Evaluating Business Intelligence Opportunities in the Pharmaceutical Industry (Strategy Focus)

Table of Contents

• DATAMONITOR VIEW
  • CATALYST
  • SUMMARY
  • METHODOLOGY
• ANALYSIS
  • Market factors are driving adoption of translational medicine and specifically BI solutions
    • External pressures are driving pharmaceutical companies to embrace translational research
    • Both cultural and technology barriers slow the progress of translational medicine
  • BI opportunities exist at several levels within the pharmaceutical market
    • Enterprise-class BI solutions have the power to evolve with an organization' s changing business needs
    • BI spending by end-user group in Big Pharma and Biotech differs significantly
  • The industry requires vendors with high "market readiness" in translational medicine
    • Market sizing information is necessary but insufficient for identifying which sector to target
    • Vendors should consider four criteria when evaluating market opportunities
      • Market presence influences client perception about a BI solution and its vendor
      • Industry-specific solutions reflect domain expertise
      • A sales force with industry experience will resonate with pharmaceutical clients
      • Partnerships with niche vendors or academic medical centers (AMCs) build credibility
    • BI vendors with high market readiness will realize the most success in the pharmaceutical industry
  • A number of vendors have implemented successful strategies for BI in pharmaceuticals
    • Genstruct
    • GenoLogics Life Sciences Software Inc. (GenoLogics)
    • Oracle
    • SAS
• ACTIONS
  • BI solutions for Biotech and Big Pharma are not "one size fits...both"
  • Approach an attaractive opportunity through the market-readiness lens
  • Partner with innovators
• APPENDIX
  • Definitions
  • Abbreviations
  • Further reading
  • Datamonitor Technology Consultancy
  • Ask the analyst
  • List of Figures
    • Figure 1: The Big Pharma sector is the largest market opportunity in BI solutions ($ spent)
    • Figure 2: BI spending by technology (services vs. software) 2006-2012
    • Figure 3: Big Pharma will spend more on BI tools for clinical and sales & marketing application than Biotech
    • Figure 4: A framework for evaluating BI market opportunities in the pharmaceutical industry
    • Figure 5: Both horizontal and niche vendors offer valuable BI solutions for translational medicine