Big Data Analytics for Pharma

Like any other industry the pharmaceutical industry too is heavily depen-dent on predictive analysis. In other words, the pharma companies need to understand the type of drugs or medical devices that need to be devel-oped in order to meet patient requirements. Data management firms mention that pharma companies need to ensure a rich pipeline of drugs and medical devices to improve their profitability. In such a scenario big data analytics become essential from pharma companies. Some of the benefits that pharma companies can derive from big data analytics are as follows:

▪ With data analytics predictions regarding biological models that need to be devel-oped, evaluating diverse clinical data and even predicting the outcomes of particular drugs if released in the market become easier. The data generated will be repre-sented in a visually understandable manner, which will prove to beneficial for busi-ness analysts.

▪ For the pharma companies identifying possible candidates for clinical are essential and this requires evaluation of petabytes of data generated from social websites. With big data analytics, the identification process of suitable candidates will become easier. The results from the analytics identifying suitable population demographics become easier, which subsequently reduces the expenses incurred to carry out the clinical trials.

▪ Big data analytics can help identify operational signals, unnecessary delays and quick resolution of queries. Data management firms will ensure that the data are collected electronically and flow across operations, instead of rigid data silos. These activities

are essential to improve profitability of pharma companies.

Thus, big data analytics can help improve the profitability of pharma com-panies. nSimpl data experts believe that with proper data management the fragmented information generated by various sections of a pharma com-pany can be integrated to produce visually understandable results. Hence, consider hiring a data management firm if you want to improve the prof-itability of your pharmaceutical company.