Jason Atchley : Big Data : Big Data Becomes More Prominent in Pharma
Big data becomes more prominent in pharma industry
Category: Data recovery
27 December, 2013
Big data has grown to prominence in the pharmaceutical market over recent years, turning into a key technology for businesses.
With smartphones, tablets and other mobile devices causing a substantial rise in the amount of data collected by organisations, big data is necessary for it to be managed with ease.
Forrester’s chief information officer Skip Show explained that important leaders in the sector are claiming that good data management gives businesses a key and differentiated competitive advantage.
Mr Show commented on the many common trends and practices in the industry, indicating that pharma should move away from its focus on molecules in order to take a holistic view of disease.
“Pharma needs to understand prescribing behaviour in the formulary and in the physician’s office better in order to influence it and thus drive sales. As per a senior marketing manager from a meeting recently: ‘In the old world, we just sprayed and prayed,’ meaning that the marketing campaigns aimed at the physician did not discriminate as to who that physician was.”
He went on to say that genomic-based drugs are driving changes via the amounts and types of data managed by the industry.
“The recent changes in American patent laws from first to invent to first to file is driving a need to more coherently manage the data associated with creation of intellectual property,” Mr Show continued.
In order to address the need to market in a more targeted way to the population of physicians, methods of social graphing are being employed to measure influence circles.
Mr Show added that work is taking place within only the most sophisticated environments, where it is becoming difficult to find appropriate business models to draw from.
He also stated that there is a great effort being made to structure data from unstructured information entered into electronic lab notebooks.
In order to manage details more effectively, data recovery plans should be introduced.
These will make it easy to recover information as soon as it goes missing, saving businesses from reputational damage.
When looking for data recovery services, look for one with a track record of success. Ontrack Data Recovery services has 50,000 successful data recovery stories to tell every year.
Posted by Lucy Hill