How Are Pharmaceutical Companies Using Data | Intellipaat #ShortsVideo #DataScience
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Get ready to explore the world of Data Science with our Intellipaat Podcast episode focusing on How Data Scientists Solves Business Problems.
In this video, our esteemed guest, Mr. Shivam Kotwalia, Ex-(Meta, McKinsey) will help us understand the concept of “How Are Pharmaceutical Companies Using Data”, where he will discuss how Pharmaceutical companies use data to provide better products and services to their customers. He will also share valuable insights on how to become a successful Data Scientist. Stay tuned!
Check out this Full Podcast Episode Below
✅ How is data used in the pharmaceutical industry?
Data science in the pharmaceutical industry is extensively used to improve its operations through applications such as predictive modeling, segmentation analysis, machine learning algorithms, visualization tools, etc., which help improve decision-making processes.
✅ How do pharmaceutical companies use big data?
Big data allows pharma to access global genetic data banks, shortening the lead time for the development of new drugs. Cross-referencing those digital sources may also uncover suitable off-label uses for a new drug.
✅ What is a data strategy for pharma companies?
By analyzing historical sales data, market trends, and demographic information, a pharmaceutical organization developed accurate demand forecasting models. These models enabled them to optimize inventory levels, reduce stockouts, and enhance overall supply chain efficiency.