By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    benefits of using protein powder to build muscles
    Protein Powder for Muscle Mass: Everything You Need to Know
    December 12, 2021
    changes brought on by blockchain in healthcare
    Technology In The Healthcare Industry
    March 28, 2022
    What Does Core Body Temperature Say About Health?
    August 17, 2022
    Latest News
    Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
    May 16, 2025
    Learn how to Renew your Medical Card in West Virginia
    May 16, 2025
    Choosing the Right Supplement Manufacturer for Your Brand
    May 1, 2025
    Engineering Temporary Hospitals for Extreme Weather
    April 24, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    FDA Approves Diabetes Pill
    May 2, 2011
    Patient Gets Drunk on Hand Sanitizer
    June 20, 2011
    Cultivating Health Improvement
    July 20, 2011
    Latest News
    Building Smarter Care Teams: Aligning Roles, Structure, and Clinical Expertise
    May 18, 2025
    The Critical Role of Healthcare in Personal Injury Recovery: A Comprehensive Guide for Victims
    May 14, 2025
    The Backbone of Successful Trials: Clinical Data Management
    April 28, 2025
    Advancing Your Healthcare Career through Education and Specialization
    April 16, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: The Future of Healthcare and Big Pharma is in Big Data Analytics
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Policy & Law > Health care > The Future of Healthcare and Big Pharma is in Big Data Analytics
eHealthHealth careTechnology

The Future of Healthcare and Big Pharma is in Big Data Analytics

Ritesh Mehta
Last updated: February 5, 2021 8:05 am
Ritesh Mehta
Share
6 Min Read
SHARE

The healthcare industry recognizes that Big Data as and opportunity and a challenge for the whole sector. Nevertheless, systems and strategies, platforms and processes in place these days are not successful and could not content with the demands of a fast evolving healthcare field. Vital to make healthcare more measurable, efficient and patient-centered is the ability of integrating huge data resources available across the ecosystem and translate them into actionable, meaningful insights. Big data analytics offered a new way to healthcare firms to develop actionable insights. Furthermore, it also helps organize future vision, enhance outcomes and lower time to value. The approach is also helpful in providing insightful information to healthcare organizations when it comes to their management, planning and measurements. The results evaluated could further help in boosting the decision making capacity of top management. The demand for improved and timely use of data creates pressure across the different channels of the industry, leaving payers, manufacturers and provider groups especially vulnerable to Big Data deluge. With the high demand in the industry, it is inevitable that there is Big Data gap in Big Pharma with the Healthcare analytics. As pharmaceutical enterprises continue investing, creating, and collecting real-world evidence data, each and every one of them should be able to turn information into actionable insights as they aim to impact options in treatment, lower costs and boost patient outcomes. Through translating RWE data into patient-centered intelligence and analytics for use across clinical-commercial continuum, the effect of real world data could rapidly go from basic theory to pervasive practice and finally deliver its promise to change treatment strategies and patients? healthy everywhere. Cloud-based analytics could bridge the Big Data gap. The solutions could translate data into patient-centric intelligence. By allowing pharmaceutical firms to access, analyze, and delivery meaningful insights for broad use quickly, they could deliver a better understanding of patient need that is unmet, create more streamlined and targeted product development and contribute to the overall enhancement of quality healthcare. Pharma sales and marketing professionals are faced with an ever-evolving environment that?s challenging their business operations. Big Data technologies could help meet the challenges or the gap head on and gain competitive advantage. To successfully build a healthcare network, it is necessary to understand the totality of available data today in areas that would give new insights, like HCP influence, research, market potential and customer engagement. Big data, combined with powerful analytics could provide a detailed influence map that includes major people, systems as well as institutions. Leaders in the pharmaceutical field are familiar with reimbursement systems that focus on value against volume. Data is no different. Life science and healthcare is unique in the depth and breadth of data sources available, that only adds complexity to a business. The shift from volume to value-based reimbursement furthermore pushes this further. Making the right choices of technology, with interoperability, would help one to get to valuable data that could boost accountability, performance and to be better equipped in dealing with the momentous change in the industry. Most of the time, pharmaceutical teams mistake business intelligence and CRM for advanced analytics. CRM is the price of entry, but when combined with transactional functions with advanced analytics which feed back into the systems, one could get the ?meat? needed to solve bigger issues. Finding the gaps between current and potential HCP engagement isn?t easy. However, this is where harnessing Big Data power could make all the difference. By incorporating numerous and disparate sources of data, one could track potential trends against current HCP engagement, map those that are against changing patient and HCP concentrations, apply filters that are based on market access changes, and fine tune sales and marketing efforts. To successfully innovate a business, it requires choosing the right partners, whether internal or external. Internally, find champions such as a CIO. Keep in mind, innovating compliantly is vital too, so one should keep the compliance team all throughout the process. Externally, make certain to find the right external vendors set. These days, it is clear that pharmaceutical organizations do not have the luxury of time anymore, waiting for insights which are subpar at best and at worst inaccurate. The absence of more effective, faster way of managing data across the enterprise, life sciences firms could not acquire insights fast enough to stay competitive. Transforming data into sights via proven analytics could support the growing need of the industry for outcomes-based and real-world insights. Through rethinking the silos that permeate their businesses they could improve the amount and value of research activities shorten cycle times in all lifecycle phases, drive rapid change, and strengthen analytical competence and market differentiation.

TAGGED:Big data and healthBig Pharmahealthcare analytics
Share This Article
Facebook Copy Link Print
Share
By Ritesh Mehta
Follow:
Ritesh Mehta works as a senior Technical Account Manager in a software development company named TatvaSoft Australia based in Melbourne. He specializes in Agile Scrum methodology, Marketing Ops (MRM) application development, SAAS & SOA application development, Offshore & Vendor team management. Also, he is knowledgeable and well-experienced in conducting Big Data analytics, business analysis, product development, team management and client relationship management.

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

Do You Grind Your Teeth at Night? Here’s How Night Guards and TMJ Treatments Can Help
Do You Grind Your Teeth at Night? Here’s How Night Guards and TMJ Treatments Can Help
Dental health
May 21, 2025
The Secret To A Confident Smile: Top Tips For Better Teeth
The Secret To A Confident Smile: Top Tips For Better Teeth
Dental health
May 21, 2025
Clinical Expertise
Building Smarter Care Teams: Aligning Roles, Structure, and Clinical Expertise
Health care
May 18, 2025
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
Health
May 15, 2025

You Might also Like

Social Media? The Answer to the Doctor’s Lounge

November 3, 2011
Image
eHealthMobile HealthWellness

The Dawn of the Worried Well

June 10, 2013
health software development outsourcing
Technology

Benefits of Outsourcing Healthcare Software Development Services

September 3, 2023
doctor-patient relationship
eHealthHospital Administration

Online Messaging Improves Doctor-Patient Relationships: Why Aren’t More Doctors Doing It?

August 18, 2013
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?