The rapid evolution of Big Data holds the potential of generating greater insights for key commercial decisions within the biopharmaceutical industry. Despite this, the biopharma industry is still only in nascent stages when it comes to big data utilization for informing critical commercial operations.
The complexity of the healthcare ecosystem combined with the inherent costs and other difficulties associated with big data utilization pose a huge challenge to most companies in leveraging Big Data. Best Practices, LLC conducted a benchmarking study to review the best practices, winning strategies and current and future trends for big data utilization across the commercial function.
The study, “Big Data in Pharma: Current & Future Trends for Big Data Utilization Across Commercial Function” provides benchmarks around the most valuable data types and sources for strategic commercial decisions; governance policies and leadership; and the most impactful data producers, dissemination channels and targets. Biopharmaceutical organizations can devise/revamp their big data strategies by analyzing the big data trends, insights and benchmarks revealed in the study.
Read More at: http://www.best-in-class.com/bestp/domrep.nsf/products/big-data-in-pharma-current-future-trends-for-big-data-utilization-across-commercial-function?OpenDocument
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Big Data in Pharma: Current and Future Trends for Big Data Utilization Across Commercial Function
1. Big Data in Pharma:
Current & Future Trends for Big Data Utilization
Across Commercial Function
Best Practices, LLC
Strategic Benchmarking Research Study with Segmented
Responses by Commercial Function
2. 2
Table of Contents
I. Executive Summary pp. 3-8
Research Overview pp. 4
Universe of Learning pp. 5-6
Big Data Team Overview and Key Study Insights pp. 7-8
Quantitative Key Findings pp. 9-12
II. Defining Big Data pp. 13-20
III. Data Types and Sources pp. 21-26
IV. Data Producers, Dissemination & Requestors pp. 27-31
V. Centralization pp. 32-34
VI. Governance and Leadership pp. 35-51
VII. About Best Practices, LLC pp. 52
3. Best Practices, LLC, conducted a customized study – with responses segmented by medical,
commercial and HEOR functions - to better understand the growing influence of Big Data in the
biopharmaceutical sector and how it impacts medical, HEOR, and commercial operations in the U.S.
Best Practices, LLC engaged 12 leaders
from 12 pharmaceutical companies
through a benchmarking survey.
Research analysts also conducted
seven deep-dive executive interviews
with selected benchmark participants.
Research
Goal
Research
Methodology
Produce reliable industry metrics on
current and future trends for Big Data
utilization across medical, commercial
and HEOR groups.
Topics Covered
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
Investigate data types, data partnerships,
and staffing/budget levels companies
are using as they move to a more
analytically based approach to
commercial, HEOR & medical decisions.
Research
Overview
Research Project Objectives & Methodology
4. Benchmark Class:
Twelve Companies Participated in the Commercial Segment
12 analytics, marketing and HEOR leaders from 12 different companies participated in this study.
Participants were recruited because of their presumed investment in Big Data analytics.
7. 7
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Point of Sale (POS) Claims Electronic Health
Records (EHR) /
Electronic Medical
Records (EMR) /
HIE (Health
Information
Exchanges)
ePrescription /
pharmacy fulfillment
Wholesalers /
Group Purchasing
Organizations
(GPOs)
Government (e.g.,
cost data)
Credit card
Impact of Transactional Data (Commercial)
Highly impactful Somewhat impactful Not impactful Not used
While a majority of commercial participants rated claims and Electronic Medical Records (EMR) as
the most valuable types of transactional data for Big Data studies, 50 % also cited point of sale as
highly impactful or valuable.
N=12
Q: How impactful (or valuable) has each of the following types of transactional data sources proven to be?
Transactional Data: Commercial Rates Claims, EMR Most Valuable
8. 8
Commercial Leaders May Face Barriers to Centralized Data
Commercial leaders were least likely to describe their analytics as centralized or dedicated. This
data point may be driven by discomfort with analysts who address both marketing and clinical
questions, something a centralized analytics function might try to do.
N=12
Q: Do you have a centralized/ dedicated group of individuals to support Big Data projects?
Yes, 40%
No, 60%
Dedicated Big Data Team (Commercial)
9. 9
Commercial Sees Highest Uncertainty On Dedicated Role
Commercial leaders were most likely to not know the future structure of their analytics efforts, as
well as least likely to have centralized/dedicated personnel already in place. This may be driven by
heretofore strict separation of clinical and marketing functions.
N=12
Q: When do you expect your organization will establish a Big Data team?
Have It, 36%
Getting It By
2015, 27%
Getting It By
2017, 9%
Don't Know,
27%
Plans for Dedicated Big Data Team
(Commercial)
10. 10
0%
10%
20%
30%
40%
50%
60%
North America EU Europe (nonEU) Asia
Big Data Capabilities and Governance by Region (Commercial)
Regions with Big Data capabilities Region where governance resides
Capabilities Outstrip Governance for Commercial
Commercial leaders reported marginally more often that there were Big Data capabilities in Asia than
other functions. The gap between those with capabilities and those with governance is most
pronounced among commercial leaders.
N=12
Q: Please indicate the regions below where your organization has Big Data capabilities, and where Big Data
governance resides.