Cornell Tech in New York City hosted an event last week and invited Wendy Mayer, the VP of Worldwide Innovation at Pfizer, to talk about how innovation and creative ideas could be transformed into real values for pharmaceutical business.
The important step stone to innovative individual is the endorsement from the executive boards.Generating revenue and sales is the best result that innovation adding to every business. At Pfizer, all the ideas would first come from the internal team then from outside of the organization.Because the internal team always knows what their main business challenges are, what the next break through should be, and what are the desire among markets.
Ms. Mayer brought a very trendy concept which now is the most popular way for research conducting. Big Data for new drug trials.
The average testing period for developing a new drug at Pfizer is 10 to 20 years. Sometime, drug developing teams have to wait for a long time to identify a right patient. if big data comes in, drug trails are no longer need to rely on real patients or real cases. At some point in the future, having Data to tracks and calculates the correlations maybe the vision of all. She didn’t specific how big data can be used for such delicate business since drug trails requires the pharmaceutical team to presents the real improvements of the cases for official regulators.
Can big data replace the real human being’s for drug trials? I think it’s interesting to hear the ideas. However, for me, big data ideas in testing drug made me uncomfortable. Technology helps us to live an lives.
But do people feel secure from the computer generating system in our life?
Are we comfortable with them?
I recently read an article on the Wall Street journal. Big data is almighty, except telling the causation. All you see from data is only correlations.
It’s interesting to hear that the executives board at Pfizer would make important decisions today, but the result can be known 10 years later from now.
Maybe good things always take time to achieve.