by valuing statistics over instinct resonated with the masses. It was an inspiring underdog story that allowed the A’s to compete against big-budget teams by using statistics in a way that had not been done before in the game of baseball. [Read more…]