Big data is no miracle cure for those unprepared for the huge organisational challenge, but it can be a powerful tool in the right hands
Learning how to fail early
Bringing an innovative drug to market can take 10-15 years and cost up to $5 billion. Indeed, the stakes are high and success is not guaranteed. Mitigating R&D risks by applying the ‘fail early and fail cheap’ approach is crucial. Siphoning and sorting published research results and data from varied fields, such as chemistry and biology, is where the challenge lies. By working with quality, validated data, researchers have greater confidence in making informed decisions to continue to invest time, money and resources in a program.