Smarter Decisions

New BI Tool for Senior Living

By Nik Edlinger on Apr 6, 2020 in News

Good leadership depends on good data. Because without data, as the saying goes, you’re just another person with an opinion.

Thing is, everyone wants good data for making better business decisions. But not everyone wants to collect, clean, graph and dissect their datasets.

Part of the issue is the sheer abundance of information, especially in senior living. From your standard financial metrics to qualitative measures like care level, there’s always something extra to track down. Some staff may not even know where to find the right numbers in the first place.

Then there’s the lack of clarity. How do you accurately organize and analyze what you have? Giant spreadsheets of columns and rows are not the easiest to understand, nor are they very shareable.

The current state of senior living business intelligence

It’s a tricky situation that senior living providers have approached in a couple ways.

Manually creating reports: The most common method. You (or your staff) spend days’ worth of preparation before big meetings, pulling numbers from siloed systems, cutting and pasting inside spreadsheets. When you have monthly or even weekly calls that require up-to-date numbers, this is a significant time sink.

Adapting third-party tools: Today’s business intelligence software options are powerful, but they are general-purpose tools. Which means long implementation and customization, trying to fit the product to senior living. Some organizations even require a dedicated full-time employee to manually upload data and manage the solution.

Thankfully, the future of business intelligence in senior living looks brighter.

Introducing a smarter solution for senior living data analytics

Your data is now open for business. Make smarter, faster decisions with actionable information for your entire portfolio through Yardi Senior IQ. Designed specifically for senior living providers, Senior IQ surfaces your data in dashboards, tiles and widgets.

Senior IQ is fully integrated with the rest of the Yardi Senior Living Suite. All your data flows in automatically, populating key performance indicators (KPIs) without you having to lift a finger. You’ll have instant access to must-know metrics along with industry benchmarks so you can uncover insights and lead with confidence.

What does Senior IQ bring to the table?

• Comparative benchmarking: See how your communities stack up using internal benchmarks as well as market data from the NIC MAP Data Service.
• Out-of-the-box KPIs: Quickly identify which properties are doing well and which are below expectations with at-a-glance numbers for accounting, operations, marketing and care.
• Portfolio-wide view: Keep tabs on the health of your entire business from a central dashboard that seamlessly pulls in data from across your communities.
• Drill-down visibility: Get fast answers to specific questions by diving deep into the details on a particular community.
• Role-based dashboards: Empower your team to work smarter by giving them access to individual dashboards with metrics that matter to them.

Want to see Senior IQ in action? Contact us to schedule a personal demo.