Biotech Success: The Synergy of Data Integrations and AI

By
Jin Kim
February 15, 2024
5
min read
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Maximizing Potential and Innovation: Five Key Benefits of Combining Data Integrations and AI in Biotech

Having spent the past three days at the SCOPE Summit, I can tell you without question that in our industry, data integration is not just a buzzword; it's a critical enabler of success for biotech companies.  

The buzzword at SCOPE is Artificial Intelligence (AI) and machine learning and large language models. So what good is one without the other?  

In my many conversations over the course of this week, organizations and thought leaders have been discussing how with data integrations, biotech companies can enhance data quality, uncover novel insights, and develop more accurate predictive models, ultimately driving innovation and improving patient care. But how?  

First we have to look at some of the challenges with the data and its integrations before we can address them.  

In the fast-paced world of biotechnology, where innovation drives progress, data reigns supreme. Whether a company is in the discovery phase or has drugs in the pipeline, the ability to harness and integrate data from multiple sources can be a game-changer.  

Reason #1 Trust in Innovation & AI

But there is still strong distrust for the data supporting these models and how they integrate across systems, which leaves many organizations pushing spreadsheets to track complex information.  

According to a recent poll in Forbes, 64% of businesses believe artificial intelligence (AI) will boost productivity and improve customer relations, especially in healthcare. However, successfully integrating AI depends on a diverse range of perspectives from various stakeholders.

Nearly half said it could streamline processes - a problem direly needed in pharma.  

Reason #2 - Getting Biotech on Board with AI & Data Quality

Smart data models and AI can play a pivotal role in leveraging data-driven insights for pharmaceutical companies and clinical operations if integrated thoughtfully. As organizations increasingly recognize the value of data integrations, smart data models and AI technologies may actually become indispensable tools for extracting actionable insights from the vast amounts of data available in the healthcare industry.  

Biotech companies often rely on a multitude of data sources, including clinical trials, genomic sequencing, and real-world evidence.  

However, these data streams can be disparate and fragmented, leading to inconsistencies and inaccuracies. By integrating data from various sources into a unified platform, biotechs can ensure the quality and reliability of their data. This unified view allows for better data governance practices, such as standardization and normalization, which are essential for accurate analysis and decision-making.

One of the key benefits of smart data models and AI is their ability to enhance data quality. By analyzing and processing data from multiple sources, these technologies can identify and correct errors, inconsistencies, and missing information, thus improving the overall reliability and accuracy of the data.

Reason #3 - Uncovering Novel Patterns and Mechanisms

The sheer volume and complexity of biotech data make it challenging to identify meaningful insights manually. However, by integrating data from diverse sources, biotechs can uncover novel patterns and mechanisms that may have gone unnoticed otherwise.  

Reason #4 - Putting Clinical Operations in Control

So how do we put these data integrations to work for clinical operations teams to empower them with real-time data across multiple systems? We can start with patient enrollment.  In fact, more than 80% of trials fail to enroll on time an can cost between $600,000 and $8 million for each day that a trial delays a product’s development and launch

Reason #5  - Miracle & Seamless Integrations

This is where we can start to see alignment between our challenges and our opportunities. A great example is our recent integration with Medidata Rave, one of the leading Electronic Data Capture (EDC) systems in the biotech and pharmaceutical industry. Our new unique Medidata Rave connector offers an easy, effortless integration for biotech companies using Medidata as their EDC in their clinical studies. We are all working towards a common goal and good here.  

By providing clinical operations teams with real-time visibility into enrollment metrics, patient recruitment trends, and study completion timelines, pharma companies can optimize trial management processes and make data-driven decisions to improve study outcomes.  

Smart data models and AI enable biotech and pharmaceutical companies to uncover novel insights and patterns that may not be apparent through traditional analysis methods.  

These data points highlight the significant investment of time and resources required for clinical research and drug development, underscoring the importance of streamlining processes and improving efficiency in order to bring innovative therapies to market in a timely and cost-effective manner.

By applying advanced analytics techniques such as machine learning and natural language processing, these technologies can identify correlations, trends, and hidden relationships within complex datasets.  

This can lead to the discovery we are all trying to get to - ultimately driving innovation in drug development and improving patient care.

To learn more about our seamless, data-driven insights, contact us.

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Jin Kim

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