The impact of big data on innovation and value generation in pharmaceutical sales and marketing

Abstract

Using Big Data in the pharmaceutical industry is a relatively new technology, and the benefits and applications are yet to be understood. There are some cases currently being piloted, but others have already been adopted by some pharmaceutical organizations, proving the unmet need in a field that is still in its infancy. This paper aims to understand how and if Big Data can contribute to commercial innovation, as well as future trends, investment opportunities. Participants from 26 pharmaceutical companies participated in different focus groups where topics were grouped by individuals and evaluation areas were discussed to discover any potential connections between Big Data and Innovation in commercial pharmaceutical environments. This study used the collected data to analyze and draw conclusions about how many life sciences leaders and professionals already know about Big Data and are identifying examples and processes where Big data is supporting and generating innovation. In addition, we were able to understand that the industry is already comfortable with Big Data, and there were some very accurate research results regarding the most pertinent application fields and key considerations moving forward. Using the network analysis findings and the relationships and connections explained by respondents, we can reveal how Big Data and innovation are interconnected.