Real-world data and evidence can help medical product companies understand how products are really being used, knowledge that can feed back into many aspects of their businesses. But beware the pitfalls of amalgamating, curating, and analyzing data sets at this early stage in the field. Guidehouse consultants Liisa Eisenlohr and Bill Woywod tell us what to watch out for.
As medical technology companies increasingly seek to harness the power of data analytics to gain a deeper understanding of their industry and its competitive landscape, a number of third-party analysts are emerging. These external partners aim to mine, curate, and analyze the growing wealth of available data to provide insights in support of such major efforts as launch planning and execution. They often tap into real-world data (RWD) to produce real-world evidence (RWE).