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The biopharmaceutical industry has seen an explosion in the availability of Big Data that can generate valuable insights for the Medical Affairs function. However, the inherent costs and other challenges have caused the biopharmaceutical sector to embrace Big Data analytics slower than other industries.
Best Practices, LLC undertook this study to better understand the structure and governance approaches the biopharmaceutical sector is taking insofar as Big Data utilization by the medical affairs function. In addition, the study investigates the types of Big Data studies, the most valued partnerships and the policies that companies are using as they move to a more analytically based approach to medical decisions.
- Types of Big Data Projects Used to Support Medical Decisions
- Types of Big Data Projects Used to Support Decisions, Segmented by Company Size
- Big Data Capabilities and Governance
- Value Rating of Partnerships on Big Data Projects
- Policies and Procedures Governing Big Data Activities
SAMPLE KEY METRICS
- Dedicated Big Data Teams (Medical)
- Plans for Dedicated Big Data Teams (Medical)
- Big Data Capabilities and Governance by Region (Medical)
- Big Data Use, Leadership by Function (Medical)
- Internalization by Capability (Medical)
- Partnership Value (Medical)
- Prevalence of Data Governance Policies (Medical)
- Maturity of Capabilities
- Capabilities of U.S. Companies
- Capabilities of Global Companies
- Percent of Surveyed Techniques Employed in Decisions
- Preference and Popularity of Study Types
SAMPLE KEY FINDING
- Medical function Likely to have Range of Big Data Policies in Place: More than half of the participants said they had 8-9 of the 12 policies listed in the survey.
- Most Have Centralized or Dedicated Big Data Team or Function: Half of the study participants of the medical segment said they have a centralized/decentralized group (Big Data team or function) to support Big Data projects.
Best Practices engaged 12 leaders from 11 pharmaceutical companies through a benchmark survey in regards to Big Data usage in Medical Affairs. Research analysts also conducted seven deep-dive interviews with selected benchmark participants.