Streamline Planning, Budgeting & Analysis for the Biotech & Pharmacuetical Industry

By Kelly Nuckolls in Artificial Intelligence (AI), Business Analytics, Expertise, Financial Planning

Biotech and pharmaceutical organizations are operating in an era of significant transformation, with shifting healthcare and FDA regulations, constant pressure for meaningful innovation, and increasingly intricate supply chains and distribution models. 

The constant pressure on research and development and successfully bringing new products to market requires high-stakes investments, cutting-edge research, fine-tuned manufacturing processes and specialized commercial sales teams. It takes the average organization over 15 years to bring a new clinical product to market, so biotech and pharma organizations need to make intelligent investment decisions that maximize development efficiency to gain the competitive edge. Newly approved drugs are typically granted market exclusivity for a specific length of time, so it’s critical to maximize sales and production efficiency to generate ROI post R&D. 

Through insights, algorithms and AI, Grandview equips organizations with everything they need to streamline planning, budgeting, forecasting and analysis... and truly differentiate with data. The opportunity around business analytics for the life science industries is extremely compelling given the massive explosion in types and volumes of available data. Imagine a future where: 

  • Predictive modeling becomes significantly more sophisticated and widespread. By leveraging diverse molecular and clinical data, predictive modeling could help identify new potential-candidate molecules with a high probability of being successfully developed into FDA-approved drugs. 
  • Patients are identified to enroll in clinical trials based on different sources outside of the doctor’s office. This criteria for including patients in a trial could take significantly more factors into account to target specific populations, thereby enabling trials that are smaller, shorter, less expensive, and more powerful. 
  • Trials are monitored in real time to rapidly identify safety or operational signals requiring action to avoid significant and potentially costly issues such as adverse events and unnecessary delays. 
  • Instead of rigid data silos, data is captured electronically and flows easily between functions, for example, discovery and clinical development, as well as to external partners. This flow is essential for powering the real-time intelligence and predictive insights that generate true business value.

Insights that accelerate decisions 

Clinical researchers need data analysis and visualization tools to accelerate research, drive innovation and facilitate collaboration. Whether for clinical data review, pharmacovigilance, risk monitoring or supply management, data is the most important asset. Grandview helps organizations integrate and manage the vast amounts of data arriving from many sources – all while complying with ever more stringent regulatory requirements. 

So how can your biotech firms make confident, unbiased decisions that could save lives and improve treatments? It takes a new breed of analytics that infuses traditional business analytics with augmented intelligence. Augmented intelligence enables data analytics tools to learn and adapt to unique needs and guide users to new insights while removing the human bias that can cloud the thought process and prevent true discovery. The benefits of which include: 

  • Expanded information management: Fully integrated environments span from operational data systems, electronic health records, sensors and wearables, biomarker data, and more. This end-to-end management of comprehensive clinical data translates to less time spent on operational data management and more exploring, monitoring and executing on statistics. 
  • Empowered roles with approachable analytics: Next-gen technology solutions give pre-clinical, clinical operations and medical affairs team members the ability to drive global collaboration.  
  • Streamlined and automated processes: Lowering cost and increasing efficiency in clinical research are critical to delivering high-value treatments. 

About Grandview

Grandview combines strategy, technology, artificial intelligence and data-driven intuition to solve your most complex business challenges. By embedding analytics into everyday processes, our clients have the ability to synthesize information from all data sources, uncover trends and deliver insights faster than ever.  

Grandview’s flexible business model allows us to engage with our customers during critical pain points or holistically in a continuous planning model. Engagements could be as simple as addressing a manual forecasting process, providing data analytics on the key business drivers or utilizing more advanced insights to chart the best course forward.