Question

Why are good data essential to sound decision making, both clinical and business related

Answer 1

Data is indeed the new oil. This statement whether applied to clinical or business related decision making fits perfectly to the modern day needs. A good data is essentially a set of valuable information that play a key role in understanding the target customer audience and improve the service offered to make it more effective and viable for the organization. The decision based on such informed and throughout insights helps in making the critical decision in a timely manner based on good data procured for improving the service or grow the business

                        In case of healthcare related decisions, the good data obtained can help the organization to invest the human and financial resources investment according to the community, society and patient needs. Good data can help in accurate diagnosis, clear patient healthcare condition, medical report history, patient preference, etc which leads to a robust and effective medical treatment and outcomes. With the use of good data, if we make sound decision clinical settings we can optimize the healthcare resources and provide effective targeted treatment and achieve excellent health outcome without the need for trial and errors and putting any strain on the resources

                         In case of business, good data and related analyzed information is always critical for making the business model more effective and robust according to changing trends and customer requirements. Sound decisions taken based on good data can help the business sustainably and help the business to grow and prosper with long term goals in sight and staying relevant along the way

Therefore a good data acts as foresight and effective decision making tool for both clinical and business related events.