By Gary Urban, Senior VP, Process & Quality, Biorasi and Jon Roth, VP, Data Sciences & Biometrics, Biorasi
Big data and real-time analytics have reinvented retail, financial services, and manufacturing, among other industries.
Banks can detect fraud the instant it happens, saving them millions annually. Retail operations seem to recommend products as soon as we think of them. And manufacturers can perform maintenance on machines before they break down, preventing lost production time.
Even healthcare is tapping into analytics to support population health and precision medicine initiatives. Meanwhile, the pharmaceutical industry spends millions on drug development yet continues to suffer from declining success rates.
To control costs, improve efficiency, and successfully bring more drugs to market—life-changing, life-saving drugs—pharma and biopharma companies need to follow the lead of the financial industry and forward-thinking health systems. Here, we discuss how a data-driven approach to clinical trials—from patient recruitment to post-regulatory approval—can put an end to missed deadlines, failed studies, and wasted time and money.