Greg Schlimm, CEOThe pharmaceutical industry is undergoing intense transformation. Over the last decade there has been a dramatic shift from the blockbuster era to one where growth comes from targeted therapies in smaller populations— more personalized medicine. “Traditionally, the industry has made billions of dollars from blockbuster drugs targeting primary care conditions. The growth areas in the pharma sector are much more specialized and complex, requiring companies to use a variety of data to assess new markets and understand market dynamics,” asserts Greg Schlimm, CEO, Themis Analytics. With data coming from secondary data vendors, primary studies, public domain and internal sources, it is difficult for companies to consolidate data, pinpoint areas of growth and track competitors. Themis Analytics offers analytical solutions that significantly expand data driven decision making throughout clients' large, usually far flung operations.
“Those working in pharmaceutical sales and marketing analytics need to pull together dozens of different kinds of data to analyze and track markets. However, IT groups with their significant resources often lack the ability to evolve platforms as quickly as sales and marketing needs—especially when the analyses need to be performed each week, month or quarter,” says Schlimm. Named after Themis the Greek goddess who put order into the affairs of man, the company specializes in harmonizing disparate data to support decision making and related business processes.
Themis Analytics currently offers 14 Open Access solutions, each targeted at different challenges within the industry. Open Access Global allows global corporations to monitor brand performance and market dynamics in key markets around the world. OpenAccess Oncology addresses the unique complications surrounding oncology data in the pharma market. “Oncology specific markets are very complicated and difficult to monitor. Our solution pulls together a wide range of data to render a complete picture of cancer therapies whether assessing broad trends in oncology or focusing in-depth on individual cancer types,” states Schlimm. All Themis’ Open Access solutions help clients address specific analytical challenges.
We aggregate disparate data sets using our specialized SAAS platform to enable decision makers to truly understand market dynamics in this complex global industry
Known for expertise with market data, solid production processes, and front-end tools focused on the unique needs of this industry, Themis Analytics was approached by a global pharmaceutical company looking to improve accuracy and reduce costs in monitoring a range of market areas.
Themis Analytics not only provided the client with the solution to setup a single version of market performance, but also helped them to dramatically reduce costs required to prepare analyses, thus resulting in significant savings and internal efficiencies. “Currently, we work with 100+ different kinds of data used by the industry and we have built IP to import data into our platform and manage it,” says Schlimm.
The company maintains an ongoing outreach program to all data suppliers. “The suppliers of data can be companies that sell market data or public domain sources like the World Bank, WHO, the U.S. government and others. Suppliers can also be research firms providing the results from primary research studies, and sources such as finance and CRM systems. Sources need to be aggregated, integrated, and harmonized to identify market dynamics and brand performance,” says Schlimm. In terms of innovation, the company maintains a well funded R&D division which provides an ongoing stream of new capabilities through its SAAS offerings. Looking forward, Themis Analytics sees continued growth opportunity expanding solutions to this very large niche industry. “We will continue to help our clients solve an expanding set of challenges and stay current with new types of data and related analytics,” concludes Schlimm.