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In the pharmaceutical industry, where data drives innovation and ensures regulatory compliance, sound data governance practices are critical. This is because data is at the heart of the most recent innovative breakthroughs, like Artificial Intelligence (AI), Machine Learning (ML) and Data Science (DS). Without a high-quality, well understood dataset, the use cases, machine learnings and data science-variables cannot be expected to generate optimal outputs. Hence, organizations are making significant investments in data clean-up, management and governance across the lifecycle of each data asset. This in turn sets the stage for the democratization of data, with proper security and controls in place. Furthermore, for pharmaceutical companies, a proper governance framework ensures that data remains a reliable asset for drug development, patient safety, and regulatory adherence.
Implementing a data governance framework involves integrating tools and practices like master data governance to streamline data sources and ensure consistency. Leading organizations are now leveraging data governance tools to automate processes, reducing the manual effort and error rates, and enabling a faster time-to-value for data-driven initiatives. This is especially important in a heavily regulated industry, where non-compliance risks can be mitigated through proactive data tracking, classification, and management strategies. Thus, with the right approach to data governance, pharmaceutical companies who are early adopters of the concept, can turn well curated and managed data into a strategic advantage.
Joseph Humm
Commercial Director and Program Manager,
Consulting & Nets
In our latest blog, we spoke to our Commercial Director & Program Manager, Consulting & Nets, Joseph Humm. Read on for the full interview.
Data governance is a comprehensive approach to managing an organization's data assets. It involves establishing processes, policies, roles, metrics, and standards to ensure data is collected, processed, stored, and used securely and efficiently throughout its lifecycle.
How is data governance different from data management?
Data governance establishes policies, procedures, and standards for data usage with an objective of ensuring data is managed as a critical asset, maintaining its quality, security, and compliance. Whereas data management implements the policies and procedures set by data governance with an objective of managing the entire data lifecycle, from creation to deletion, ensuring data is available and usable.
What are the benefits of data governance in the pharmaceutical industry?
By establishing a robust set of policies, procedures and data usage standards, data governance ensures quality data can be scaled across an organization for use in data science (identifying and predicting the efficacy of new drugs), artificial intelligence (optimizing customer experience, supply chain planning, sales planning/forecasting), operational efficiencies (using data and trusted KPIs to properly manage all business operations).
What are some of the challenges in data governance?
In building a Data Governance discipline, organizations can present a number of challenges, which include:
Please provide some data governance best practices
Data Governance Best Practices are denoted below:
As denoted above, Navitas’ experience suggests that organizations are creating natural data partitions, aligning datasets based on capability and function. For example, on the commercial side of the business, organizations may want to align their sales, marketing and financial data. Conversely, in the drug development and patient management area of the business, Navitas sees organizations aligning the R&D, Regulatory Affairs, CMC, Pre-Clinical, Quality, Supply Chain, Clinical, PV and Medical Affairs datasets. The data governance elements, such as defining data policies, cataloging data, defining the lineage, classifying and cleansing the data is often managed by marketing leading solutions, such as Informatica, Collibra or Atlan. Furthermore, this capability will often underpin a Data Lake/Warehouse and will feed into a Business Intelligence capability or Data Science function. All of which moves the data from a cleansing state to a business value creation/insight development state.
What makes Navitas Life Sciences a strategic partner for Data Governance?
Navitas Life Sciences is the ideal partner to help organizations with the development of their Data Governance strategy and implementation for the following reasons:
Creating a Data governance construct can be a complex endeavor. As with most business problems, organizations can utilize the implementation of a software solution as the catalyst for building the governance foundation. However, in our experience, simply deploying an electronic solution without first organizing the business around a strategy could very well deliver mixed results. Hence, Navitas recommends the following steps:
The volume of data generated is only going to increase over time and the utilization of innovative technologies, fueled by data, will no longer be differentiators, but rather table stakes. Hence, the pharma industry’s recognition of a significant Data Governance need and investment opportunity, for various aspects of the business. By investing in the right data governance framework, pharmaceutical companies not only future-proof their operations but also position themselves as leaders in a data-driven world. The journey to effective data governance starts with a clear strategy and the right tools, setting the stage for safeguarding data integrity, driving operational excellence and ensuring regulatory compliance.
Brochure:
Maximize the value of your data assets
Our team of experts can design and implement a scalable and repeatable governance model that will maximize your data’s value and support data-driven decision-making.
Case Study:
Find out how we supported a leading multi-national pharmaceutical and biotechnology company headquartered in Europe to optimize their data governance framework to meet industry-leading standards.
The company sought to ensure that their data management capabilities would become a strategic asset in driving business growth and accelerating innovation.
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