In our previous post we described the technique for assigning categories to data, based on input from content experts within a “training database”. This technique is effective for summarizing large, text-heavy data into specific categories for summaries and improved visualization. While this approach is useful for those purposes, it will not allow us to uncover new insights or trends because we are imposing a preconceived and finite set of options, or in other words, what we already know. The following describes our approach to using clustering techniques for exploring text-heavy data. We applied this technique to two different datasets: scientific journals [...]
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So far ozmosi_admin has created 25 blog entries.
One of the most common and powerful approaches in NLP provides the content experts an opportunity to label each data segment for a portion of the dataset and then analyze these labels to apply to the rest of the dataset. Some key questions need to be answered when applying this approach in different environments. For example, how many “expert” labels do we need to create before the classification works effectively? How can we evaluate this in advance? Are we limiting ourselves to only extracting from the data what we already believe to be true? We will discuss that last one in [...]
The problem with Big Data is that it is so Big! This issue is especially true in the world of healthcare and drug development. It is difficult to see across all the good clinical/scientific work going on around the world and understand exactly where we are headed and how we will get there for any given disease area. It’s about time we move from manually tackling the pharmaceutical data to using the power of natural language processing (NLP) and machine learning. NLP is at its early stage in the pharma industry and brings a strong potential to find trends and insights [...]
Ozmosi has been on a purpose-driven hiatus peppered with innovation, development and growth. In less than one year, we have compiled the world’s largest free comprehensive global clinical trial database, as well as an intuitive tool that enables effective and efficient analytic management. The free data base will be available to the public in the next couple of weeks and we are proud to provide it, because we believe that free data should be free. Our rapid expansion in capabilities has prompted the hire of a Natural Language Processing Specialist and a Client Service Director. This labor-intensive collaboration has brought the [...]
Move over big pharma. When it comes to improving the lives of patients with chronic diseases like type-2 diabetes and heart failure, the pharmaceutical industry is playing an ever smaller role. New blockbuster drugs are the lifeblood for pharmaceutical companies. Traditionally, they spend big advertising dollars to create consumer awareness with the goal of influencing drug choice. But when it comes to innovation for major chronic conditions like type 2 diabetes and heart disease, pharma companies need a lifeline. Innovation pipeline is weak There’s nothing really new coming down the pharma pipeline for diabetes or heart disease - I mean [...]
M&A mania is here. Unprecedented deal values for mergers and acquisitions dominated in 2014. Worldwide M&A was up 47% since 2013 with 95 deals valued greater than $5 billion, as reported by Reuters. Most deals were transacted in the energy, media/entertainment and healthcare sectors. If history is a guide, the cyclical nature of mergers and acquisitions will continue, and healthcare is no exception. Healthcare deals reach a new high. Is it supply and demand? Deal values more than tripled last year in the healthcare sector, with the average deal at $1.4 billion. Deals in the healthcare industry are getting pricier, driven [...]
LUNG CANCER SCREENING UPDATE: As of February 5, 2015, effective immediately, Medicare will cover lung cancer screening by low-dose CT. See my post below for more details. ORIGINAL POST – Dec. 1, 2014 The Centers for Medicare & Medicaid Services (CMS) recently issued a proposal for Medicare to cover the cost of lung cancer screening for high-risk patients. The benefit is clear…early screening saves lives. As many as 20% of future deaths could be prevented with the new Medicare benefit CMS would cover low-dose CT (LDCT) screening for patients ages 55-74 who have smoked at least one pack a day for [...]
When a pharmaceutical company in China realized it needed outside help to identify and close the gaps in its R&D portfolio, its leaders turned to Ozmosi for a complete, bottom-up portfolio management solution. The company was missing key data for many of their projects. What’s more, data collection and maintenance practices were inconsistent across therapeutic areas. The company needed help to construct a portfolio process that would ensure managers had access to the information they needed to align resources with strategy, identify potential gaps, and decide which projects to fund. For the initial phase of the project, Ozmosi created a prioritization [...]
The oncology team of a major multinational pharmaceutical company asked Ozmosi to provide additional forecasting support for a newly acquired product. They needed to update and validate the current forecast models to identify the most effective development strategies for the compound across all indications. The team was concerned with how to get their product to the most critical patients and wanted to explore strategies to maximize market share and minimize losses to cannibalization. Ozmosi provided global forecasts for multiple indications across multiple products, assessing the value impact of multiple development scenarios. The scenarios we developed considered the effects of differences in [...]
When in-house experts’ forecasts for the market potential of a treatment for an orphan disease conflicted, the management team at a large, multinational pharmaceutical company turned to Ozmosi to resolve the differences. Addressing the central questions required a full literature review, including analysis of more than 30 individual studies released between the 1990s and 2013, as well as physician surveys, internal studies, advisory board results, and other sources. We also conducted in-depth interviews with the company’s two in-house epidemiology experts working on the project. Projections were complicated by the fact that the disease, which affects fewer than 10 people per million, [...]