A Closer Look at Big Data and Analytics to Improve Drug Development Performance
McKinsey & Co., recently said, “BIG DATA could reduce research and development costs for pharmaceutical companies by $40 - $70 billion, and an era of open information in health care is now under way.” Big data is one of the hottestbuzz phrases among Pharmaceutical information technology today. Executives across the life science industry recognize that the implications of utilizing big data in a way that will benefit the business cannot be ignored. Exploring the use of big data through utilization of such capabilities as data analytics and data mining, gives companies the opportunity to discover new insights among existing information that can make businesses increasingly agile in ways that may have been unattainable until now. Covance is the market leader in central laboratory and pre-clinical services, and one of the top six providers of Phase 1-4 clinical trial services. Covance has one of the most comprehensive investigator knowledge-base in the pharmaceutical industry. Using this vast amount of data we have developed Xcellerate, a market leading product. It is a unique, proprietary approach to forecasting, investigator and site selection, and clinical trial management, designed to optimize trial results in order to help clients improve quality, reduce waste, decrease timelines, increase ROI and help get therapies to market faster.
Krish Ghosh is Vice President of Informatics at Covance, and serves as a member of the Informatics Executive Management team reporting to the CDO of the company. Prior to this, Krish was the Vice President of Global Resource Management and reported to the CFO. Krish joined Covance in May of 2006. He is responsible for leading Global Informatics activities. He has developed innovative methods and solutions to help drive value in the drug development continuum, business performance/expansions, and supported the growth, capacity management, expansion efforts, and profitability of the company.
In addition, Krish has 13 years of Pharmaceutical industry experience and 4 years in academics. He was the Director of Project Planning and Information at Wyeth and held different positions in R&D at BMS.
Krish holds a Ph.D. in Statistics and an MBA in Finance from Temple University.