Immunomedics’ Top Five Tips in Starting your Data Management Journey
IDC Health Insights predicts that by 2022, 30% of life sciences companies will achieve data excellence, which is defined as “the concept of effectively using the right data at the right time.” How can organizations that are early in their data management journey work towards this vision?
We spoke to Scott Brannigan, Head of IT at Immunomedics, about what he learned from leading grassroots efforts to define their data management strategy before the launch of their first product. Here are some of his recommendations for early-stage life sciences companies looking to establish a strong data foundation for commercial operations and insights.
First: build a core set of capabilities to drive other decisions. It is critical to determine the overall strategy from a platform and information capability perspective. Focus on getting the foundation right, knowing that it will grow and advance over time. Without a well-defined strategy, companies will inevitably face data management challenges in the long run.
Second: prioritize change management. Don’t underestimate the change management necessary as new capabilities are introduced. Collaborate and partner with the business on mutually agreed goals, such as cultivating a data-driven culture.
Third: take advantage of a pre-integrated solution. Integrating multiple solutions from different vendors into a homegrown platform is a time-consuming, resource-intensive, and expensive endeavor. Integration points are often weak points in a company’s data management strategy.
Fourth: expect change and maintain flexibility. Companies must be flexible in their approach as outcomes will undoubtedly be different than expected, either from a business perspective as they enter a market or from a technology perspective as they implement their data management solution.
Fifth: choose the right partner that is invested in your business needs.
“The right partner really wants to listen, understand your business, and help you achieve your goals. My strongest strategic partner is Veeva,” said Brannigan.
Watch this video to learn more about Scott’s recommendations and explore the Veeva Nitro product page to see the benefits of a pre-integrated commercial data management solution for life sciences companies embarking on a data management journey.