manavpietro's Journal

Jan 2017
1:21 AM IST

BIG DATA TO REVOLUTIONIZE PHARMACEUTICAL INDUSTRY

From patient information to research records, pharmaceutical industries has long been involved in data collection and data analysis in order to deliver better services. However, the era of big data analytics has resulted in explosion of data in terms of volume, variety and veracity. The process of data collection and data analysis has become simpler now. The actual process of analysis is followed by integration of data to transforming and then cleansing it.

The big data opportunity promises to transform the way industries work, especially those that generate massive amount of data. In pharmaceutical industries, data is generated from myriad sources including patients, R&D, caregivers, and retailers among others. Effective use of big data will help this industry in discovering a new drug and later developing it into approved and effective medicines in a shorter period of time. While some of the drug discovery firms like Numedii and GlaxoSmithKline have already started leveraging big data analytics, some of them are in the early stages of using it. In order to deliver and develop the successful treatment of the next generation while addressing the issues related to managing and processing data, big pharma should start looking for the ways to maximize its value.