Here is one focal point from an in-depth post on data and the pharmaceutical industry by Forrester analyst Skip Snow: “The recent changes in American patent laws from first to invent to first to file is driving a need to more coherently manage the data associated with creation of intellectual property.”
This is an example of how a small regulatory change can signal a big business change. “First to invent” is debatable; “first to file” is verifiable. The speed and certainty of a company's path from discovery to filing will become absolutely vital to business success.
With the migration of business online, “first to file” is also the make-or-break concern for many service organizations. For insurers addressing novel markets with innovative products, getting from invention to website is the crucial path. Snow notes that data standards play a key role in another pharma focal point, namely the move from looking at molecules to treating patients holistically. But standards can also help to accelerate the “to file” path, and make the path replicable across different areas of the business. Forrester
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