NEWS Pharmaceutical companies are those at the cutting edge of data mining, using the technology to accelerate time-to-market in drug development.
The ability to analyse large amounts of often unstructured data has long been held up as the key to effective customer relationship management (CRM) in retail, to name one example, but the latest findings from Frost and Sullivan put pharmaceutical companies out ahead.
It claims they are among those to make use of the predictive modelling markup language (PMML), which allows data-mining vendors to share models.
Because data-mining software doesn't come cheap, F&S unit Technical Insights notes sales are being made based on solutions to specific business processes and the comparison with using legions of human statisticians.
