Oftentimes it
has been stated that there are only two things that remains in and out with the
system especially in healthcare domain that is data and patients. With the brief
and sudden rise in the digitized resources in life sciences, healthcare and
pharmaceutical domains, scientists and researchers all over the world find
themselves at the focal point of both challenge as well as opportunity
depicting to create the usable and beneficial information systems along with efficiently
managing the flux and downpour of data. Recently while attending a SAS life
sciences and health conference, the managing director John D. Halamka stated and
shared his views about the role of IT in healthcare and life sciences verticals
and how the databases are growing more and more beyond one such capacity to use
them in a meaningful and relevant manner. Considering the fact that suppose
there is no one else who can tackle the challenge, assume and conclude for a
moment that we can and yes we will handle the data. It becomes out need of the
hour and responsibility to take what is important and significant from that
data and make it more purposeful and useful. That thing is called and well
known as the ‘thinking data’ that is more accessible, coherent, useful,
beneficial and for sure accurate and predictive.
At the prominence
and cutting edge of that challenge, the critical issue lies in the data
integration. Though there are many other strategies and approaches to consider and
handle in a technical manner including data marts, data warehouses, federation
etc. and the major focus shifted on contextualization and consolidation of the
information.
A Brief about Master Data Management and
Opportunities in it
Before we drill
down more into the acumen of master data management as applied to life
sciences, healthcare and pharmaceutical industry, let’s take a moment to think
and talk about what exactly MDM is. Think of master data management as a way to
manage reference data to get a clear and better idea and understand the context
of our transactions. According to Ralph Kimball’s terminology, master data
management solutions assist to consolidate and blend the facts with dimensions.
Helping firms and enterprises by providing processes and procedures to collect,
cleanse, summarize and augment the data efficiency and with sheer consistency, MDM
provides apt governance and command in the ongoing maintenance and usage of
data. Considering and thinking from the data perspective, the world of life
sciences, health and pharmaceutical domain is frightening and alarming. With
MDM pharma focused on research, drug discovery, manufacturing, operations,
sales and marketing and more, there are many untold and indescribable examples of
the same where firms have successfully and promisingly used data along with the
technology to support decision making and preciseness. In healthcare industry, there
is more complex situation in which payers, researchers, providers and patients having
their advocates dealing in both public sector as well as government arena
highlights the attributes and examples from health outcomes as well as clinical
research of a wide range of users available for primary use of patent data.
MDM solutions
is all about drafting a consistent and rational version of the truth, data and
information that can be shared across the firms and organizations and used for both
strategic usages as well as tactical or operational purposes. In healthcare, linking
the data purposefully to patient care will undoubtedly help to perform analysis
and determination and improvise patient safety and outcomes. In all, master
data management solutions in pharmaceutical domain could be used for providing companies
and organizations worldwide operational support and performance for conducting clinical
trials more efficiently and effectively. And once you got a well defined plan, you
can move further with a unifying plan for your data and could draft a roadmap for
growth and success that will involve operational processes, data stewards and
governance for effective implementation of master data management program.
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