Big Data: 6 Real-Life Business Cases - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Software // Enterprise Applications
News
5/27/2015
04:06 PM
Lisa Morgan
Lisa Morgan
Slideshows
Connect Directly
Twitter
RSS
E-Mail

Big Data: 6 Real-Life Business Cases

Better data analysis enables companies to optimize everything in the value chain -- from sales to order delivery, to optimal store hours. Here are six examples of how major enterprises are using data to improve their business models.
2 of 7

Reduce Time To Market
Introducing new products or services involves many life cycle stages, some of which are easier to accelerate than others. For the past couple of decades, drug manufacturers have been using clinical trial simulations to speed learning, reduce costs, and limit unnecessary burdens on patients participating in the trials. Armed with the power of the cloud and big data, the clinical trial simulations can be done faster in ways that benefit the manufacturer and patients. 
Bristol-Myers Squibb reduced the time it takes to run clinical trial simulations by 98% by extending its internally hosted grid environment into the AWS Cloud. The company has also been able to optimize dosing levels, make drugs safer, and require fewer blood samples from clinical trial patients.
Because clinical trial data is highly sensitive, Bristol-Myers Squibb built a dedicated, encrypted VPN tunnel to the Amazon gateway and configured a virtual private cloud so the environments would be isolated from public customers.
Before moving into the cloud, scientists were using a shared internal environment, so it took 60 hours to run hundreds of jobs. Now that each scientist has a dedicated environment, 2,000 jobs can be processed in 1.2 hours without causing an impact to other members of the team.
As a result of the move, Bristol-Myers Squibb was able to reduce the number of clinical trial subjects in a pediatric study from 60 to 40, while shortening the length of the study by more than a year.
(Image: PublicDomainPictures via Pixabay

Reduce Time To Market

Introducing new products or services involves many life cycle stages, some of which are easier to accelerate than others. For the past couple of decades, drug manufacturers have been using clinical trial simulations to speed learning, reduce costs, and limit unnecessary burdens on patients participating in the trials. Armed with the power of the cloud and big data, the clinical trial simulations can be done faster in ways that benefit the manufacturer and patients.

Bristol-Myers Squibb reduced the time it takes to run clinical trial simulations by 98% by extending its internally hosted grid environment into the AWS Cloud. The company has also been able to optimize dosing levels, make drugs safer, and require fewer blood samples from clinical trial patients.

Because clinical trial data is highly sensitive, Bristol-Myers Squibb built a dedicated, encrypted VPN tunnel to the Amazon gateway and configured a virtual private cloud so the environments would be isolated from public customers.

Before moving into the cloud, scientists were using a shared internal environment, so it took 60 hours to run hundreds of jobs. Now that each scientist has a dedicated environment, 2,000 jobs can be processed in 1.2 hours without causing an impact to other members of the team.

As a result of the move, Bristol-Myers Squibb was able to reduce the number of clinical trial subjects in a pediatric study from 60 to 40, while shortening the length of the study by more than a year.

(Image: PublicDomainPictures via Pixabay

2 of 7
Comment  | 
Print  | 
Comments
Newest First  |  Oldest First  |  Threaded View
shakeeb
50%
50%
shakeeb,
User Rank: Ninja
5/31/2015 | 9:36:09 PM
Re: Optimize the Workforce
In my opinion, irrespective of the organization type many of them are now in to data analysis to improve their business performance.
shakeeb
50%
50%
shakeeb,
User Rank: Ninja
5/31/2015 | 9:32:16 PM
Process improvements
This is an important aspect in many organizations. Some organizations consist with a separate department who deals with process improvement for the whole organization.
shamika
50%
50%
shamika,
User Rank: Ninja
5/30/2015 | 1:41:22 AM
Optimize the Workforce
I agree with this.  This is important when it comes to retaining employees. This will obviously help in understanding their issues and needs.
Slideshows
7 Technologies You Need to Know for Artificial Intelligence
Jessica Davis, Senior Editor, Enterprise Apps,  7/1/2019
Commentary
A Practical Guide to DevOps: It's Not that Scary
Cathleen Gagne, Managing Editor, InformationWeek,  7/5/2019
Commentary
Diversity in IT: The Business and Moral Reasons
James M. Connolly, Editorial Director, InformationWeek and Network Computing,  6/20/2019
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
Data Science and AI in the Fast Lane
This IT Trend Report will help you gain insight into how quickly and dramatically data science is influencing how enterprises are managed and where they will derive business success. Read the report today!
Slideshows
Flash Poll