Richard E. Wendell, CEO & CDO
Fresh off winning the "Featured Startup of 2016 Award" at the Innovation Enterprise Pharma Big Data & Analytics Conference, a new technology startup, tellic, is bringing cutting-edge data science to the pharma industry. tellic enables pharma companies to move beyond traditional analytics by providing service solutions that result in a higher success rate and a greater return on investment. Per CEO Richard E. Wendell, "tellic was founded out of a passion for using data to drive better business decisions. We specialize in applying 21st-century data science in Pharma."
Compared to other industries like Financial Services and Consumer Products, Pharma is a relatively late adopter of data science. Many Pharma companies are still using what Wendell calls "20th-century technologies" which are known to cause a lag in data-driven insights and impact. tellic employs modern technologies, including Artificial Intelligence, Cloud Computing, and Python-based toolsets, that enable companies to accelerate data strategies. "The potential for modern data science, including artificial intelligence, to impact Pharma corporations is massive," asserts Wendell. Unlike other consulting firms that serve multiple industries; tellic works exclusively in the Pharma sector.
A founding Board Member of MIT University's Society of Chief Data Officers, Wendell has a seasoned perspective on data science failure points. Wendell attributes data science failure to a lack of executive engagement and business user adoption. "Most internal data science teams focus on wrangling data, building better models, and implementing new technologies, which can be so consuming that they fail to engage their business stakeholders.
The Artificial Intelligence revolution is happening now. For any Pharma company looking to leverage AI or modern data science, tellic should be their first call
Even the best data science projects will fail if they don't gain adoption with lines of business." tellic's methodology includes engaging stakeholders, which results in higher project success rates.
A key ingredient to tellic's success resides in the company's "Pharma data science accelerators" which fast-cycle the application of databases, modeling data sets, and technologies. “Powerful data science begins when different sources of data are combined and analyzed,” explains Wendell. “However, data wrangling is known to take 80 percent of the data science team’s time.” Certainly, it makes sense that having an expertise in how data sets can be combined for Pharma use cases can give a tremendous boost.
Looking ahead, tellic is betting that Artificial Intelligence ("AI") will transform how Pharma companies operate. "The AI revolution is happening now," claims Wendell. With the surging potential of AI and innovative AI solutions, the Pharma competitive landscape is likely to become highly dynamic within the next few years. Nonetheless, Wendell emphasizes the importance of the "less glamorous commercial business decisions" when turning to the market. ‘'I think that AI will dramatically augment, if not automate, a fair amount of these decision processes," says Wendell. Due to the complexity of AI data science solutions, tellic keeps the ingredients to their secret sauce safe. According to Wendell, "The Artificial Intelligence revolution is happening now. tellic has constructed one of the world's leading teams of AI experts in Pharma. For any Pharma company looking to leverage AI or modern data science, tellic should be their first call."