How Useful is Data Analytics to Pharmaceutical Companies?

Empirical data has helped pharmaceutical companies to discern patterns test hypotheses and understand treatment performance.

FREMONT, CA: Data analytics is simply an advancement in a phenomenon that has marked its existence for hundreds of years, in which people have greater access to information and information. Since the advent of the movable printing press in the 15th century, the development of human knowledge and data has picked up its pace. Information technology has enhanced this process, raising the likelihood of transmitting and taping information sources that a single human mind could ever be able to process.

Garnering the advantages of data requires a different approach to look at data so that the pharmaceutical companies can use data analytics to create business value and drive innovation.

Enhancing Drug Discovery and Development

Following the expiry of a large number of blockbuster drug patents and the cost of bringing a new drug into the market that is approaching $5 billion, there are massive benefits offered by anything that can improve the drug discovery and development process. Theoretically, having the ability to smartly scan large data sets of patents, scientific publications, and clinical trial data will help speed up the discovery of new medicines by enabling researchers to compare previous test results. Adopting predictive analytics to the criteria of finding could allow them to hone in one relevant information as well as gain insight into which avenues are most likely inclined to produce the best results.

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Improve and Optimize the Efficacy of Clinical Trials

Most of the critical trials are costly and time-consuming to conduct, and pharmaceutical companies want to make sure they have the correct patient selection for a given test. Big data can help identify the appropriate patients who can participate in a trial, review previous clinical trial events, remote monitoring of patients and even help determine the potential side of effects before they turn into a reality.

Target Particular Patient Populations More Effectively

Genomic sequencing allows medical sensor data and electronic medical records to be readily available because, previously, pharmaceutical companies can identify the root causes of different pathologies and understand that one size does not fit everything.

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