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The rapid evolution of Big Data is generating greater insights for key medical decisions within the biopharmaceutical industry. However, organizations often find it challenging to leverage Big Data due to the inherent costs and other challenges associated with harnessing large sets of data in varied formats.
Identifying the most useful types and sources of data is an important initial step to realizing the huge potential that Big Data holds for pharma. Best Practices, LLC undertook this study to better understand the growing influence of Big Data in the biopharmaceutical sector and how it impacts medical operations in the U.S. The study offers segmented responses from medical affairs participants regarding key benchmarks around what types of data companies are using most frequently as well as the data sources they find most useful. Also, the research presents metrics around what internal and external groups request and find the most value in Big Data presentations.
· Defining Big Data
· Data Types and Sources
· Data Producers, Dissemination & Requestors
SAMPLE KEY METRICS
· Impact of listed types of transactional data sources
· Impact of listed types of reported/survey data sources
· Impact of listed types of online data sources
· Impact of listed types of scientific/clinical data sources
· Impact of listed types of machine-generated data
· Impact of listed types of data producers
· Impact of listed types of data dissemination channels
· Impact of listed types of data dissemination targets
· Most common requestors of data analysis
SAMPLE KEY FINDING
- Majority Partners Rate Internal Groups as Most Impactful Targets for Data Analysis: Internal Commercial, Medical and Development functions were rated by a majority respondents as the most impactful targets for data analysis presentations. A majority of participants also said these internal groups were also the most frequent requestors of presentations.
Best Practices, LLC engaged 12 leaders from 11 pharmaceutical companies through a benchmarking survey in regards to Big Data usage in Medical Affairs. Research analysts also conducted seven deep-dive executive interviews with selected benchmark participants.