Innovation Sprint Blog

Digital Transformation and Exploitation of Big Data for the Pharma Industry

“What is exactly a data-driven pharmaceutical company and what does it take to be become one?”

This has been a crucial question for the past few years and will remain crucial, as long as clinical and research data is not actionable enough to increase efficiency in the Pharma industry. Most pharmaceutical companies are in the process of validating solutions and services, while on the same time there is a growing demand for monetization of Big Data outcomes of clinical and research studies.

In Innovation Sprint, we believe that becoming a data-driven company will assist your offering for better healthcare services, enhanced therapies through innovative technologies, transformation of digital disruption to opportunities and increased revenues. This is WHY a pharmaceutical company should go through a digital transformation. If WHY defines the vision, the next challenge is to define HOW this can be achieved. Our strong recommendation for achieving this challenge is to start by implementing your own private data cloud and integrate legacy data, data sets from 3rd party sources and clinical data.

In ActionableHealth360, a service toolkit for Big Data health analytics of Innovation Sprint, we implement a private data cloud in the following steps: defining the strategy; identifying  data sources; analyzing & defining processes; managing data; deploying a data warehouse and performing continuous Big Data health analytics. The data warehouse will obviously support advanced reporting and business insights, as well as making available data sets needed to offer SaaS solutions in the form of Web or Mobile apps. In this way, ActionableHealth360 is realizing a digital transformation, while addressing the challenges of National Health Systems, improving the effectiveness and quality of our healthcare, reducing costs by optimizing processes and providing actionable Big Data analytics for efficient decisions making.

 

“Now that I am a data-driven pharmaceutical company, how can I have additional revenues from my data?”

This is now the Holy Grail for all companies that went through the process of digital transformation and are owners of Big Data. However, before describing the Holy Grail, let us focus on the term “Big Data”. Innovation Sprint describes Big Data in the Healthcare sector based on 4+1 Vs, namely Volume, Variety, Velocity, Veracity and Value. For the Volume, we should be dealing with data of a petabyte level or more. The Variety should involve health related measurements, images, EHRs, etc., while Velocity should involve at least 1,000 new users per day. For Veracity the focus in on the quality and integrity of datasets, while the Value includes all actionable outcomes described above.

 

Owners of such Big Data have the chance to validate the concept of ActionableHealth360 Marketplace. This is the cloud version of ActionableHealth360 suite that allows pharmaceutical companies to connect their private data cloud through a flexible API and upload anonymous data in a safe environment that complies with GDPR directive (data providers). On the same time, consultants and agencies are able to develop with easy tools dynamic reports that exploit rich datasets and make them available for subscription (developers). The other stakeholders of the marketplace are the data consumers (subscribers). This category includes Healthcare providers, Policy makers, Insurance companies, NHS, etc., who pay a monthly subscription for basic information and additional amounts to use the report generators. Obviously, the income from subscribers is split among the data providers and developers based on a meritocracy model. The vision of ActionableHealth360 marketplace is to contribute to a data-rich healthcare future, enabling medical care to be proactive rather than reactive and reward data providers for their contribution.

 

Meet the architects of the concept: Sofoklis Kyriazakos (CEO), Alfredo Cesario (CSO-BIO), Hermie Hermens (CSO-eHealth) and Paolo Morelli (CSO-Head of Clinical Research).

 

If you are owner of open-data related to the healthcare sector and you want to be part of the ActionableHealth360 marketplace, or you wish to obtain more information, you can contact ah360@innovationsprint.eu

Books for Innovators!

booksAfter finishing with my (long) studies, there was a long period that I hadn’t read any book. I limited my reading material to business- and research-related documents, newspapers and magazines.

Then suddenly, like turning a switch, I decided to start reading books to help me address the business challenges and a stressful lifestyle. I realized when flying a lot, reading books is a perfect way to upgrade a boring flight into a personal development session.

After searching for some time and with the help of Amazon recommendations I have shortlisted bellow  my favorite books that I strongly recommend to all and especially those in the tech business, focusing on innovation with an entrepreneurial drive.

 

 

 

  1. Leadership
    1. John C. Maxwell, The 5 Levels of Leadership: Proven Steps to Maximize Your Potential
    2. John C. Maxwell, The 21 Irrefutable Laws of Leadership: Follow Them and People Will Follow You (10th Anniversary Edition)
    3. Huntsman, Jon, Winners Never Cheat: Even in Difficult Times: Even in Hard Times

 

  1. Personal development
    1. Covey, Stephen R., The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change
    2. Covey, Stephen R., First Things First
    3. Ferrazzi, Keith, Never Eat Alone, Expanded and Updated: And Other Secrets to Success, One Relationship at a Time
    4. Yvon Chouinard, Let My People Go Surfing: The Education of a Reluctant Businessman

 

  1. Startups & Innovation management
    1. Ries, Eric, The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses
    2. Thiel, Peter, Zero to One: Notes on Startups, or How to Build the Future
    3. Chan Kim and Renee Mauborgne, Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant
    4. Christensen, Clayton, The Innovator’s Dilemma: The Revolutionary Book That Will Change the Way You Do Business
    5. Rubin, Kenneth S., Essential Scrum: A Practical Guide to the Most Popular Agile Process 

 

  1. Marketing
    1. Robert B. Cialdini, Influence: The Psychology of Persuasion, Revised Edition
    2. Godin, Seth, All Marketers Are Liars: The Underground Classic That Explains How Marketing Really Works–and Why Authen ticity Is the Best Marketing of All
    3. Godin, Seth, Tribes: We Need You to Lead Us
    4. Godin, Seth, Purple Cow, New Edition: Transform Your Business by Being Remarkable–Includes new bonus chapter

 

  1. Biographies & Enterprises

    1. Vance, Ashlee, Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future
    2. Isaacson, Walter, Steve Jobs: The Exclusive Biography
    3. Tony Hsieh, Delivering Happiness: A Path to Profits, Passion, and Purpose
    4. Schmidt, Eric, How Google Works
    5. Stone, Brad, The Everything Store: Jeff Bezos and the Age of Amazon
    6. Branson, Sir Richard, The Virgin Way: How to Listen, Learn, Laugh and Lead

 

Defining the ICT Strategy for Beyond 2050

978-3-319-42141-4The sector of telecommunications is one of the flagships of engineering from the time that has been invented, as it was enabling communication that is a major need of humans. In the decades of ‘90s and early 2000 the rapid development of telecommunications with the parallel evolution of Internet, have significantly influenced people, communities and growth worldwide. During this time, Internet evolution created lots of opportunities, but many of those were not sound and that led us to the dot-com bubble. At the end of the first decade of the 21st century, the Western world experienced a deep recession and so did the sector of telecommunications. On the same time Internet started to recover from the dot-com-bubble period and became the perfect medium for startups . In that period, the evolution of Internet has ‘commoditized’ telecommunications that served mainly as a medium and not as an innovation vehicle. Nowadays there is a stabilization of dynamics in the ICT world and telecommunications sector is seeking its role and position in contribution to disruptive concepts of the New Digital Era . This positioning and role will be the early definition of its strategy Beyond 2050.

source: www.springer.com
Chapter ‘Defining the ICT Strategy for Beyond 2050’; Sofoklis Kyriazakos; Wireless World in 2050 and Beyond: A Window into the Future! (Part of the series Springer Series in Wireless Technology pp 137-147)