APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • Pharma and Life Science
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    Editor's Pick (1 - 4 of 8)
    left
    The 4Ps of Digital Transformation in Pharmaceutical Industry

    Debraj Dasgupta, Operating Officer, Head of Strategy and Go-To-Market Planning Division, Nippon Boehringer Ingelheim

    Cloud Computing: Pharma Takes the Plunge

    Andy Newsom, SVP & CIO, CSL Behring

    Machine Learning & Artificial Intelligence in Healthcare Industry

    James Woo, CIO, The Farrer Park Company

    Connected Patients: Healthcare and the Internet of Things

    Geoff Feakes, Group CIO, Tunstall Healthcare Group

    Building a Quality-Focused IT Foundation for a Biopharmaceutical Enterprise

    Andy Newsom, SVP, CIO, CSL Behring

    Points of Focus for CIOs to Succeed in the Next Decade and Beyond

    Dr. Joseph Frassica, CMIO/CTO, Patient Care and Monitoring Solutions, Philips Healthcare

    Innovating Technology -Based Metadata Solutions for Improved Data Analysis

    Douglas Barta, CIO, PAREXEL International

    Real-Time Actionable Intelligence with a Solid Analytics Platform

    Rajeev Nair,

    right

    The Real Value of Big Data in Life Sciences is Confidence

    Sid Nair, VP & GM, Healthcare and Life Sciences, Dell Services

    Tweet
    content-image

    Sid Nair, VP & GM, Healthcare and Life Sciences, Dell Services

    Until recently, the validity of the results from statistical modeling rested upon meeting the model’s underlying assumptions and whether the sample accurately represented the whole population. Cost, lack of compute ability and the slow speed of analysis made it difficult or impossible to record, aggregate and analyze very large data sets. Sampling, theory and assumptions were necessary, but their accuracy was difficult to verify.

    The recent advent of Big Data tools—high power computing combined with software to access, integrate and analyze data and report the results—means that we are no longer restricted to sampling, theory and assumption. These new tools allow us to completely supersede those assumptions and analyze entire data sets of enormous size.

    New Tools let us Ask New Questions Recent advances in technology not only give us the computing power to analyze these Big Data sets in ways that are cost-efficient and timely, they also greatly expand our access to data. The new integration applications can reach out to the cloud to gather data beyond our organizations, integrate that data in ways that make it useful, and cache the data in its analysis-ready state. New analytic tools allow us to look at the data in new ways and do it quickly and cheaply (relatively speaking). Combine all that with new, user-friendly reporting mechanisms, and you get insights that are actionable.

    The real value of Big Data in the life sciences is that it gives us the confidence to act on our results. We no longer analyze samples and hope our results are true for the total population. We now know that the results apply to the entire population, because our data sets are so large that the biases and errors inherent in small data sets disappear. The data are our model and access to large data sets also allows us to verify the accuracy of our sampling techniques and the statistical models we use.

    Data Sets Continue to Grow To make full use of these new tools you need access to large data sets that encompass many variables.

    Fortunately the variety of data now being recorded is unlike anything we’ve seen before. Electronic medical records, wearable devices, social media, web clicks and a host of other sources allow us to look at variables that were once inaccessible. This allows us to ask new questions and look at old problems in new ways. The unexplained variability that we had to accept in the past can often be accounted for when these new variables are added to the data. And we now have the ability to test interactions between multiple variables quickly, efficiently and at low cost, expanding our knowledge and understanding.

    "The recent advent of Big Data tools means that we are no longer restricted to sampling, theory and assumption"

    Speed Turns Long Journeys into Day Trips Beyond adding confidence to our answers, the new analytic power makes possible new journeys, especially in the area of genomics. The size of the data in a human genome is so immense that until a few years ago, analyzing even one genome could take months or even years. With the computing power and analytic techniques currently available, analysis of a tumor cell genome can be done in a matter of hours. The implications for drug development and for matching drugs to individual patients are enormous.

    Even with the New Tools, you still have to Ask the Right Questions A widely accepted recipe for effective use of analytics states “Right question+ large data set (Big Data) + simple model = actionable results.” Note that the first ingredient is the right question. If you ask questions that can’t be answered with the data at hand, or if the answers rely on variables that aren’t included in the analysis, the results will be meaningless. That’s why you need a collaboration between the business and clinical leaders, who know what problems need to be solved, and data scientists, who can help access and integrate the right data to answer the question.

    Though not all IT departments have data scientists on staff, most life sciences organizations have data scientists in their research divisions. Use those experts to help craft analytics projects in non-medical areas, such as operations, finance, manufacturing and marketing, at least at the outset. Over the long term, CIOs should plan on adding data science skills to their staff, to help business and clinical leaders formulate questions appropriately and access the data needed.

    A good consultant can also help you assess opportunities for data mining and analysis and help you select a software suite that covers all three major areas of concern: data access, integration and management; analytics; and reporting.

    CIOs Should Lead While there are many point solutions in the analytics market that can help answer questions in a limited realm, these can be more trouble than they are worth, because they tend to create and reinforce data silos. That’s the opposite of what you want. The future of analytics lies in the ability to use a wide scope of data for better insights, and data silos are anathema to that future.

    However, if the CIO actively leads on analytics, partnering with the individual stakeholders and establishing a comprehensive data strategy, the organization can avoid the proliferation of these point solutions. Rational data governance and powerful, scalable and flexible analytics tools will build a program that will give you actionable insights. Those insights can help you be more competitive and more efficient, and, on a broader level, help you solve the biggest healthcare problem of all: how to achieve better outcomes at lower cost.

    tag

    Big Data

    Life Sciences

    Genomics

    Weekly Brief

    loading
    Top 10 Pharma and Life Science Technology Companies - 2020
    ON THE DECK

    Pharma and Life Science 2020

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Advancing the Chemical Industry through Digital Transformation

    Advancing the Chemical Industry through Digital Transformation

    Jan Mandrup Olesen, Global Head of Digital Business, Indorama Ventures
    Cultivating a Sustainable Future through Collaboration

    Cultivating a Sustainable Future through Collaboration

    Jiunn Shih, Chief Marketing, Innovation & Sustainability Officer, Zespri International
    Mastering Digital Marketing Strategies

    Mastering Digital Marketing Strategies

    Tasya Aulia, Director of Marketing and Communications, Meliá Hotels International
    Building a Strong Collaborative Framework for Artificial Intelligence

    Building a Strong Collaborative Framework for Artificial Intelligence

    Boon Siew Han, Regional Head of Humanoid Component Business & R&D (Apac & Greater China), Schaeffler
    From Legacy to Agility Through Digital Transformation

    From Legacy to Agility Through Digital Transformation

    Athikom Kanchanavibhu, EVP, Digital & Technology Transformation, Mitr Phol Group
    Change Management for Clinical Ancillary Teams: Aligning Practice with Policy and Progress

    Change Management for Clinical Ancillary Teams: Aligning Practice with Policy and Progress

    Ts. Dr. James Chong, Chief Executive Officer, Columbia Asia Hospital – Tebrau
    Digital Transformation: A Journey Beyond Technology

    Digital Transformation: A Journey Beyond Technology

    John Ang, Group CTO, EtonHouse International Education Group
    Building A Strong Data Foundation: The Key To Successful Ai Integration In Business

    Building A Strong Data Foundation: The Key To Successful Ai Integration In Business

    Richa Arora, Senior Director Of Data Governance, Cbre
    Loading...
    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://pharma.apacciooutlook.com/cxoinsights/the-real-value-of-big-data-in-life-sciences-is-confidence-nwid-333.html