How data science is used in pharmaceutical industry?

Big data analytics in pharma can help pharmaceutical businesses to reduce the cost and speed up clinical trials by identifying and analyzing various data points: such as the participants’ demographic and historical data, remote patient monitoring data, and by examining past clinical trial events data.

Is data science useful for pharmacy students?

Equipping a pharmacist with the knowledge of data analytics is highly crucial for the quality of data research outcomes for the pharma and healthcare industry in the country. There is going to be a demand for more than 70,000 data scientists in India in the next 12 months, second highest after the US.

What is the importance of data science in Pharma?

Data Science in Pharma. The use of data science in pharma has far-reaching implications for those deciding upon a degree in this type of field. The pharmaceutical industry constantly makes use of important statistical information gathered from a wide variety of sources.

What are the best industries to work in for data science?

Knowledge in bioinformatics is a plus. Especially for people with a science background that want to enter the data science field, this industry gives plenty of opportunities. The utilities industry is providing basic public amenities like water, electricity, or natural gas.

Can data science shorten the time to get a drug approved?

Clinical trials are one of the most frustrating parts of getting a new drug approved. Clinical trials can drag on for extended periods of time and are expensive, but necessary, to fulfill. Theoretically, data science holds the key to the technology needed to shorten this process and make it more cost effective as well.

Should scientists shift from academia to industry?

He now regularly issues similar counsel to scientists hoping to shift from academia to industry, encouraging them to flip their CV — and their mindset — to reflect the differences between the sectors. Biotechnology and pharmaceutical industry positions are attractive to many recent PhD graduates — and are thus highly competitive.