The factors shaping this change are complex and relate to the following trends:
The life sciences sector is becoming known as the data mining sector – organisations who use data to drive business decisions and performance. Data can only drive and inform business decision-making if it is trusted, accurate and timely, as well as shared, analysed and understood. Having access to verified, time-sensitive data that is handled and accessed by the right people at the right time is a key competitive advantage. An Enterprise Data Management (EDM) strategy gives life science, pharmaceutical, bio technology and medical device organisations, sustainability to support both current and future data management needs.
Across the enterprise, key stakeholders, such as finance, operations and IT directors as well as those responsible for product development, regulatory reporting, business intelligence and more, need visibility of business performance.
With a robust and proven Enterprise Data Management solution that supports pulling data from multiple sources into one single version of the truth is made easy. Having access to all the relevant data which is consolidated, accurate and timely will enable stakeholders to gain the insights needed to effectively manage the whole organisation. EDM allows life science companies to bring together data from all parts and systems of the enterprise into one system, no matter what format. All this is automated and requires no manual intervention, and no IT involvement.
Life science organisations and the finance, operational and key stakeholders will have access to the data they need to improve business performance, operational costs to stay ahead of the competition.