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Power BI for medical research institutes

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A complex web of income streams

Imagine a business where some income can be allocated for any purpose and other income must be allocated for specific purposes within the business. And those specific purposes are all different depending on where the income comes from. Each block of income is a different amount. Some of the income is in the form of one-off donations, some is regular giving, and some is a grant for a specific amount of money over a set amount of time. And the regular giving may stop at any moment, or turn into a bequest of a considerable amount of money.

Welcome to the funding model of medical research institutes:

An equally complex web of expenditure streams

Largely because the income streams are so complicated, medical research institutes also have complicated expenditure models.
Expenditure is usually tied to specific research projects, often around the treatment of a particular condition or the use of a particular therapy. These projects are often funded by grants, but can also be funded by other income streams that are relevant to the research.

For example, a research project into the use of targeted drug therapies in pancreatic cancer could be funded by a combination of:

Making the opaque transparent

Overlaying the tangled web of financial transactions that make this research happen is a need to be transparent by providing the following information for the following stakeholders:

We are familiar with this territory because we partner with clients who are medical research institutes. They use Power BI over their systems to get the top-down view of the organisation that they need. They also take advantage of Power BI’s ability to drill down from the top-level view to analyse the detail. It gives them the power to:

Power BI a powerful tool, and it is well applied to these complicated financial tangles.

Power BI for the research itself

But there is another application for Power BI in medical research.
Medical research produces a lot of data.
Many medical research projects produce a lot of data repositories.
Medical research institutes could use the functions of Power BI to pull these sources of information together to find new insights in existing databases.
Power BI could even be applied across longitudinal studies to look for patterns that may have gone unnoticed.

Where there is data, there is potential

The most exciting aspect of using powerful tools like Power BI is giving someone the time and space to troll through data to expose new connections and insights that were hidden in the complexity. It just requires someone to try.

Go on, go for it.

Discover Power BI and medical research institutes in real life.

Heart Research Institute have implemented Power BI alongside Professional Advantage, and discuss their experiences in this Client Story.

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