5 Pharma & Big Data Analytics Treats for Halloween
This week’s compile opens up with interesting “musings” from our friend Paul Tunnah on what an Uber for Pharma might look like. The internet has definitely unlocked potential for disruptive business models taking the lead over traditional companies. What would have been totally impossible in the pre-digital world of “physical business” is now a given. Businesses use the power of modern connectivity to connect millions of small “sellers with their new audience of “buyers”.
Tunnah challenges us with the following question:
If Uber, the world’s largest taxi company, owns no vehicles… Facebook, the world’s most popular media owner, creates no content… Alibaba, the world’s most valuable retailer, has no inventory, then what does “Uber Pharma, the world’s most valuable Pharma company not own? Drugs, sales reps, R&D…
Bets are open and indeed it will be interesting to see what future has in store.
This week rounds up focuses mainly on big data. With an interview of McKesson’s CIO on the opportunity of big data analytics, some analyses on outsourcing data analytics yes or no, an insightful article on data driving metamorphosis of Pharma marketing by Ramon Chen and more.
Thanks to Paul who did put a smile on our face with his ingenious question, happy reading and most importantly Happy Halloween to us all.
1. Tunnah’s musings: What would an Uber for pharma look like?
By Paul Tunnah, published on pharmaphorum
In our digital age, connectivity has disrupted many sectors, creating new business models that don’t rely of physical commodities, such as Uber – the largest taxi company that owns no taxies, or Airbnb, the world’s largest accommodation provider which owns no real estate. Will this sort of disruption affect Pharma as well, and if so, what will a Pharma company look like if it had non of what currently defines it – drugs, sales reps and R&D. This is the interesting question Paul Tunnah is exploring.
2. McKesson’s CIO on the Opportunity in Big-Data Analytics
By Kim S. Nash, published on The Wall Street Journal
“Big-data analytics is a huge area for us” says Kathy McElligott, an experienced veteran in the technological sector and currently the CIO and CTO at McKesson Corp. Ms. McElligott further explains how big data affects the Pharma business from multiple perspectives – internally, in terms of efficiency, and externally, in terms of customer perspective, health-care providers, payers, end consumers etc. She also provides an insightful view of how the perspective of a CIO can contribute to Pharma’s understanding of “their digital customer experience, what to do with all this information and how to make more profit for the company”.
3. 5 trends advancing the health IT cause
By Gary Palgon, published on Healthcare IT News
Sometimes an article without amusing anecdotes or richness of details leaves us, the readers, feeling a bit cheated. This is not the case for Mr. Palgon’s short, precise and to-the-point review of current leading IT trends that advance the Pharma industry. From “The rise of the hyper quantified self” to “Advanced interoperability”, this concise review will enrich you with just a quick read.
4. Data driving metamorphosis of pharma marketing
By Ramon Chen, published on pharmaphorum
In order for Pharma marketing to thrive in a market that has long been subject to stakeholder, patient, physician pressures etc., it has to be based on a reliable data foundation. The problem is, with so many data sources out there, finding the right way to combine them into meaningful insights is no easy task. That’s why Ramon Chen advises and explains that “The way forward lies in the new breed of cloud-based, data-driven applications. They make it easier to blend internal and third-party data, ensure data reliability, and facilitate collaboration between sales and marketing, all while enforcing compliance.” Read on to explore the possibilities data-driven applications provide for Pharma marketing.
5. Outsourcing Data Analytics
By Alleli Aspili, published on Data Science Central
In this comprehensive piece Aspili explains everything from what data analytics exactly is and why it’s needed, through questions such as the challenges and advantages of an in-house analytics vs. outsourcing your data to third party provider, and even provides guidelines on the elements to consider when choosing an analytics provider. No doubt, whether you never heard of data analytics before or you’re an analytics enthusiast, this article has something for you.