Current and Future Trends in Pharmaceutical Big Data Utilization

News provided by

Best Practices, LLC

Mar 13, 2015, 06:30 ET

CHAPEL HILL, N.C., March 13, 2015 /PRNewswire/ -- Big Data has the potential to generate valuable insights for key commercial decisions within the biopharmaceutical industry. Despite this, organizations in the biopharma industry have been slower than other industries to fully embrace Big Data analytics.

According to recent research by benchmarking firm, Best Practices, LLC, the pharmaceutical industry is still in the early stages of utilizing large data sets from different sources to inform critical aspects of medical, commercial and HEOR operations. However, between 30-40% of benchmarked participants said they expect their data capabilities to increase over the next two years.

The related report, "Big Data in Pharma: Current and Future Trends in For Big Data Utilization Across Commercial Functions," will help leaders to better understand the growing influence of Big Data in the biopharmaceutical sector and how it impacts medical, HEOR, and commercial operations in the U.S. 

Key study topics include:

  • Types of Big Data Projects Used to Support Medical, Commercial and HEOR Decisions
  • Big Data Capabilities and Governance
  • Types and Value of Data Used for Big Data Projects
  • Big Data Staffing and Budget Levels
  • Value Rating of Partnerships on Big Data Projects
  • Policies and Procedures Governing Big Data Activities

This benchmarking research drew participation from twenty companies, twelve of which represent the pharmaceutical/ biotech industries, four representing the medical device industry, and four representing other healthcare businesses.

To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1337.htm

For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://www.best-in-class.com/.

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.

SOURCE Best Practices, LLC

Related Links

http://www.best-in-class.com

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