In a Way, the Data Dilemma Nowadays is a Bit like ‘Trick or Treat’
As we’re getting ready for Halloween, picking up costumes, candy or pumpkins, Pharma news keep us busy with a wide array of topics, from data analytics to healthcare futuristic developments.
A recent Forrester Research report describes Big Data challenge as such: “businesses are drowning in data but starving for insights.” I tend to agree.
On the one hand, we have the treat: access to huge amounts of data, less costly, with larger sample sizes. On the other hand, we have the trick: the challenge of aligning the data gathered with specific business needs and processes.
How can users extract the right information and make better informed data-driven decisions when there’s so much unfiltered data?
Frankly, it’s all a mess. Data is disconnected, unlinked, and sorting through the clutter can be quite a hassle.
Without a holistic data analytics solution with deep Pharma domain expertise, all this Big Data may end up delivering absolutely no valuable insights, and become useless.
In the spirit of Halloween, when there’s so much candy, it’s just too much of a good thing, leaving us with dining on delicious treats alone, with no nutritious value to feed on…
1. Improving Healthcare (and Pharma’s) Performance through Analytics
By Dr Nicola Davis, published on eyeforpharma
Organizations such as SCH (Seattle Children’s Hospitals) may not claim to be in Big Data yet, but they still handle very diverse sets of information, ranging from scientific findings to sensitive patient details. Sorting through the clutter of data can nonetheless be an enormous task to undertake. SCH Chief Data Officer, Eugene Kolker presents his views on improving healthcare and Pharma’s performance through analytics.
2. Big Data vs the right data in pharma decision-making
By Tom Lancaster, published on pharmaphorum
Tom Lancaster posits that it doesn’t matter how much data you have if you don’t know what question to ask –this remains the age old challenge for all researchers. In his opinion, Pharma brand managers, market insights teams, and marketing leaders are starting to see through the hype and know that they need a better approach. Lancaster prescribes three ways to drink from the Big Data fire-hose without conclusions getting washed away.
3. Healthcare Innovation The Market Wants Now
By Unity Stoakes, published on Forbes
Unity Stoakes presents his view on the futuristic development of innovation in healthcare. Sometimes, he says, new technology seems too far out for the bowels of the healthcare industry to embrace and presents the five technologies poised to change healthcare for the better.
4. Pharma’s newest nemesis? Nestlé works at the intersection of food and drugs to attack illnesses
By Eric Palmer, published on FiercePharma
If Big Pharma didn’t already have enough to worry about, with patent cliffs, drug price investigations and reluctant payers, it now will have to face the onslaught of a large, well-funded company trying to create hybrid pharma and food products. A company that would treat conditions from stomach disorders to Alzheimer’s disease. The health-focused unit of Swiss food giant Nestle is acting very much like a Big Pharma player these days, talking to the FDA, doing deals for pipeline projects etc. Read on to discover how the marriage of food and drugs can help fight illness.
5. Being Human, Being Flawed, Being a patient, Being Pharma
By Emma D’Arcy, published on eyeforpharma
We are avid followers of Emma D’Arcy. In this article she raises an important topic: “Have we gone too far with patient centricity?” Patient centricity is the most talked about concept of the past five years in pharmaceutical sales and marketing. We hear nonstop about cases where patients are empowered, entitled and efficient. But what happens when the pendulum of centricity swings too far and we lose the physician as part of the collaboration? A must read.