FREMONT, CA: When it comes to investing in Big data, no other industry has as much at stake as pharmaceutics. Big data not only provides the foundation for research and the discovery of new drugs but also helps patients and caregivers make better decisions. Hence business leaders must stay informed about big data and its applications to benefit from the technology. Read on!
Research and Development
Pharmaceutical industries can collect large volumes of data generated at the different stages of the value chain from drug discovery to its usage. For these firms need suitable sources of clinical data and integrate this data into their significant data infrastructure. Big data will help industry leaders gain insights about various drugs and their usage. By using these insights, businesses can make informed decisions during research and development, developing more effective medicines and reduce their side effects.
Big data in clinical trials can help recruit patients using data such as genetic information, personality traits, and disease status with which physicians can understand medical details of every patient and analyze whether the patient would be eligible for a clinical trial. With this, pharmaceutical companies can perform less expensive and shorter clinical trials. Physicians can also use electronic health records as their primary source of data for tests.
By leveraging big data, researchers can rely on predictive modeling for drug discovery. It enables researchers to predict drug interactions, toxicity, and inhibition, for these predictive models use advanced mathematical models and simulations that help in predicting how a particular drug will react in a human body. Using historical data, it can predict FDA approval and patient outcomes.
Big data can be considered, as a critical enabler in precision medicine, where diagnosis and treatment are carried out using relevant data about a patient’s genetic make-up, environmental factors, and behavioral patterns. Pharmaceutical companies can develop personalized medicines suitable for an individual patient gene with this approach.
Sales and Marketing
Business leaders can analyze geographical locations that sell the highest number of promoted medicine with the utilization of big data and can enhance their sales and marketing efforts. Big data will also facilitate large volumes of data about customer behavior, the impact of ad campaigns, and customer retention for the pharmaceutical industry.
Leveraging big data, pharmaceutical companies can take a data-driven approach to several business procedures. Big data solutions are sure to revamp the industry greatly.