4 Ways Senior Care Nonprofits Benefit from Using Data Analytics
The amount of information available to any industry these days is astounding—it’s a gold mine of valuable insights into clients, market trends, and operational efficiency. Every day technological advances create more powerful ways to collect and analyze data—and the best part is they are simultaneously getting easier and easier to use (more on this later).
When it comes to senior care nonprofits, your most valuable data comes from right inside your organization—from the seniors in your care. Data analytics simply means taking advantage of that resource by collecting the data and turning it into meaningful information. Here are four specific ways the information can benefit your organization.
Budgeting & Forecasting
If you’re like many senior care organizations, your budget operates out of a mountain of spreadsheets. There was a time when spreadsheets were revolutionary, and they laid the groundwork for many solutions to come—but if you’re still using spreadsheets to manage important data and information, you’re creating extra work and risk for your organization. We have better solutions today—technology that allows you to collect data quickly and analyze trends and forecasts automatically. No manual cutting and pasting rife with errors, and instead a standardized process you can trust.
It’s important to have actionable information to make smart decisions—and it’s also imperative that the people making those decisions have access to the information they need when they need it. Management reporting means having one unified view of key information and having that view shared in an accessible, user-friendly way. Data analytics are often paired with high-level reporting tools that make it easy to consolidate multiple data sources to create an organization-wide view.
This high-level view often includes graphs, charts, and other visuals that enable strategic thinking and future planning. Users can customize their view based on their roles in the organization, and drill-down from summary data when they need to get into the details. With accurate enterprise reporting, you and your staff will feel empowered and confident to make smart decisions.
Fundraising & Outreach
Nonprofit organizations rely on funds from donors who want to know their money is being put to good use. They want to see that your organization is spending money wisely and that you can show measureable impact of what you spend. Data analytics is the only dependable way to track and prove your impact on an individual and aggregate level across programs. With reliable data analytics, you can provide fundraisers and potential donors with easy to understand metrics on how your work is achieving your mission—and how you are using data to make smart decisions with their money.
Nonprofits must adhere to strict regulations to maintain their nonprofit status. Sometimes the effort to ensure compliance can feel overwhelming. Data analytics platforms help remove the stress from regulatory compliance. With a data analytics and reporting platform, you can easily generate needed numbers and reports at the click of a button—so you can ensure you are complying and spend minimal effort reporting to government agencies.
Perhaps you’re convinced your organization needs better data analytics—but how do you get there? You don’t need to reinvent the wheel. The hard work has already been done to create sophisticated platforms that make the most of your data. Senior Growth is a technology company dedicated specifically to using data to help senior care organizations better achieve their missions. We’ve already thought through how best to enable budgeting and forecasting, organization-wide reporting, targeted donor outreach, and regulatory compliance.
Like you, we want seniors to have the best possible Quality of Life, the most possible independence, and the best quality of care—our mission is to enable you to achieve yours. Let us help.
Are there other ways you’ve seen data analytics benefit senior care nonprofits? Tweet us @SeniorGrowth with #DataInSeniorCare.
At SeniorGrowth, we are dedicated to improving the Quality of Life for seniors through the power of data. We build solutions to empower senior care organizations with data analytics and insights to prove their impact and make a difference for the seniors they serve.
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