Building Knowledge, Tracking Change
The medical sector changes over time. The same applies to the other sectors. Everything is in constant change and motion. But without the right tools to track such changes, finding and analyzing trends can be based on a mere gut feeling. This approach can leave you with a quite misleading picture in mind. Make the right business decision based on that? Nearly impossible.
Luckily, such changes are visible in the data. A new pharmacy opened in your district? The new hospital? Some of the medical cabinets got closed? Each of these events will be reflected in publicly available data. After the data update, you will see what the current situation looks like.
Imagine you’re tracking the number of dental clinics in Geneva. A year ago, there were 120 clinics. Over the year, your data versioning system recorded 15 new clinics opening while 8 others closed. Now, you know there are 127 clinics, but the real value comes from analyzing the trends.
You notice that most new clinics opened in high-density residential areas, while closures happened in older parts of the city. Some clinics post job openings frequently, some don’t. You see what the situation look like right now or in the nearest year.
What about the past, and tracking those changes?
For that, you need to have proper data versioning.
Make Data your Advantage
Using data is not only about producing a bunch of reports. Dashboards and graphs are cool to look at, but they are not the final goal itself. The goal is to present and use information to your advantage. Finding information that no one else has - that’s the key here.
There are two levels here.
Level 1: Build a unique data source. This can include scrapping publicly available data from various sources or even finding the way to access private sources. If you manage to combine those approaches, the reward will be even bigger.
Example: You start collecting data on dentists and dentist clinics in Switzerland from government health directories job postings and clinic websites. You track details like clinic locations, the number of practising dentists, services offered (e.g., orthodontics, implants) and hiring trends. By merging these sources, you create a rich dataset that gives a comprehensive view of the dental market.
Level 2: Do it more than once and find the trends. If you do it multiple times over the years, your advantage will build up. You will have the data from the present and from the past. The old data disappears from the internet. But not from your database. As it keeps accumulating, you will see how the environment evolves. Remember, it’s the unique knowledge that only you will have.
Example: Five years ago, your database recorded 800 dental clinics across Switzerland. Now, your updated data shows that this number has grown to 920. But by analyzing trends, you discover more than just the total growth. You see that:
- The biggest increase happened in suburban areas, where 100 new clinics opened, while city-center locations only grew by 20.
- Clinics in Zurich post job openings 40% more frequently than before, suggesting increased demand
- Several older, independent clinics have closed, while large dental chains have expanded aggressively.
Build your Competitive Edge
Imagine you’re tracking dental clinics in Switzerland. Five years ago, your database recorded 1,200 clinics nationwide. By systematically collecting data over time, you now see that the number has grown to 1,500. But the real insight comes when you analyze the patterns of change.
- While some areas, like Zurich suburbs, saw a 30% increase in new clinics, certain rural regions experienced a decline.
- The rise in orthodontic services suggests increased demand for cosmetic dentistry.
- Larger dental chains have expanded aggressively, while small independent practices struggle to survive.
Because you have historical data, you’re the only one who can see these long-term shifts in the market. This knowledge allows you to make strategic decisions.
To effectively track changes over time, it’s essential to observe and analyze how data evolves. The true understanding comes from systematically monitoring and documenting changes. Just to come back to it later and see the direction in which the reality changes. Imagine that thanks to data you’ve noticed that over time the number of cardiologists in the given region decreases. Only you see this trend because you’ve built the tool to store and watch the changes in the data.
With proper data versioning, you can analyze trends over long periods. It can be identifying key moments, such as shifts in the number of doctors. It can be the emergence of new services.
Knowing that, you can make well-informed, long-term investment decisions. Looking at data through a time horizon of 2, 5, or even 10 years allows for both historical analysis and forecasting, creating an unprecedented competitive edge.
Starting today ensures that you build a strategic advantage for the future.
Ready to do this with Datali?