While financial services firm have developed robust data management capabilities, there are other industries that are data rich. Today, there may be no greater opportunity to leverage the power of data and analytics than in life sciences and healthcare.
“The pharmaceutical industry has entered a golden age era of R&D productivity, with the FDA approving new products at a rate not seen the mid-1990s. It may not be fully appreciated how much this productivity gain has been a result of the emergence and exploitation of ‘Big Data’ in life sciences” says the expert Jonathan White.
According to White, though pharmaceutical executives are vaguely aware of the theoretical benefits of Big Data strategy, few have taken concrete steps to ensure that their firms are taking an enterprise-wide, or even a divisional approach, to data management.
White perceives an industry rich with opportunity for data-driven transformation.
Read the full article on Forbes.