Market Overview: The Growing Role for Business Intelligence in Life Science Industry Best Practices : Market Research Report

Market Overview: The Growing Role for Business Intelligence in Life Science Industry Best Practices

Published by: IDC

Published: Sep. 14, 2009 - 13 Pages

Table of Contents
Health Industry Insights Opinion

In This Report
Methodology
Situation Overview
A Life Science Industry Definition of BI
The State of BI in the Life Science Industry
The Market for BI in the Life Science Industry
The Diverse Landscape
The Different Views of Strategic BI Solutions
Goals of Life Science BI Initiatives
Recognizing Needs and Wants
The ROI Question
Life Science Industry-Specific Needs and Wants
Key Recurring BI Themes in the Life Science Industry
Gather Good Data
Translate Data into Actionable Information
Use Information to Effect Organizational Change
Achieving Value
Future Outlook
Key Insights
Essential Guidance
Actions to Consider
Closing Thoughts
Learn More
Related Research
Synopsis
Table: U.S. BI Software and Services Spending in the Life Science Industry,2007–2012
Figure: Maturity of BI Users in the Life Science Industry
Figure: Top Business Reasons for Investing in BI
Figure: Anticipated Benefits from BI Initiatives
Figure: Future BI Plans

Abstract

This Health Industry Insights report examines the opportunity for business intelligence (BI) to transform business processes within the life science industry. This report highlights insights from industry opinion leaders regarding the top business reasons for investing in BI, anticipated benefits they hope to achieve from specific BI efforts, and long-term aspirations for what BI could deliver to their organizations.

"During these difficult times for the life science industry, it is more important than ever for organizations to base their strategic planning on the best information available. Although potentially transformational, effective exploitation of BI will not be easy and will require significant organizational buy-in from all levels of the organization in order to achieve success," said Alan Louie, Ph.D., research director for IDC Health Insights.

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