Providing "right information to right people at right time" is very critical for decision making. Decisions should be made based on facts and not on "gut feeling". Many business critical decisions and strategies fail due to lack of facts (historical data) or not getting information at the right time.

Today, Knowledge Management with help of technologies such as Data Warehousing (DW) and Business Intelligence (BI), Content Management could play a crucial role in making right decisions in time and thus reduce waste (in money and time) and have a competitive edge.

Although the knowledge management initiative is corporate-wide, you can also implement knowledge management for smaller business units or department. These smaller knowledge management systems have helped lower costs, improved productivity and achieve regulatory compliance for departments such as R&D, manufacturing, sales and marketing.

Motivation:

Pharmaceutical industry deluged with glut of information

Every minute scientific knowledge increases by 2,000 pages Every day we send the equivalent of more than 300 million pages of text over the Internet It takes five years to read the new scientific material produced every 24 hours Over half of all scientific knowledge becomes outdated every ten years

Inefficiencies in searching and retrieving data Issues related to information sharing and management of knowledge assets Process efficiencies result in cost benefits

Up to $264 million in R&D per drug

Competitive edge due to better utilization of data and shortened time to market

Savings of up to one year per drug For a $1 billion drug, delay of one day equivalent to loss of $2.5 million in sales

People efficiency leading to loss in productivity

Scientists and decision makers spend time searching for information Scientists and decision makers spend time verifying whether the information is current and validated

Organization efficiency

Lack of real time integration results in delay of information flow leading to delay in decision making

LGS has proven expertise and recommendations in implementing cost effective, technology driven knowledge management solutions from collaboration, to document management, to workflow, to e-learning solutions, to knowledge sharing.