Riding the Information Technology Wave in Life Sciences: Priorities, Pitfalls and Promise
This report provides a view of how the current technology wave—defined in terms of cloud- based storage, new applications, systems integration, and embedded analytics—will be harnessed by life sciences companies in their commercialization activities and why this is necessary for these companies to succeed in bringing innovative diagnostic and treatment options to patients.
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Life sciences companies are in the midst of riding the technology wave that has already transformed many industries. They are using technology to bring new types of value to health systems not only through the quality of scientific innovation but also by understanding current patient treatment pathways to help clarify and support helpful clinical approaches. This is changing the role of life sciences companies and bringing much greater use of technology to commercialization functions.
News & Media Coverage
Below, IMS Institute Executive Director Murray Aitken discusses three key findings in this report. Click here to view additional videos from this report.
Life Sciences Company Needs
- Companies store and process information on core functions of the business, and disseminate that information to internal users in sales, marketing and analytics departments
- Management teams are turning to technology-based approaches to optimize commercial performance
- Technology is being utilized as a critical means by which companies can better align their activities across departments, and provide better ability to adjust course and tactics
Putting Information Technology to Use in the Life Sciences
- As market pressures reduce the lifetime earnings of medicines, life sciences companies will need to reduce spend within their commercial operations, and use new information technologies to accomplish this
- For cloud technologies to be used more broadly in the life sciences, this will require improved security and compliance commitments from cloud providers
- Life sciences companies should investigate ways to gain efficiencies and cost savings through cloud technologies including storage, building platforms, and applications
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