CHAPEL HILL, N.C., May 29, 2015 /PRNewswire/ -- In recent years, the biopharmaceutical industry has seen an explosion in the availability of Big Data that can generate valuable insights. 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.
According to a recent study by benchmarking firm, Best Practices, LLC, 53% of participants already have a Big Data team or function in place; however, these organizations are still in the early stages of utilizing large data sets from different sources to inform critical aspects of Medical Affairs operations.
The related report, "Big Data in Pharma: Current & Future Trends for Big Data Utilization Across Medical Affairs Functions," was designed to help leaders to better understand the growing influence of Big Data in the biopharmaceutical sector and how it impacts medical, HEOR, and commercial operations.
Key study topics 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
This benchmarking research drew participation from 12 leaders from 11 leading pharmaceutical companies through a benchmark survey in regards to Big Data usage in Medical Affairs.
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/rr1354.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