Is data holding you back?

16th Jul 2018

How data trends in the financial services sector could transform pharma

A decade ago, the financial services sector was grappling with some key challenges – an exponential rise in the volume of data it was generating and how to store and access this data securely and quickly. The solution that it decided upon was the construction of large datacentre facilities, either on site, or close to its major operating hubs. Fast forward to the present, and this datacentre model is rapidly becoming obsolete in the financial services sector, as smaller edge datacentres, cloud and co-location facilities replace the initial big box solution.

Why I’m drawing parallels here is that the pharma industry is beginning to take these learnings from the finance sector and directly employ them to its own burgeoning data requirements. Arguably, one of the key factors that could hold back the sector isn’t related to skills, or funding, but is an unplanned approach to an organisation’s data requirements.

Pharma is an entrepreneurial and richly diverse industry, from the large multi-national giants through to the start-up incubators, spun out of our top universities. As healthcare evolves from a chemistry bias to biology-based personalised medicines, the data requirements of organisations have never been more demanding. Given the significance of data – both storage and accessibility – how often is this requirement top of the critical infrastructure when it comes to master-planning our physical space requirements?

Our experience is that in many organisations, data is an afterthought – an issue for the IT team and something that isn’t prioritised. Data is well down the list, behind the physical research facilities, collaboration space, offices and even leisure areas. But forget data requirements at your peril. Adding additional racking into an already cramped server room is not a sustainable solution and can have serious implications on operational efficiency.

The industry is beginning to recognise that data is becoming a key challenge both in volume and complexity. What’s interesting is that some organisations have evolved their data services provision in much the same way as the financial sector, with a reliance on high density, on-site datacentres for intensive computing applications, where latency can be an important factor. However, storage and non-intensive applications are often managed using scalable, outsourced solutions moving the cost of data from a capex to an opex model.

The importance of data is also becoming clear to owners and developers of science parks. Some are now considering building their own co-location datacentre facilities on site, or partnering with existing co-lo companies, as they recognise that data infrastructure is a key selling point for prospective tenants. Providing access to scalable secure solutions that expand as an organisation grows is a smart way for end-user clients to concentrate on their core competencies and not worry about a looming data crisis.

Ultimately, the conversation needs to change when contractors sit down to discuss physical infrastructure projects. If data is not viewed as a priority, then perhaps it’s time to reconsider your project.

Lee Hutchinson, managing director of ISG’s UK Engineering Services business

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