“Digitalization across life sciences (pharmaceutical, biotechnology, medical device organizations) continues at an accelerated pace, bringing about a new imperative—to drive business improvement through digital innovation and make it stick,” Gartner notes in the latest Hype CycleTM report1. “Going forward, life science organization (LSO) CIOs and their executive peers will need to navigate a confluence of forces and evolve their commercial capabilities.”
But with the leap toward newfound technology adoption comes the challenge of scale. As CIOs continue to hone their long-term technology strategies, understanding the maturity level and efficiency of each product in their portfolio is paramount. “Because the path forward is uncertain, CIOs will need to develop a technology strategy that is adaptable, scalable and resilient to meet new business requirements on demand,” Gartner states.
With digital transformation being a top priority for LSOs, developing and enhancing data management and analytics capabilities is key. Gartner encourages LSOs to “upgrade [their] analytics architecture with commercial D&A platforms as the landscape of vendors, capabilities and business needs rapidly evolves.” The report also recommends companies assess their “blueprint against verticalized solutions specifically designed for life science commercial operations or rapidly evolving horizontal solutions that can be easily contextualized to meet [their] requirements.”
As CIOs continue to build advanced analytics, one thing is certain: The life sciences industry is heading toward a platform approach. “We expect digital life science platforms to be mainstream in the next five to 10 years, enabling them to nimbly adapt their business and operating models in response to external disruption and change in business strategy.”
Get complimentary access to the full “Hype Cycle for Life Science Commercial Operations, 2022” report to see which technologies have the maturity and long-term potential to propel LSOs’ success in the digital era.
1. Gartner, Hype Cycle for Life Science Commercial Operations, 2022, Animesh Gandhi, 18 July 2022
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