What Modern Data Analytics Can Do for Life Sciences

Though data analytics have the potential to improve any company or industry, data analysis for life sciences is seldom discussed.

We recently came across a whitepaper by Knowledgent that predicts benefits in the healthcare-payer system, evidence-based medicine, research and development, and public health — among the many life sciences areas that will improve via big data analysis.

We wholeheartedly agree with their findings, especially their point about real-time analytics being a central piece of the puzzle:

“The lag between data collection and processing has to be addressed. Also, the dynamic availability of numerous analytics algorithms, models, and methods is necessary for large-scale adoption.”

At ThoughtSpot, we’re pleased to say that the lag between collection and processing doesn’t have to exist any longer. Life science and healthcare organizations can put their data into instant, relevant use with artificial intelligence (AI) analytics platforms.

Protect Data with Enterprise Governance
It’s not just the lack of data access that’s holding the life sciences industry back, but also the governance and architecture needed to streamline the drug-discovery process.

Life sciences data analytics tools allow biopharma firms to keep their data secure while enabling their scientists and researchers to analyze drug results in seconds and easily compare clinical trial results with historical genomics data.
Accelerate Findings with Clear and Engaging Data Visualizations
Developing life-saving medicine is a time-consuming, expensive process. Many life sciences firms depend on R&D funding to push progress forward. But most business intelligence platforms haven’t allowed organizations to prove the value of the medicine they’re creating.

ThoughtSpot facilitates knowledge discovery and sharing by presenting answers via easy-to-understand charts, graphs, maps, and tables that users can pin and share.
Search an Entire Data Archive, Ad-Hoc
As essential as doctors and nurses are to day-to-day healthcare, they’re still humans and can only provide treatment based on their experience and education. This results in some guesswork when a new patient is being seen.

Using a platform like ThoughtSpot, medical professionals can quickly process and access computerized physician order entries (CPOE) to reduce the risk of medication errors and review a patient’s entire medical history and treatment to see what’s worked and what hasn’t.
Gaining Hidden Insights via AI
Artificial intelligence offers the most potential for improvement in the life sciences industry by far. As granular as healthcare data can get, it’s unreasonable to expect humans to find and decipher every piece of knowledge.

AI-powered tools like SpotIQ help organizations and users put their data to use by presenting additional insights with every answer it generates. Stay on top of data anomalies, key indicators, causal and noncausal relationships with SpotIQ.

Data analytics for life sciences is only just beginning but organizations can enjoy the benefits of modern artificial intelligence and business intelligence tools now by integrating with ThoughtSpot.