Are Data Scientists Useful at Pharmaceutical Companies?January 14, 2019
Data science has been disrupting the industries for the past couple of years. With the advent of technology, data and the hidden insights in them are widely being used to improve every industry. The industries like finance and health care have already made their way up using data science technology. This article discusses whether data scientists are important to pharmaceutical companies.
Well, data in the hands of a skillful data scientist have great value. The data in Pharmaceutical companies are no different. With the aid of a data scientist, these companies hold great opportunities to improve their operations. How exactly do they help? Keep reading to find out.
The Drug Development
Unlike many challenging problems resolved by engineers, drug development has no overall model serving as a basis for optimization. This multidisciplinary and complicated process is in great due for a significant improvement. Pharmaceutical companies nowadays are generating great amounts of data, driven mostly by the sequencing of human genomes. These companies are now realizing the importance of data scientists in developing algorithms that can uncover efficiencies by analyzing this data. Since the time of its inception, pharmaceutical companies are striving to meet the new clinical needs without affecting their financial health. The data science approach is expected to play a critical role in meeting this requirement.
Clinical Trial Planning
The phase III clinical trials have always been a headache for the pharmaceutical companies, especially in the light that the patent exclusivity of a drug starts roughly around the time of its first clinical trial. The practical complications with recruiting and randomizing a sufficient number of patients result in increased costs and delays. It also erodes the time over which the company can recoup the costs during the period of patent exclusivity. Data-driven approaches are now taking over this issue. They are now resorting to data science to build precision into the way they calculate the feasibility of successful clinical trials within the time and expense constraints.
Drug repurposing is an attempt to find an altogether different use for a drug. It can be attempted on both drugs that are on the market and the ones stopped developing. It is usually done by evaluating a hypothesis put together by a scientist in a laboratory. It eliminates the time and cost incorporated with developing a medicine. With the recent update brought by data science, this discovery can be made quicker by computation of complementary “drug-disease” pair on large public repositories of sequencing and gene expression data. It will ultimately result in cheaper medicines.
Wearables technology provides a method of unobtrusively capturing continuous physical measurements. They are aimed at replacing the expensive instruments that are traditionally used. With the aid of data science, pharmaceutical companies are aiming to solve the problem in medication adhering in clinical trials. So, it is clear that pharmaceutical companies are also in need of trained data scientists. You can start your journey to a successful data science career by taking the data science prodegree by Imarticus. It provides with all the necessary skills required for your career. It is one of the best data science course in Mumbai.