CHAPEL HILL, N.C., Feb. 19, 2016 /PRNewswire/ -- The biopharmaceutical industry has seen an explosion in the availability of Big Data that can generate valuable insights for the Health Economics and Outcomes Research function. Despite this, the inherent costs and challenges that come with utilizing Big Data have caused the biopharmaceutical sector to embrace Big Data analytics much slower than other industries.
Benchmarking firm, Best Practices, LLC undertook a study to answer the many questions that organizations are wrestling with in regards to Big Data. The study also probes current trends for Big Data utilization across the Health Outcomes Research (HEOR) function. According to the research, a majority of participants from HEOR functions said they expect their data capabilities to increase over the next two years.
The related report, "Big Data in Pharma: Current & Future Trends for Big Data Utilization Across the Health Outcomes Research Function," will provide leaders with industry metrics on current and future trends for Big Data utilization across medical, commercial and HEOR groups.
Key study chapters include:
Types of Big Data Projects Used to Support Medical, Commercial, and HEOR Decisions
- Big Data Capabilities and Governance
- Types and Value of Data Used for Big Data Projects
- Big Data Staffing and Budget Levels
- Value Rating of Partnerships on Big Data Projects
- Policies and Procedures Governing Big Data Activities
Best Practices, LLC engaged 15 leaders from 13 pharmaceutical companies through a benchmarking survey to discuss how their companies approach Big Data utilization within HEOR. In addition, executive interviews were conducted with function leaders and others from Medical Affairs and Commercial.
To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1412.htm.
For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://www.best-in-class.com/.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.
SOURCE Best Practices, LLC