A Pivotal Play
CareFirst BlueCross BlueShield Optimizes Data Aggregation, Analysis with 'New Analytics'
Why is this a Pivotal Play?
As businesses continue to wrangle with "big data," Maryland-based CareFirst BlueCross BlueShield has undergone a transformation of its business intelligence (BI) model that has saved the health insurer $10 million in project costs. The effort also cut the amount of time needed to accomplish certain BI-related activities from 18 months to less than two days.
CareFirst is a prime example of organizations pioneering a dramatic revolution in business intelligence and data analytics practices. Using "new analytics," companies are moving away from a predictive approach to help mine relevant data—common in traditional analytic processing—to identify opportunities and targets through more free-form, on-demand comparisons of data elements.
Leveraging QlikView technology, CareFirst can now collect and analyze immense amounts of data from across the enterprise in real time, without waiting on its core analytics team to run BI reports. The ability to run a variety of analyses in less time than ever before has saved CareFirst millions of dollars in project costs while helping to reduce its dependence on outside contractors by 25%.