Every day the body of information on scientific discoveries and pharma advances from around the globe swells across many different sources, presenting a deluge of data for biopharma outfits to sift through to find potential licensing opportunities. Some Big Pharma and biotech companies have turned to analytics and data-mining technologies to scour disparate Big Data sources and deliver the exact information they seek.
Cambridge Semantics in Boston has won over some of the world's largest pharma groups with a semantic web technology, which enables business development groups to automatically pull together key data from a wide variety of different sources such as scientific publications, websites and subscription databases and internal troves of knowledge. And in nearby Cambridge, MA, Relay Technology Management has recently released a software-as-a-service product that uses data-mining tech and Tibco Software's Spotfire to provide information to pharma dealmakers, using Relay's algorithm for objectively evaluating biotech assets such as compounds.
Remember, Big Data tends to grow fast. And one of the keys to Cambridge Semantics and Relay's offerings is automatic retrieval of information from the multitude of data sources. Pfizer, Merck and AstraZeneca ($AZN) have grabbed ahold of the new tools to gain an edge in managing rapid flows of competitive data.