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Should pharmaceutical companies invest in MDM services and software?

Should pharmaceutical companies invest in MDM services and software?

Jill Dyché, Partner and co-founder, Baseline Consulting

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?

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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.

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This was first published in May 2010

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