Duncan Lamb on the Role of Data Analytics In Future Pharma Success

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duncan-lamb-Following an interesting article by James Weatherall on the future relationship of Pharma and Big Data¹, Duncan Lamb, consultant and head of advisory board at Verix, emphasizes the part data analytics play in getting companies to the forefront of future pharma landscape.

“Let’s get our line managers the right data and the right tools – then help them make sense of it.”

A surfeit of data can be as confusing as choosing which of the many ‘consulting detectives’ to use in order to sift, sort and make sense of it all. And unfortunately, all the chatter about Big Data can cause even savvy managers to lose sight of the basics. That’s why advising operating managers when more data is NOT the answer, is a key element of the analysts’ charter today.

Partnering with our line managers will help all of us see what’s important and what isn’t- because without a realistic assessment of the managerial environment, adding more data sources or incremental analyses just removes the analytical function further from the mainstream and drivers of success.

And if we accept that every organization is at a different stage in its ‘analytical maturity’, we can dial-in the right prescription for each entity.

“Because at the end of the day, providing clear, basic, call-to-action insights and prescriptive analytics is our main challenge and goal.”

 

References

1. Hill, A. (2015, Sep 23). The Need for Smart Data. eye for pharma. Retrieved from http://social.eyeforpharma.com/market-access/need-smart-data