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Saama Technologies Award Write Up
1.
2018 Global Real-world
Evidence IT Solutions Enabling Technology Leadership Award 2018
2.
BEST PRACTICES RESEARCH ©
Frost & Sullivan 2018 2 “We Accelerate Growth” Contents Background and Company Performance ........................................................................3 Industry Challenges..............................................................................................3 Technology Leverage and Customer Impact.............................................................4 Application Diversity and Stage Gate Efficiency ........................................................4 Strong Focus on Project Outcomes Resulting in Stronger Client Ownership Experience and a High Retention Rate.....................................................................................5 Strong Commercialization Success .........................................................................5 Conclusion...........................................................................................................6 Significance of Enabling Technology Leadership .............................................................7 Understanding Enabling Technology Leadership .............................................................7 Key Benchmarking Criteria ....................................................................................8 Best Practices Award Analysis for Saama Technologies....................................................8 Decision Support Scorecard ...................................................................................8 Technology Leverage ............................................................................................9 Customer Impact .................................................................................................9 Decision Support Matrix ......................................................................................10 Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices .................................................................................................................11 The Intersection between 360-Degree Research and Best Practices Awards.....................12 Research Methodology ........................................................................................12 About Frost & Sullivan ..............................................................................................12
3.
BEST PRACTICES RESEARCH ©
Frost & Sullivan 2018 3 “We Accelerate Growth” Background and Company Performance Industry Challenges With growing digitalization in the healthcare and life science industry and with increasing cost pressure on pharmaceutical companies, the application of real-world data (RWD) or real-world evidence (RWE) is increasingly gaining importance across the pharmaceutical value chain. This is because it provides pharmaceutical companies with an opportunity to assess and use larger volumes of data than is currently possible in clinical settings, thereby enabling more informed decisions. RWD is comprised of sales, patient, trials, prescription, and product-specific data in the healthcare/life sciences space that is collected outside of clinical settings. So far, the majority of RWD and RWE solutions have been focused on health economics and outcomes research (HEOR), pricing, and market access applications. However, because RWD sources have significantly evolved across other pharmaceutical value chain stages, RWE applications are expanding towards drug discovery and clinical trials, adverse event detection, regulatory approval, and drug utilization monitoring. This adoption is also driven by significant changes in the regulatory scenario across a large number of countries, and regulatory authorities are now supporting the use of RWE and RWD in drug development, clinical trials, and approvals. One key challenge for pharmaceutical companies is to make their clinical trials more effective, as it accounts for 40% to 50% of the total drug development cost. Across different functions within clinical trials, patient and site recruitment is a key issue. Patient recruitment delay has been one of the major reasons for the continuous increase in clinical trial costs. To overcome this challenge, companies need to find a solution that increases the effectiveness of their clinical trials. The use of RWD for site selection and recruitment has been considered as a potential approach, however, a limited availability of companies offering such solutions and lack of subject matter expertise is a roadblock. Also, a growing volume of healthcare and pharma RWD, data management, and analytics has emerged as another key challenge for pharmaceutical companies. They find it difficult to cull out application-focused insights from the gathered RWD in a time-effective manner. Unstructured and inconsistent data from different sources is another key implementation challenge that pharmaceutical companies face. Given the volume of data, manual curation, cleansing, and integration is not an option and the role of technology solutions becomes important in this situation. There is a dire need for RWE technology vendors capable of managing RWE and RWD specific to drug discovery and clinical trial function, while also having the subject matter expertise to understand the clinical trial function, specific data assets, and related analytics requirements.
4.
BEST PRACTICES RESEARCH ©
Frost & Sullivan 2018 4 “We Accelerate Growth” Technology Leverage and Customer Impact Commitment to Innovation and Match to Customer Needs Founded in 1997 and headquartered in the United States, Saama Technologies is a clinical data integration and analytics company and has been at the forefront of Big Data Analytics in the life science space. Saama leverages machine and deep learning to optimize the cycle time, cost, and outcomes of a life science company’s clinical development business processes, up through commercialization. The company offers cloud-enabled Big Data management and analytics solutions that support its clients’ need to simultaneously handle unstructured, semi-structured, and structured data. The company solves two critical client industry challenges through its solutions—the capability to handle and analyze large sets of data and the ability to support the application of RWD in clinical trial functions. Saama’s fluid analytics platform is equipped with pre-built components, connectors, key performance indicators (KPIs), dashboards, and life science industry-specific data models that allow a company to speed up the data analytics platform configuration and installation for new projects. Further, any additional analytics or data cleaning algorithms can be designed by modifying algorithms from the company’s existing library to meet specific client needs and provide the much-needed flexibility to the system design. This hybrid development process helps Saama reduce the time-to-market by almost 5 times compared to standard platforms, something possible due to the significantly less time required in algorithm development. The fluid analytics platform is a modern data platform (MDP), which is able to organize and process data by leveraging Big Data technologies including Hadoop, Hive, and Spark to store and process structured and unstructured data. The platform is also supported by machine learning algebraic and non-algebraic models to enable automated data management and visualization. Further, Saama’s strong focus on life science and healthcare industries helps it better understand different application-focused requirements and develop specific tools. Saama has developed expertise in drug discovery, clinical trials, and regulatory support solutions on the basis of its extensive client network in the pharmaceutical industry. This is unique and distinct due to the limited presence of companies in these segments, thereby meeting a critical unmet customer need. Application Diversity and Stage Gate Efficiency The platform is designed to support multiple RWE-driven applications across the pharmaceutical value chain and is delivered through a suites of SaaS-based applications called Life Science Analytics Cloud. It culls out relevant insights from patient and health records to assist its clients in better understanding the diseases patterns and incidence/prevalence rates, possible treatment pathways, clinical development plans, and treatment switching frequencies.
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BEST PRACTICES RESEARCH ©
Frost & Sullivan 2018 5 “We Accelerate Growth” Another unique application feature of the platform is its ability to support clinical trials using RWD and RWE. The platform supports crucial functions, such as patient recruitment, site selection, investigator recruitment, and feasibility assessment using RWE and RWD. This has helped its global pharma majors achieve cost efficiency and reduce the time required to conduct clinical trials. Other key applications supported by the platform include safety signal searching and guided analytics. Saama’s RWE analytics platform drives cohort studies using a guided analytics interface and helps researchers and companies identify signals related to adverse events. According to Frost & Sullivan’s latest study on the global RWE market, this type of application diversity in clinical trial optimization processes using RWE is unique and differentiates Saama from other competitors in this domain. A stage gate approach for product development and technology management has been another key feature for Saama Technologies. The essence of the effective product development relies on creating a strong process management framework and strictly adhering to global regulatory and quality standards. Supported by its project and process management standards, Saama is able to rapidly deploy its solutions (included databases integration, algorithm design, and visualization methodologies development) within a few weeks. The team capitalizes on the algorithm library developed by the company to come up with ideal analytical approach in different project situations, thus delivering high quality solutions in a timely fashion. This approach is further supported by its technology and strategic alliances with a large number of data analytics tools developers, hardware solutions providers, and life science companies, as these alliances help Saama deliver tools and applications specific to client needs. Frost & Sullivan believes that an extensive network of technology and strategic initiatives partners is crucial for product development in highly dynamic market segments such as Big Data Analytics. This strong partner network will help Saama further enhance its technological capability and flexibility, and differentiate itself from competitors. Strong Focus on Project Outcomes Resulting in Stronger Client Ownership Experience and a High Retention Rate Saama has been successful in its approach of keeping the analytics platform dashboard simple by using a guided analytics interface for easy and seamless access at the client end, without needing an analytics tools expert. This has also resulted in higher ROI for client organizations. Clients have been able to achieve 10% efficiency in site identification timelines, while a 15% reduction in non-enrolling site cost has been observed using analytics solutions from Saama Technologies. A client retention rate of more than 95% indicates the performance of tools and associated client experience. This retention rate is way above the industry standard rate of 80% to 85%. Strong Commercialization Success
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Frost & Sullivan 2018 6 “We Accelerate Growth” Supported by its unique portfolio catering to clinical trial RWE and a cost-effective hybrid implementation approach, life science analytics solutions from Saama Technologies have gained strong traction from pharmaceutical companies. The fact that there is very limited competition in RWE solutions for clinical trials applications, solutions from Saama Technologies have gained good acceptance. Some key life science industry clients for Saama include pharma majors such as Actelion, Astellas Pharma, Gilead Sciences Otsuka, and Pharmacyclics. Frost & Sullivan considers successful commercial outcomes as one of the key evaluation parameter to evaluate the performance and reliability of vendors. Given its strong track record in the clinical trial domain and client base, Saama Technologies holds a strong advantage against its competitors in this aspect. Also, given its ability to provide implementation flexibility and higher ROI to its clients, Saama Technologies has been proven as a preferred partner for life science pharmaceutical companies. Conclusion Saama Technologies has filled a major gap in real-world evidence solutions for clinical trials and drug discovery applications with its innovative analytics tools. Although the concept of using RWE is exciting and has strong growth prospects, growth in adoption has been relatively limited due to various implementation challenges (such as data interoperability) across structured and unstructured data systems and due to a lack of outcome-oriented analytics solutions. The RWE platform from Saama helps clients overcome these implementation challenges. The flexibility and scalability associated with the platform allows the company to better cater to the evolving nature of client requirements, thus helping them achieve higher savings and process efficiency. Frost & Sullivan research identifies Saama Technologies as an exceptional strategic partner for implementing real-world evidence solutions, especially to support clinical trial optimization processes. With its strong overall performance, innovative analytics platforms, and operational excellence, Saama Technologies has earned Frost & Sullivan’s 2018 North America Enabling Technology Leadership Award for Real-world Evidence Solutions.
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Frost & Sullivan 2018 7 “We Accelerate Growth” Significance of Enabling Technology Leadership Ultimately, growth in any organization depends upon customers purchasing from a company and then making the decision to return time and again. In a sense, then, everything is truly about the customer—and making those customers happy is the cornerstone of any long-term successful growth strategy. To achieve these goals through enabling technology leadership, an organization must be best-in-class in three key areas: understanding demand, nurturing the brand, and differentiating from the competition. Understanding Enabling Technology Leadership Product quality (driven by innovative technology) is the foundation of delivering customer value. When complemented by an equally rigorous focus on the customer, companies can begin to differentiate themselves from the competition. From awareness, to consideration, to purchase, to follow-up support, best-practice organizations deliver a unique and enjoyable experience that gives customers confidence in the company, its products, and its integrity.
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Frost & Sullivan 2018 8 “We Accelerate Growth” Key Benchmarking Criteria For the Enabling Technology Leadership Award, Frost & Sullivan analysts independently evaluated two key factors—Technology Leverage and Customer Impact—according to the criteria identified below. Technology Leverage Criterion 1: Commitment to Innovation Criterion 2: Commitment to Creativity Criterion 3: Stage Gate Efficiency Criterion 4: Commercialization Success Criterion 5: Application Diversity Customer Impact Criterion 1: Price/Performance Value Criterion 2: Customer Purchase Experience Criterion 3: Customer Ownership Experience Criterion 4: Customer Service Experience Criterion 5: Brand Equity Best Practices Award Analysis for Saama Technologies Decision Support Scorecard To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool allows our research and consulting teams to objectively analyze performance, according to the key benchmarking criteria listed in the previous section, and to assign ratings on that basis. The tool follows a 10-point scale that allows for nuances in performance evaluation. Ratings guidelines are illustrated below. RATINGS GUIDELINES The Decision Support Scorecard is organized by Technology Leverage and Customer Impact (i.e., these are the overarching categories for all 10 benchmarking criteria; the definitions for each criterion are provided beneath the scorecard.). The research team confirms the veracity of this weighted scorecard through sensitivity analysis, which confirms that small changes to the ratings for a specific criterion do not lead to a significant change in the overall relative rankings of the companies.
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Frost & Sullivan 2018 9 “We Accelerate Growth” The results of this analysis are shown below. To remain unbiased and to protect the interests of all organizations reviewed, we have chosen to refer to the other key participants as Competitor 2 and Competitor 3. Measurement of 1–10 (1 = poor; 10 = excellent) Enabling Technology Leadership Technology Leverage Customer Impact Average Rating Saama Technologies 8 10 9 Competitor 2 8 9 8.5 Competitor 3 7.5 8.5 7.0 Technology Leverage Criterion 1: Commitment to Innovation Requirement: Conscious, ongoing adoption of emerging technologies that enables new product development and enhances product performance Criterion 2: Commitment to Creativity Requirement: Technology leveraged to push the limits of form and function in the pursuit of “white space” innovation Criterion 3: Stage Gate Efficiency Requirement: Adoption of technology to enhance the stage gate process for launching new products and solutions Criterion 4: Commercialization Success Requirement: A proven track record of taking new technologies to market with a high rate of success Criterion 5: Application Diversity Requirement: The development and/or integration of technologies that serve multiple applications and can be embraced in multiple environments Customer Impact Criterion 1: Price/Performance Value Requirement: Products or services offer the best value for the price, compared to similar offerings in the market. Criterion 2: Customer Purchase Experience Requirement: Customers feel they are buying the most optimal solution that addresses both their unique needs and their unique constraints. Criterion 3: Customer Ownership Experience Requirement: Customers are proud to own the company’s product or service and have a positive experience throughout the life of the product or service. Criterion 4: Customer Service Experience Requirement: Customer service is accessible, fast, stress-free, and of high quality.
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Frost & Sullivan 2018 10 “We Accelerate Growth” Criterion 5: Brand Equity Requirement: Customers have a positive view of the brand and exhibit high brand loyalty. Decision Support Matrix Once all companies have been evaluated according to the Decision Support Scorecard, analysts then position the candidates on the matrix shown below, enabling them to visualize which companies are truly breakthrough and which ones are not yet operating at best-in-class levels. High Low Low High CustomerImpact Technology Leverage Saama Technologies Competitor 2 Competitor 3
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Frost & Sullivan 2018 11 “We Accelerate Growth” Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices Frost & Sullivan analysts follow a 10-step process to evaluate Award candidates and assess their fit with select best practice criteria. The reputation and integrity of the Awards are based on close adherence to this process. STEP OBJECTIVE KEY ACTIVITIES OUTPUT 1 Monitor, target, and screen Identify Award recipient candidates from around the globe • Conduct in-depth industry research • Identify emerging sectors • Scan multiple geographies Pipeline of candidates who potentially meet all best- practice criteria 2 Perform 360-degree research Perform comprehensive, 360-degree research on all candidates in the pipeline • Interview thought leaders and industry practitioners • Assess candidates’ fit with best-practice criteria • Rank all candidates Matrix positioning of all candidates’ performance relative to one another 3 Invite thought leadership in best practices Perform in-depth examination of all candidates • Confirm best-practice criteria • Examine eligibility of all candidates • Identify any information gaps Detailed profiles of all ranked candidates 4 Initiate research director review Conduct an unbiased evaluation of all candidate profiles • Brainstorm ranking options • Invite multiple perspectives on candidates’ performance • Update candidate profiles Final prioritization of all eligible candidates and companion best-practice positioning paper 5 Assemble panel of industry experts Present findings to an expert panel of industry thought leaders • Share findings • Strengthen cases for candidate eligibility • Prioritize candidates Refined list of prioritized Award candidates 6 Conduct global industry review Build consensus on Award candidates’ eligibility • Hold global team meeting to review all candidates • Pressure-test fit with criteria • Confirm inclusion of all eligible candidates Final list of eligible Award candidates, representing success stories worldwide 7 Perform quality check Develop official Award consideration materials • Perform final performance benchmarking activities • Write nominations • Perform quality review High-quality, accurate, and creative presentation of nominees’ successes 8 Reconnect with panel of industry experts Finalize the selection of the best-practice Award recipient • Review analysis with panel • Build consensus • Select recipient Decision on which company performs best against all best-practice criteria 9 Communicate recognition Inform Award recipient of Award recognition • Present Award to the CEO • Inspire the organization for continued success • Celebrate the recipient’s performance Announcement of Award and plan for how recipient can use the Award to enhance the brand 10 Take strategic action Upon licensing, company is able to share Award news with stakeholders and customers • Coordinate media outreach • Design a marketing plan • Assess Award’s role in future strategic planning Widespread awareness of recipient’s Award status among investors, media personnel, and employees
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Frost & Sullivan 2018 12 “We Accelerate Growth” The Intersection between 360-Degree Research and Best Practices Awards Research Methodology Frost & Sullivan’s 360-degree research methodology represents the analytical rigor of our research process. It offers a 360-degree-view of industry challenges, trends, and issues by integrating all 7 of Frost & Sullivan's research methodologies. Too often companies make important growth decisions based on a narrow understanding of their environment, leading to errors of both omission and commission. Successful growth strategies are founded on a thorough understanding of market, technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360- degree research methodology provides an evaluation platform for benchmarking industry participants and for identifying those performing at best-in-class levels. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages more than 50 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from 45 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com. 360-DEGREE RESEARCH: SEEING ORDER IN THE CHAOS
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