TH!NK Big Data for the Future of Pharma

After this election it's safe to say 'Big Data' has become a buzzworthy word. But where to next? Last week, Canada's data warehouse, TH!NK announced it will be merging Business Insights and Big Data.

Employing a state-of-the-art, Oracle-based data warehouse, TH!NK will launch its first offering, TH!NK Sales, in January of 2013. This product will track shipment data from manufacturers and wholesalers to pharmacy outlets and hospitals.

This type of collaboration could potentially produce real time data, trend alerts, efficient verification methods, and the ability to access information from many locations. It will offer valuable insights into sales trends and market share with improved speed, reliability and value. Planned future solutions will include prescribing trends, drug utilization insights and related analysis imperative to stakeholders wishing to forecast, monitor resources and plan drug development.

It is an information economy and the Life Science Industry has an abundance of information. With all of the technological advancements, how will big data change the pharmaceutical industry? And how will it help save time?

Using the powerful analytics to take this information to knowledge is a critical success factor for the industry’s future. How has the information become a key weapon in product development? Join us February 6-8 at the Data Driven Drug Development event where Astrazeneca’s Chief Technology Officer, Angela Yochem keynote session, Weapon of Mass Construction: How Life Science Information Management Facilitates Faster and Better Decision Making. For more information download our full brochure here.

As a reader of this blog, you’ll save 15% off the standard rate when you register to join us and mention code XP1715LINK!

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Making the most of your data

Big Data and analytics seem to be making a big impression on businesses everywhere. With the tools we have today it only makes sense to utilize them for research and development. The real question is, why has is taken so long? The data that has been complied is nothing new, corporations have been doing it for years, but today, many people are now struggling with what to do with this information. And also, how they can transform data to into growth for their company?

McKinsey director David Court says, "What’s the key success factor for exploiting data analytics? From our work—and we’ve probably talked to 100 people—it always comes down to three things: data, models, transformation." Court also states that when compiling data, it's better to address a few problems at a time, rather than try to tackle them all at once. Both data and analytics can help you identify what is really working for your company, which will save both time and money, especially when it comes to identifying what your audience needs.

Join us this January as Daniel Robertson, PhD, Senior Director, LRL IT Research, ELI LILLY, discusses how to structure your unstructured data. The Data-Driven Drug Development event takes place January 28-29 Philadelphia, PA. Download our agenda and subscribe here for news on private industry events, webinars, and the latest information on data-driven drug development.

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Biorepositories Asia Session Spotlight: Korean National Research Resource Center – The Exit For the Future Science

Leading up to Biorepositories Asia, we'll be highlighting a session from the upcoming conference. It will take place April 11-13, 2011, in San Francisco, California. For more information, download the brochure.

Featured Session: Korean National Research Resource Center – The Exit
For Future Science

Presented by: Professor Yeonhee Lee, Head, KOREAN NATIONAL RESEARCH
RESOURCE CENTERS (KNRRC)

About the Session:
The Korean National Research Resource Center (KNRRC) is a leading resource center in Korea with vast numbers of samples available for research. The organization has grown tremendously during the last 16 years and now consists of 42 different centers in Korea. In 2009 alone, the center provided over 20,000 samples to researchers in the industry. In addition, more than 800 research papers in the last 5 years have used samples from the center.

Hear directly from Professor Yeonhee Lee, Head of the KNRRC, as she shares insights from the center including:
• Strategies for producing center guidelines, running the total management system and database, and educating workforces
• Clarity on the center’s resources, which are prepared directly for research without the need for second processing
• Goals and future expectations for the KNRRC

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