Data

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive

Data integration has reshaped the pharmaceutical industry changing it in extraordinary ways. Companies have never had more access to data and have never collected and categorized data as rapidly as now. And although pharma has its challenging areas, such as forecasting and data integrity, there are also many beneficial areas.

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive

Data integrity is crucial in pharma; it is the key factor in determining the quality of a product. With recent regulatory concerns related to poor practices, findings have shown that the data that often takes years to compile can barely make it through inspections in some cases. When the integrity of information is compromised, so is the reliability and validity of the products. If that isn't concerning enough, consider the incredible amount of time and funds wasted in avoidable situations.

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive

The effects of the last year have caused companies to take inventory of the holes in their buckets, to review their current systems, and to refine strategies to keep businesses afloat. Many companies realized the weaknesses within their operations as customers’ needs rapidly changed. Undoubtedly, technology played a major role in supporting businesses all over the world throughout the past year. Outlined below are the top 5 tech trends to watch for in 2021.

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive

Proper planning and accurate forecasting in the pharmaceutical industry are vital, and skipping this step can cost pharmaceutical companies countless hours and billions of dollars. Because forecasting involves analyzing previously collected data and making predictions about future trends, there are numerous factors to consider, including selecting the best techniques to use. Forecasting strategies, determining and using the most important data, and using the best management practices contribute to whether the forecast will be successful or a bust. 

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive

Forecasts are pretty valuable in any industry. However, in the pharmaceutical industry, accurate forecasting can be particularly challenging to achieve. In previous years, studies have shown exactly how difficult pharma forecasting can be as the large majority of 1,700 forecasts over nine years failed to show and prove.