Most of the clinical data analytics solutions available today tend to solve only a part of the data management challenge. Leon Surgeon talks about a solution that has the ability to harmonize data from disparate sources, leverage it for actionable insights, and accelerate the clinical trial process. Read the white paper to learn more about such a solution and its unique approach.
75 percent of the companies world-wide are already moving towards implementing some form of data analytics solution to make sense of their data. The life-sciences industry is no stranger to this, and over the last decade, many new innovations in big data analytics have found their way into the world of clinical trials and other operations.
So how do you know which clinical data analytics solution is the right one for your business?
Let’s run through some things that should be on the wish-list of any pharmaceutical company looking to leverage their data:
- Ability to ingest data from disparate data sources: This is important as most of the clinical trials are run on multiple platforms. It is a part of a pharmaceutical company’s business strategy to use different vendors for different trials and operations. This means various CTMS and EDC systems, each creating their own data silos, running across the enterprise at any given time.
- Ability to prep the data for analytics: Data stored in various silos is not uniformly configured, so integrating all the data that it is harmonized and accessible, is vital.
- Ability to offer a custom solution, quickly: The analytics solution needs to be able to customize their need according to your requirement, but not take forever to do it. The longer a custom solution takes to deploy, the more it loses its competitive advantage, and runs the risk of losing to new or existing competitors.
- Ability to offer analytics to predict clinical trial success: Clinical trials are expensive to run – it’s not news to anyone in the pharmaceutical industry. They also tend to have a high failure rate; only about 10 percent of drugs being tested make it to the market. Running a trial to completion and then finding out that it failed, is an expense that any company would want to avoid. With the right data and right analytics, you can kill a trial that seems destined to fail.
- Ability to offer accurate analytics to drive business decisions: Having an enterprise-wide view of the data and the insights it offers, is crucial for keeping the business competitive and growth-oriented. A feature that allows different users to look at different sets of data easily and through a dashboard is an added advantage.
There are many factors to consider regarding the way data is generated, stored, and managed in the life sciences industry. Most of the clinical data analytics solutions that are around tend to solve only one part of the problem, or simply lack the depth to dive deeply into the entire data system.
Here’s a white paper for you to look at that can help you navigate data related challenges, available solutions, and open up a whole new way of leveraging data: Clinical Data Analytics: Disruptive Technology on the Horizon.