For players in the biopharmaceutical space, it is becoming increasingly clear that advanced analytics can be of enormous assistance in solving many of the unique challenges the industry faces. To understand the extent of the impact that advanced analytics can make, it’s first necessary to examine how healthcare in the US has undergone a major transformation over the past decade.
First, there’s the presence of managed care. It puts pressure on pharmaceutical companies to provide stronger evidence of efficacy and safety, reduce costs of drug development and healthcare in general, and provide personalized care by targeting patient groups that are most likely to benefit from treatments and least likely to suffer adverse events. Read more