Top drivers are data quality, regulatory compliance and business process efficiency
LOS ANGELES – MARCH 6th, 2014 – Half of BioPharma companies now have a Metadata Management project under way, according to a survey conducted by SOA Software. This finding shows that metadata management is emerging as a compelling solution for many BioPharma businesses. The top drivers are data quality, regulatory compliance and business process efficiency improvements. BioPharma companies are seeking metadata management technology solutions more than ever. However, only 10% of companies actually have a technology solution in place.
“Companies are realizing that by automating the implementation of standards through effective metadata management they can become more agile while reducing costs,” said Brent Carlson, Senior VP for Technology at SOA Software. “With 50% of companies moving towards a managed metadata environment it’s clear that this has become an industry priority. Yet, the relatively low number of actual technology implementations shows that it can be challenging to find the right mix of process, people and technology for the data lifecycle.”
SOA Software surveyed conference attendees from 40 organizations at the Clinical Data Interchange Standards Consortium (CDISC) Annual International Interchange in November, 2013. Although the majority represented BioPharma organizations, there was also participation from contract research organizations (CROs), consultancy firms and research institutes.
The survey further revealed that 23% of all respondents (36% of those with existing metadata management projects) reported that they are not satisfied with their current or planned solution(s), while another 7% think their solution suffices for now, but have concerns about it meeting their long-term needs. Respondents expressed dissatisfaction with functional limitations, such as management of study-level metadata, unsupported glossaries, and insufficient version control. Other issues included unstable or outdated systems and non-compliance with CDISC standards. For detailed information about this survey, download our new white paper, Metadata Management: The Big Drivers for a Solution.
SOA Software offers one of the industry’s leading metadata management solutions. Its Semantics Manager product is a mature metadata management solution that facilitates moving to an optimized, agile clinical development lifecycle by serving as the authoritative source for data standards and clinical artifacts. In 2013, it was selected by CDISC as the technology platform for SHARE. However, Semantics Manager is not just for standards organizations. It has capabilities to create, manage, and govern not only standards, but all metadata as reusable assets. Through reuse of and relationships between content comes automated impact analysis and inheritance, which improves data quality and accelerates clinical development cycle times.
SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accelerate their digital channels with APIs, drive partner adoption, monetize their assets, and achieve agility and operational excellence across their applications and datacenters. Some of the world’s largest companies including Bank of America, Pfizer, and Verizon use SOA Software products. SOA Software is also recognized as a “Leader” by Gartner in Application Services Governance MQ and as a leader by other analyst firms. For more information on SOA Software’s API Platform, see http://www.soa.com