Not all data is relevant

The pharma industry now has an incredible amount of data at its fingertips thanks to electronic medical records, social media, wearables, and more. But just having access to this data isn’t enough—marketers need a way to turn all of this unstructured information into actionable insights. Not only that, but they need to do it as quickly as possible so they can act on these insights and in way that doesn’t require too much help from IT.

Not all data is relevant—in fact, most of it isn’t. Recognizing the fit between the data sources, the analytic tools, and the problem you want to solve is paramount.

However, it is important to remember the basic tenet of data analysis that necessitates formulating questions as the first step before data sources are chosen and analysis begins. Only with clear objectives and strategy can one determine what to measure—and what to ignore….

Source: Think Tank by PM360 Staff on September 15th, 2016.