Bhaskar Sambasivan offers a prescription for thriving in the new digital economy.

Sourced through Scoop.it from: www.pharmexec.com

Digitize science, commercialize the science. All the world runs online; archaic is where it doesn’t. Consumers buy, companies advertise, students study, candidates debate, peers meet, shows play, views change and the world advances, online. Why should one not do similar with science?

The internet is thus the road for life science: the web can reboot it, upping it to heights unseen, and in the following ways.

Having the Industry Grow and Avoiding Potential Loss: Executives, in the article, in the survey said that the likes of The Internet of Things, sensors and more will produce this year over $877 billion.

The laggard penalty is “the difference in both cost and revenue performance due to technology acceleration”. This occurs when progression isn’t quick, and that penalty in 2017 could become $650 million. Digitization can help you avoid this penalty. 

Setting New Data Mastery Heights and Introducing Innovation: Digitization comes with electronic data, and the need to perfect using it. The methods of its manipulation then constructed will aid, greatly, the life sciences industry, from R&D through patient care, boosting the efficiency of many sections of and much work in the field.

Innovation will come about due to the increased efficiency, where electronics will do rote tasks, and help scientists complete complex ones, allowing people the time to innovate. Also, the bringing on of strategic and analytic talent will make efficient more of the field, and open more space for fresh ideas.

The sooner the science digitizes, the quicker the benefits come. None should have to miss these goods, so digitize and bring yourself nearer to success.