Big Data and Pharma Analytics | How Modern BI transforms the Pharmaceutical Industry
The pharmaceutical industry is increasingly relying on Modern BI to enhance its investments and make business processes more efficient. Among the various applications, the Big Data and Pharma Analytics helps increase patient safety, improve the efficiency of clinical trials, and increase sales performance. It’s on this last point of sales performance that we’d like to emphasize the application and functionalities of Pharma Analytics.
Big Data and Pharma Analytics, applications for the Pharmaceutical Industry
Pharmaceutical companies are increasingly demanding advanced Business Intelligence and analytics software. These tools make it possible to view and compare huge amounts of data (Big Data) and detailed analyzes. There are numerous applications of Modern BI for the pharmaceutical sector.
Sales and Marketing for pharmaceutical companies
Pharmaceutical representatives can now focus on geographical areas where patients with a high probability of needing a specific drug are located. The pharmaceutical companies can also save time and money by sending representatives to doctors who request a visit. Discover the Pharma Analytics solution designed by Atlantic Technologies based on Tableau Software
Accelerate the discovery and development of new drugs
With the huge number of expired patents and the high cost of bringing a new drug to market, it is important for the industry to accelerate the process of discovering and developing new products. Being able to intelligently search vast data sets of patents, scientific publications, and clinical trials data should help accelerate this process. The application of predictive analysis to the search parameters helps, then, to understand which solutions can actually produce the best results.
Improve the effectiveness of clinical trials
Pharmaceutical companies must ensure the right mix of patients for their studies. Big Data can assist identifying the
appropriate patients to participate in a trial (through analysis of demographic and historical data), remote patient monitoring, reviewing previous clinical trial events, and even helping to identify potential side effects before they become a reality.
Collaboration with other relevant companies
The companies can collaborate to train their drug-discovery, machine-learning algorithms on their shared data. They can also use Big Data to collaborate with insurance companies, data management companies, and external scientists. The resulting network of knowledge and transversal skills has a strong impact on innovation and industry discoveries.
Pharmaceutical companies can build a dialogue with consumers through social media platforms and digital apps. This data flow connects patient follow-up, research, and development to medical records of electronic doctors. In addition, apps provide companies with real-time monitoring of patient health and, consequently, with a direct analysis of product compliance.
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Pharma Analytics: Atlantic Technologies’ solution for sales and marketing in the Pharmaceutical Companies
As seen, the analysis of Big Data and Pharma Analytics for sales and marketing guarantees companies a significant competitive advantage. Among the solutions of our Atlantic Analytics Cloud, which is designed on a Tableau Software basis, Pharma Analytics has a multi-functional and well-organized structure that immediately returns ready-to-use reports for the sales team.
Pharma Analytics provides market KPIs in charts and tables dedicated to forecasting cycles in multiple scenarios, QM, IP, IE, visits, benchmarks, commercial initiatives, and marketing.
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