| Summary: | Pharmaceutical industry is working towards developing new tools that
would help increase the efficiency of drug development while reducing the time
and expenditure involved in research & development (R&D) and clinical trials. The
lack of new blockbuster drugs and short patent periods is one of the key reasons
the pharmaceutical industry is trying to reduce costs. Clinical trials absorb the
major chunk of investment in the drug discovery and development process. One
of the reasons most of the pharmaceutical companies are exploring the available
opportunities to use Information Technology services is to improve the efficiency
by gaining faster response while reducing the time and cost involved in clinical
trials.
Perceptive Informatics, a subsidiary of PAREXEL is a leading eClinical
solutions provider that focuses on helping customers to increase the product
development process through innovation. The solutions offered help their
customers to maximize the benefits of clinical trial technologies by providing
flexible software-as-a-service (SaaS) applications. The services offered by
perceptive include Randomization and Trial Supply Management technologies,
Medical Imaging, Clinical Trial Management Systems, Electronic Data Capture
(EDC) etc. The solutions offered by Perceptive Informatics eClinical result in
simplified workflow, improved efficiency, and enhanced productivity.
Pharmaceutical Industry like the most of other industries is driven by
customer choices, thus making it important for companies to understand
customer’s choices and needs. Data analytics plays a key role in analysing and
understanding customer behaviour and preferences. Pharmaceutical industry
relies on past data for forecasting present and future trends about trials, thus it is
important to have Big Data system that can store and analyse huge chunks of
data. By using Big Data analytics solutions and specifically high performance
analytics, companies can analyse huge amounts of data in seconds and minutes
to reveal previously unseen patterns, sentiments and customer intelligence.
Implementation of Cloud Computing can be a game changer move with futuristic
point of view. This will enable availability of reliable data at a high speed on any
device such as smartphones and tablets allows the company to take decisions
faster, thus helping in enhancing the drug development process. The main
objective of this report is to provide an understanding on how Perceptive
Informatics can unlock the economic value of Big Data through the adoption of
Big Data analytics.
The scope of this report is to provide an insight into the key issues faced by
pharmaceutical companies with respect to clinical trials, the role of Big Data
analytics and business intelligence in optimizing costs across other industries and
how Big Data is being utilized in clinical trials. This report also presents the
approaches required to incorporate Big Data Analytics and Predictive Analytics for
eClinical solutions. Further, we have provided Perceptive Informatics with
recommendations on ways to leverage the advantages of Big Data analytics
keeping in view the pros and cons of implementing the same.
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