In the constantly evolving pharmaceutical industry, innovation does not mean just inventing the next breakthrough drug. It also means how well companies manage and utilize their data. However, moving from drug discovery to patient care involves a series of data challenges that can impede progress and innovation. For a start, pharmaceutical firms must confront these issues so as to be in the lead when it comes to innovation.
CriticalRiver leads the way in resolving these significant data questions. Our strategy is comprehensive; we focus on specific areas that are vital for pharma businesses to prosper in today’s world, where data is an asset or liability.
Guaranteeing Data Privacy in Healthcare
Pharmaceutical data security and privacy are given priority at CriticalRiver, especially during this age when healthcare organizations’ reputations are at stake as a result of breaches. In addition, findings from a recent Gartner Peer Insights survey – Cybersecurity in the Healthcare Industry – show that nearly half of participating healthcare organizations have experienced a data breach in the past two years. With this said, CriticalRiver conducts full assessment reports and develops tailored security procedures that will help maintain the confidentiality of all medical records.
Data Integration and Governance Simplified
Disparate data sources and out of sync datasets may impede crucial research efforts. According to the NewVantage Partners survey, only 24% of them believed their organizations were data-driven. At CriticalRiver, we appraise the existing data architectures in order to design seamless integration solutions through strong data platforms, lakes, and engineering practices. Our expertise in data governance in drug development ensures that pharmaceutical companies establish frameworks that promote accountability and responsible data management.
Better Quality Data for Compliance
Irrefutable integrity for pharmaceutical information is demanded. Non-compliance often results in regulatory fines running into billions. That is why CriticalRiver’s comprehensive data quality assessments for pharmaceuticals of all available medical information as well as automated validation processes have always ensured that pharmaceutical companies’ data meets and exceeds industry standards. Our training programs also help our employees learn how to maintain those standards, thus aligning with pharmaceutical data compliance solutions and requirements.
Dealing with the Volume and Complexity of Data
The global big data healthcare market stood at USD 32.9 billion in 2021 and is expected to surge at a remarkable CAGR of about 13.85% between 2022 and 2030, reaching USD 105.73 billion by the end of the forecast period. This phenomenal growth justifies the intensified concern and intricacy related to information governance within health industries, including pharma. CriticalRiver advises on selecting scalable cloud infrastructure for pharmaceutical data and deploying big data technologies that can effectively address this challenge. Our advanced analytics for drug discovery, along with bespoke machine learning models, are key components for generating valuable insights that drive pharmaceutical innovation.
Enabling Real-Time Data Analytics
In such a fast-moving industry as pharmaceuticals, having real-time data to base your decisions on becomes a game changer. When it comes to quick decision-making, the expertise of CriticalRiver in processing pipelines for real-time data together with AI algorithms proves highly useful. Additionally, with easy-to-use visualization dashboards that convert complex metrics into actionable tips for doing business better, our company strengthens the importance of real-time analysis during new drug development processes.
By solving these vital issues around data management, CriticalRiver enables drug companies to unleash their full capabilities.
