Pharmaceutical companies have always relied on empirical data in order to identify patterns, test theories and understand the efficacy of treatments. Big data is just another evolution in a trend that has been continuing for hundreds of years: that of human beings having ever greater access to information and data.
The capability now exists to process and make sense of great volumes of data through analytic technology and represents a unprecedented opportunity for scientists and pharmaceutical companies. Whether from accelerating drug discovery or better understanding patient trends and behaviour, Big Data holds great promise for those companies looking to tap its potential.
But to really garner the benefits requires a different way of looking at data. Here are 6 ways that pharmaceutical companies can use Big Data to generate business value and drive innovation.
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