Drug developers are one target of an alliance that joins crowdsourcing and risk management. Crowdcast has announced that its SaaS collective-intelligence solution now supports the SAP BusinessObjects governance, risk, and compliance (GRC) solutions.
In the case of drug development, says Crowdcast, an SAP-supported drugmaker may be facing a delay in a drug launch. Quick decisions are necessary, and they may have major financial consequences.
The Crowdsource/SAP combination lets managers check in with an internal community of stakeholders. Community members get virtual money and place bets about the drug's launch. The chief risk officer gets access to the bets placed. Bet data may show, for example, that 70 percent of the respondents believe the product will be two weeks late. With that data point, management can calculate the effects of a two-week launch delay on lost revenue and market penetration and decide what to do about the impending delay.
The solution-provider alliance targets a key decision point in drug development. As we've reported, crowdsourcing also is being used to assess whether a drug candidate will succeed or fail, and to develop cooperative visualizations of chemical structures and biological systems.
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