Data-Driven Decision Making as a Strategic Driver of Future Health Care Business Success

Ayodeji Timothy Babatunde

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Ayodeji Timothy Babatunde
timbabatunde@gmail.com
Southern University A&M College

Vol. 2 No. 12 (2022): December

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December 30, 2022

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In today’s rapidly evolving healthcare landscape, data-driven decision-making (DDDM) is revolutionising the industry by enhancing operational efficiency, optimising resource allocation, and improving patient outcomes. This research explores the role of DDDM in driving healthcare business success, emphasising key independent variables, including technology infrastructure, organisational culture and leadership, and the regulatory and policy framework. This study investigates the transformative impact of data-driven decision-making (DDDM) on business success in today's rapidly evolving landscape. By analysing how organisations leverage data insights to optimise operations, enhance customer experiences, and drive innovation, this research highlights the critical role of DDDM in maintaining a competitive edge. The study employs a mixed-methods approach, combining quantitative analysis of performance metrics with qualitative insights from industry experts. Key findings reveal that DDDM not only improves accuracy and efficiency but also fosters a culture of innovation and enhances decision-making speed. However, the successful implementation of DDDM hinges on addressing challenges such as data quality, privacy concerns, and skill gaps. The study concludes by providing actionable strategies for building a data-driven culture, investing in advanced technologies, and ensuring data accessibility and privacy. Ultimately, this research underscores that DDDM is not just a strategic advantage but a necessity for businesses aiming to thrive in the data-centric future. The study utilises the Resource-Based View (RBV), the Triple Aim Framework, and the Technology Acceptance Model (TAM) as its theoretical underpinnings. By leveraging predictive analytics, real-time data processing, data integration, AI/ML utilisation, and evidence-based decision-making, healthcare organisations can achieve financial stability, regulatory compliance, and innovation in service delivery. The findings highlight the significance of electronic health record (EHR) adoption, interoperability, cybersecurity, leadership support, ethical governance, and policy compliance in ensuring the success of the healthcare business. This study provides actionable insights for policymakers, healthcare administrators, and technology developers in shaping data-driven healthcare environments.

Babatunde, A. T. (2022). Data-Driven Decision Making as a Strategic Driver of Future Health Care Business Success. International Journal of Innovative Analyses and Emerging Technology, 2(12), 86–113. Retrieved from https://oajournals.net/index.php/ijiaet/article/view/2775

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International Journal of Innovative Analyses and Emerging Technology

Data-Driven Decision Making as a Strategic Driver of Future Health Care Business Success

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