In recent years, the biopharmaceutical industry has seen an explosion in the availability of Big Data that can generate valuable insights. Despite this, the inherent costs and challenges that come with utilizing Big Data have caused the biopharmaceutical sector to embrace Big Data analytics much slower than other industries.

According to a recent study by benchmarking firm, Best Practices, LLC, 53% of participants already have a Big Data team or function in place; however, these organizations are still in the early stages of utilizing large data sets from different sources to inform critical aspects of Medical Affairs operations.

The related report, "Big Data in Pharma: Current & Future Trends for Big Data Utilization Across Medical Affairs Functions," was designed to help leaders to better understand the growing influence of Big Data in the biopharmaceutical sector and how it impacts medical, HEOR, and commercial operations.

Key study topics include:
Types of Big Data Projects Used to Support Medical, Commercial, and HEOR Decisions
Big Data Capabilities and Governance
Types and Value of Data Used for Big Data Projects
Big Data Staffing and Budget Levels
Value Rating of Partnerships on Big Data Projects
Policies and Procedures Governing Big Data Activities

This benchmarking research drew participation from 12 leaders from 11 leading pharmaceutical companies through a benchmark survey in regards to Big Data usage in Medical Affairs.