Pharmaceutical Research Made Simple
October 3, 2016
Pharmaceutical companies are a major power in the United States. Their power comes from the medicine they produce and the wealth they generate. In order to maintain both wealth and power, pharmaceutical companies conduct a lot of market research. Market research is a field based on people’s opinions and their reactions, in other words, it contains information that is hard to process into black and white data. Lexalytics is a big data platform built with a sentiment analysis to turn market research into useable data.
Inside Big Data explains how “Lexalytics Radically Simplifies Market Research And Voice Of Customer Programs For The Pharmaceutical Industry” with a new package called the Pharmaceutical Industry Pack. Lexalytics uses a combination of machine learning and natural language processing to understand the meaning and sentiment in text documents. The new pack can help pharmaceutical companies interpret how their customers react medications, what their symptoms are, and possible side effects of medication.
Our customers in the pharmaceutical industry have told us that they’re inundated with unstructured data from social conversations, news media, surveys and other text, and are looking for a way to make sense of it all and act on it,’ said Jeff Catlin, CEO of Lexalytics. ‘With the Pharmaceutical Industry Pack — the latest in our series of industry-specific text analytics packages — we’re excited to dramatically simplify the jobs of CEM and VOC pros, market researchers and social marketers in this field.
Along with basic natural language processing features, the Lexalytics Pharmaceutical Industry Pack contains 7000 sentiment terms from healthcare content as well as other medical references to understand market research data. Lexalytics makes market research easy and offers invaluable insights that would otherwise go unnoticed.