Predictive Analyses: How Compliance Could Lead to a Leap Forward

The looming IDMP regulatory changes are predicted to force organizations to harmonize their data across their internal silos. Some will invest in these pre-eminent upgrades by planning early and architecting a solid cross-silo master data entity model, which could springboard their respective organizations forward and help to improve business processes, improve business intelligence, and exploit predicative analyses. Others sadly, will not.

By Loriene R. Woodell, Practice Partner, CIO Advisory, CSC Life Sciences

If history is a predictor of the future, the second group will wait until the last minute, expend the same effort or more in a hectic burst, and will most likely repeat this process year after year without being able to leverage these data or gain insights. We are suggesting that organizations carefully plan how to make the best use of their data investments rather than waiting until the last minute.

Life sciences organizations have tended to manage their data in silos. The goal now is to view their data in a holistic manner – having one view that represents a credible single source of truth amongst various stakeholders across the organization. However, often when these views are finally collated, they can lose their credibility as they become obsolete over time due to a lack of focus on data governance. A solid data governance program should involve participants from across the organization as well as select external parties with whom data elements can be compared and verified at some regular frequency. Reaching and maintaining a state of data purity is an achievement few organizations ever reach. It is my belief that data governance is just as imperative as the architecture itself. It is this state of data cleanliness that reduces the risk of reporting poor quality data and builds the confidence level of both the reports as well as the insights developed.

Regulations like Identification of Medicinal Products (IDMP) will require companies to invest in their data infrastructures in a cross-silo manner. These regulations are predicted to mandate that the politics and the competing priorities which often thwart these efforts will have to become a second priority for a duration of time when these investments are being made. This is all good news. The danger however lies in waiting until the deadline and then rushing to comply by kluging together a solution that can’t be leveraged for any other purpose and simply represents another data silo that IT has to maintain. The news that IDMP is expected to move to the end of 2017 might suggest breathing space for companies, but a better way of looking at it, I believe, would be to use the time to optimize data to achieve value beyond compliance.

Investing in a holistic information management platform can provide customers with the ability to clean up the key master data elements, govern key data elements and golden records across silos, and finally, leverage the big data insights a solution like Intelligent RIM can offer.

Missed Opportunities

Over the years that I have been advising life sciences companies, I have witnessed a number of examples of companies debating about how and when to take on a project and then ultimately pushing out the start date to such an extent that the decision to build a tactical solution was the only option left on the table.

For example, I had worked with several clients on the Sunshine Act in the United States and the effort put into building a platform – synchronizing the data flows between vendors was enormous. In most cases the opportunity to develop insights and get on the front foot was lost by the time the project was finally initiated.

There was and will be tremendous opportunities to gain insights from projects initiated by regulatory requirements, but the tight deadlines companies impose on themselves by not starting early leaves little room but to implement any more than “bare bones” solutions just to meet a compliance measure. With enough time allowed, companies can use the opportunity to improve processes, business intelligence, and develop predictive insights. With IDMP looming, I sincerely hope companies take the opportunity to do more.

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