Discussion: Data Analysis & Reporting DHA 732
Discussion: Data Analysis & Reporting DHA 732
Write a draft of the next two sections of the program evaluation proposal to include the following:
Data Analysis and Reporting:
What software programs, report generation tools, and analytics will be used for compiling, data mining, storing, and retrieving current and historical data for analysis and reporting?
What are the overall capabilities and limitations of the software?
Is there any known data needed for program evaluation that is not currently accessible through the health care organization’s interfaced information system?
Is there a cost-benefit consideration involving manual collection for analysis and custom reports for reporting warranting economic evaluation or cost analysis?
Economic Evaluation:
Problem or purpose warranting an economic evaluation
The economic- or program-related theory that supports an economic evaluation
Economic or cost analysis questions to be answered related to the purpose
Stipulate if comparing to another program or interventions
Justifying the need for a cost description or analysis
Decision rules
Each type of economic evaluation and cost analysis
Accounting perspective and corresponding costs & benefits to be evaluated
Data and methods used
Resource limitations
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Many people were certain that Hillary Clinton was going to win the presidential election, but their assumptions were based on polling data reports, not data analysis.
Understanding the distinction between data reporting and analysis will help you avoid making similar data mistakes with your business. Data reporting, like the poll data used in elections, can tell you what is happening with your business, but without context or knowing why something is happening, your interpretation won’t be based on all the facts.
Simply put, reporting uses data to track the performance of your business, while an analysis uses data to answer strategic questions about your business. Though they are distinct, reporting and analysis rely on each other. Reporting sheds light on what questions to ask, and an analysis attempts to answer those questions.
data-reporting-flow-chart
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Luckily, you don’t need to be a data scientist to build reports or make analyses for your business. We’ve laid out how to use both approaches to get the most out of your data.
How Data Reporting Reveals The Right Questions
In the same way your car dashboard monitors important metrics like gas consumption, mileage and speed, your business needs a dashboard of data reports to ensure everything is running smoothly.
Data reporting is the process of organizing data into charts and tables in order to track performance of your business. This raw data keeps you aware of what is happening with your business. When your business is not reaching one of its goals, your reporting charts should alert you of the issue, prompting you to respond.
While reports are the first line of defense for your business health, it is often impossible to extract insights that can help you fix an issue or seize an opportunity. For example, this Sales Win/Loss report gives you an indication of individual sales performance, but the data doesn’t explain why each rep has different results.