Data Rich and Information Poor

Strategies to get more value from your data.

Data is vital to any organization; it’s a critical resource that drives innovation and growth. In the life sciences industry, data can speed up drug discovery and improve the quality of clinical trials. Big data, data warehouses, and data lakes emphasize gathering more data, and you can become data rich when you collect large volumes of data inside and outside of your organization. But having access to more data doesn’t equate to more successful business outcomes.

As your organization grows and new technologies are added, you may accumulate an overwhelming amount of data and leave large data sets unprocessed and unanalyzed. If data is not used to make strategic decisions, it can become a liability instead of an asset due to storage costs and maintenance. Don’t risk losing these opportunities to gain valuable insights.

When large volumes of data are collected with no clear plan to organize, process, and analyze it, you become data rich and information poor. The more time it takes to discover meaningful insights, the less efficient you are at achieving high-impact business outcomes. You become less competitive in the global marketplace.

This industry is complex and heavily regulated, and life sciences companies often have poor visibility into their data due to data and process silos. This fragmentation can lead to critical knowledge gaps that affect your ability to make timely and strategic decisions and prevent you from becoming a connected and intelligent digital enterprise.

Here are some strategies to drive high-value business decisions and compete in the hyper-competitive global marketplace:

Develop a data management plan – Adopt a strategy that delivers better access to data, quality over quantity, and frictionless data and knowledge sharing models.

Establish a data governance model – Increase collaboration and improve the compliance and security of your most valuable assets.

Generate valuable insights – Insights are not just needed for executives and the C-Suite. Empower your teams to make better business decisions by sharing data across the enterprise.

Create a data-driven culture – Access to better insights triggers a cultural shift within organizations to stay proactive and make accurate decisions from all areas of the operations.

At USDM, our team of experts offers the following services to help your organization on its information-rich journey.

LIFE SCIENCES EXPERTISE

COMPLIANCE SIMPLIFIED

GxP TECHNOLOGIES OPTIMIZED

Below are some technologies we work with to ensure GxP-ready data management and governance across your tech stack.