LONDON--(BUSINESS WIRE)--Aug 17, 2018--Quantzig, a global analytics solutions provider, has announced the completion of their latest article on the benefits of real world evidence for pharma companies.

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Real World Evidence Driving Excellence in Pharma Companies (Photo: Business Wire)

As the healthcare industry is continuously developing, pharma companies have started looking for new ways to get the best treatments for patients. One way to reach this is with the help of real world evidence (RWE). The use of real world evidence in pharma companies refers to the analysis of the clinical data that is resulting from many databases of healthcare companies. Studying this data helps attain a better understanding of how they can relate to more traditional clinical endpoints and also classify the long-term benefits of a product.

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According to the analytics experts at , “One of the key high points of real world evidence is that it will not only tap increasing volumes of data but weave together different sources of data.”

Benefits of real world evidence for pharma companies

Outcomes based on larger data samples: Real world evidence uses medical data gathered from tens of thousands of patients in real time as opposed to the narrower and smaller range of patients who classically participate in traditional clinical trials. Other than EHRs and medical data, data sources can be as diverse as social media, patient forum, and doctors’ notes. This gives a massively larger and more precise data sample on which medical professionals can base their assumptions and determine the efficiency and ROI of a medication. to know more about the benefits of real world evidence for pharma companies. Accelerate time to market: The use of real world evidence in pharma companies can help drive potential product development with near actual feedback on market necessities. This will help life sciences organizations to promptly pinpoint the most promising avenues of research, both scientific and commercial potential. Depending on this approach also decreases situations of false start and the development of orphan drugs that have limited clinical application. to know more about real world evidence in pharma companies. Proactive response to adverse developments: The use of real world evidence in pharma companies helps in assembling real-time post-trial information about a drug which helps providers and researchers to quickly find the negative reactions, side-effects, and medication errors related with the drug. This helps in controlling the potential harm caused by the drug. The information collected can also be used to enhance recommendations for how to best use a particular medication. Visit , to view the comprehensive list of the benefits of real world evidence for pharma companies.

Quantzig is a pure-play analytics advisory firm concentrated on leveraging analytics for prudent decision making and offering solutions to clients across several industrial sectors.

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About Quantzig

Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.

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PUB: 08/17/2018 08:03 AM/DISC: 08/17/2018 08:03 AM