What Every Life Sciences Company Needs to Know About Augmented Analytics Tools

The life sciences industry sees only a fraction of data analytics’ potential to improve business outcomes. According to a 2022 McKinsey & Company study, data analytics drive only 5-15 percent of bottom-line improvement, representing a global impact of $6 billion to $9 billion annually. However, the full application of digital solutions and analytics would have an estimated impact of $130 billion to $190 billion. These tools put data insights within reach of more business users so they make data-driven decisions day-to-day and improve business outcomes.

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What Are Augmented Analytics Tools?

According to Gartner, augmented analytics is the use of enabling technologies, such as machine learning and artificial intelligence (AI), to streamline data preparation, generate insights, and give business users analytics autonomy, regardless of their IT or data science expertise.
An augmented analytics platform can analyze data continuously, monitoring and analyzing data. These tools can alert users automatically if they discover anomalies; there is no need to rely on an analyst to find patterns and changes. They also automatically determine the best visualization for analytics insights, saving even more time for the data team and users waiting for information.
The best augmented analytics for life sciences also makes it simple for business users to query the platform, save and share insights, and customize their dashboards for easy access to the information they use routinely.

Benefits of Augmented Analytics Tools

Reduced Bias
Augmented analytics tools can run analyses using a broader range of data sources and larger volumes of data. It eliminates the need for analysts to make assumptions about which data to use to find answers and reduces the chances that important information is excluded from analysis.
Decrease in Time to Insights
Traditional data analytics processes can take weeks or longer. Life sciences team members make requests, and the data team builds a dashboard to provide the information, runs the analysis, and prepares the visualization. Augmented analytics replaces the dashboard as a unit of work with a question. Natural language processing (NLP) enables users to query the platform conversationally and receive an easy-to-understand answer in seconds.
Predictive Insights and Root Cause Analysis
Augmented analytics is much more than an advanced search engine. This technology uses deep learning to provide predictive analytics for forecasting and projections. It can also provide information to determine the causes of changes in sales, plan approvals, or declines in adherence.
Personalized Insights
Tools for augmented analytics learn users’ behaviors and preferences over time. Therefore, the platform automatically provides insights based on each user’s role and geographic region, market, brand, or other relevant factors.

WhizAI: The Only Augmented Analytics Tool Developed Specifically for Life Sciences

Although augmented analytics tools offer organizations a range of benefits, life sciences and healthcare organizations need platforms designed for their industry to see maximum ROI. WhizAI is tailored to these organizations’ unique needs.

Domain-Specificity

WhizAI’s models are pre-trained with life sciences and healthcare data, which allows them to deploy more quickly, typically in a few weeks versus months it takes for other platforms. Additionally, WhizAI enables users to ask questions in natural language, like speaking to a colleague. In response, the platform provides accurate, contextual insights, immediately encouraging high user adoption.

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Scalability

WhizAI’s microservices architecture enables it to scale with increasing life sciences data volumes and deploy new services without interrupting performance. Life sciences and healthcare organizations are never limited in the number of data sources or the data volumes they can use in analysis.

No-Code Environment

WhizAI is designed to decrease the dependence on an organization’s IT and data teams. It not only allows business users to ask questions and receive the insights they need without intervention. But it also allows users to configure their dashboards, use Pinboards to save insights and share insights with colleagues in a no-code environment.

Anytime, Anywhere Access

WhizAI understands that life sciences and healthcare team members are often on the move and need insights for data-driven decision-making wherever they’re working. WhizAI allows users to access the platform from within their commonly used applications, such as Veeva, Salesforce, and Microsoft Teams, and from a PC, laptop, tablet, or mobile device.

Enterprise-Ready

Life sciences and healthcare enterprises receive an enterprise-ready platform with strong security and access control and data governance capabilities with administrative control over data to the column, row, or field. The platform also offers global enterprises multilanguage support so employees can interact with the augmented analytics tool in their preferred languages.

The Benefits of WhizAI

WhizAI is a proven solution that helps life sciences and healthcare organizations worldwide achieve business outcomes.

High user adoption. Life sciences and healthcare organizations can increase analytics adoption to as much as 100%.
Decreased dependence on IT. Business users can customize their dashboards and access data analytics insights independently, reducing reliance on IT by as much as 60%.
Lower TCO. This easy-to-use platform also requires less maintenance than traditional dashboard solutions, decreasing the total cost of ownership of data analytics by as much as 50%.

To learn more about augmented analytics tools that provide real value to life sciences and healthcare organizations, contact WhizAI.

Frequently Asked Questions

Which life sciences and healthcare teams can use WhizAI?

WhizAI can meet the data analytics needs of any team, from field sales and marketing to patient access and business leadership. WhizAI can complement any data analytics strategy as a standalone solution or complement traditional business intelligence (BI) dashboards.

How much time does it take to deploy WhizAI?

WhizAI’s team works with the life sciences or healthcare organizations’ resources to access data sources and understand the specific needs of the use case. After about six hours over two weeks, WhizAI works with the internal team to test the solution, typically requiring about six hours, and then user training takes a few 30-minute sessions.

If a life sciences company nIs it possible to protect sensitive data in WhizAI?eeds analytics for its commercial team, R&D, and leadership, do they need separate tools?

WhizAI never shares data with its clients. Within an organization, the platform allows administrators to protect sensitive data and restrict its use in analysis, for example, PHI. WhizAI gives organizations granular control.

How long does it take to get an answer when asking WhizAI a question?

WhizAI can analyze billions of data points in a sub-second, even for complex queries. If users need to drill down deeper for specific insights, they can receive the information they need in just a few minutes.

How does WhizAI verify that people attempting to access the platform are authorized users?

WhizAI requires multifactor authentication (MFA) to ensure only authorized users access the platform and the company’s data.