BOSTON, April 20, 2015 /PRNewswire/ -- Teradata (NYSE: TDC), the big data analytics and marketing applications company, today announced the newest analytic innovation for pharmaceutical companies. The Teradata Analytics Framework for Life Sciences helps organizations integrate and analyze data from areas such as Research and Early Discovery (RED), clinical analysis, Real-World Evidence (RWE), and finance. By fusing data from multiple, relevant sources, companies can benefit by bringing safer, more effective treatments to market quickly while also optimizing value chain economics.
The Teradata Analytic Framework for Life Sciences is uniquely designed to capture and integrate all relevant data, so that organizations benefit from a much broader range of actionable insight. Richer data integration enables the discovery of new information which can raise relevant new questions and issues that were previously unknown or not quantified. This results in continuous improvement throughout the R&D life cycle and the identification of new revenue opportunities.
"With pipelines unable to backfill revenue losses due to blockbuster patent expirations, life sciences organizations are in aggressive pursuit of new revenue sources. New drug R&D is tremendously challenging, with chronic disease markets heavily penetrated by established and increasingly generic drug offerings. While niche and specialty drugs are yielding blockbuster revenues over the near term, long term sustainability will require more effective exploitation of data both within and across the broader life science and healthcare ecosystem to succeed," said Alan Louie, Research Director, Clinical Development, Strategy and Technology at IDC. "As part of that broader view, Teradata's portfolio of data solutions should help organizations to better integrate and analyze real world data, commercial data, and deliver the combined intelligence that leading life science companies will need, moving forward."
"In the life sciences world, the process of extracting business value from data has been far from easy, particularly due to problems such as data complexity, return on investment (ROI) concerns, unconnected infrastructure, ethical concerns (privacy), economies of scale, lack of data standards and lack of holistic patient understanding," said Scott Sobers, Director, HealthCare and Life Sciences Industry Marketing, Teradata. "Many researchers and marketers spend most of their time pulling data together instead of analyzing the data. To resolve this, we believe in the idea of an integrated information ecosystem – a framework that integrates and accelerates data access for users. In a world of multi-structured 'big data' we are moving toward more integration of all the data because it brings clarity and visibility that can be harnessed for clinical improvements as well as business value."
"Deeper alignment of data and technology with business requirements benefits every organization," said Joy King, Principal Consultant and Practice Lead for Life Sciences Consulting at Teradata. "With the Teradata Life Sciences Framework, analysts can leverage more real world evidence more effectively and at a lower cost. The result is more efficient resolution of significant challenges such as adverse event detection. This will help drive new insight into drug use, new approaches to revenue generation and ultimately the hope of better treatments for those who use pharmaceutical products."
This announcement is being issued at the 2015 Bio-IT World Conference & Expo in BostonApril 21-23, where 3,000 life sciences, pharmaceutical, clinical, healthcare, and IT professionals from 32 countries will convene. The Teradata exhibit will be located at Booth #450.
Teradata will host a luncheon presentation at the conference on Tuesday, April 21, at 12:40 p.m. as part of the Clinical & Translational Informatics Track. The topic will be "Implementing Continuous Improvement to Reduce Risks and Speed Clinical and Translational Informatics." The speaker will be Ed Acker, Ph.D., Principal Life Sciences Consultant, Teradata Corporation.
Teradata has a strong presence among well-known brands in the global Life Sciences industry, and its most illuminating analysts and specialists regularly speak at Teradata events.
Teradata (NYSE: TDC) helps companies get more value from data than any other company. Teradata's leading portfolio of big data analytic solutions, integrated marketing applications, and services can help organizations gain a sustainable competitive advantage with data. Visit teradata.com.