The pharma and biotech industries can gain a competitive edge, streamline PPM (Project Portfolio Management) processes, and take informed decisions using data analytics. With the increasing adoption of technology by the stakeholders and loads of research and clinical trials data coming in, the life sciences cannot overlook the need for business analytics.
From establishing a single source of truth to employing AI and ML to dig deep into your data, digital analytics can help you make use of every bit of data.
Additionally, using business analytics, pharma and biotech industries can tackle the below issues.
- Under or over utilization of resources
- Dynamic regulatory requirements
- Tough time tracking operational KPI for numerous studies
- Inability to predict deviations from timelines
- Budgeting analysis to manage multi-site, multi-vendor and multi-country set up.
Here is a detailed infographic on how digital analytics can help transform the way you use your business data.