Q

Should pharmaceutical companies invest in MDM services and software?

Find out if pharmaceutical companies should invest in MDM services and MDM software and how health science companies should manage their MDM programs.

What do you estimate that large and mid-tier pharmaceutical companies will spend on master data management (MDM) services and software from 2010 to 2012?


The money that pharma companies stand to save as a result of MDM will more than exceed their investments as long as they:

1. Deliberately plan their MDM programs. Successful MDM programs in pharma and health sciences mandate a requirements-driven, roadmap-enabled approach. This will also help with budgeting and resourcing -- ongoing challenges in many of these companies.

2. Apply rigor around their MDM investments. Pharma companies have a tendency to prefer vendors that are already in-house. We find that often translates into overinvestment.

This was first published in May 2010

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