Predictive Analytics helps connect data to effective action by drawing reliable conclusions about current conditions and future events (Gartner). These patterns unfold anomalies of past and help in anticipating the future. The anomalies can be frauds or new discoveries of systems and the anticipations can be future opportunities, or reminders of risks involved.
Techsophy has hands-on experience in building predictive models for various organizations. Techsophy has developed Panacea, a predictive analytics solution for risk-based management of clinical trials for Pharma, CRO’s, Biotech and medical devices industries.
It helps in recruiting and monitoring participants for clinical trials. The advanced algorithms help identifying the future dropouts and taking effective measures for backup. It helps in identifying the falsifying clinical research centers and coming up with fool proof audit plans. It also helps in selecting a center which is more likely to be successful.