Data is the New Drug: Importance of Digital Technologies in UCB

This paper discusses the importance of digital technologies in UCB, a pharmaceutical industry, and the effectiveness of the strategy to deploy data and analytics. It also justifies the effectiveness of the incorporation of the patient strategy value in this industry.

Running head: DATA IS THE NEW DRUG
Data is the new drug
Name of the Student
Name of the University
Author Note

1DATA IS THE NEW DRUG
Executive Summary
The prime determination of this unit of the paper of this paper is to focus on the importance
of the digital technologies in UCB which is a pharmaceutical industry. The paper will be
having two units, the first unit will be considering the strategic decision of the selected
organization to deploy data and analytics. The effectiveness of the strategy will be discussed
in the paper. The second unit of the paper will be considering the importance of the
incorporation of the patient strategy value in this industry. This unit of the paper will be
justifying the effectiveness of this strategy in providing a competitive advantage to this
company over the organizations.

2DATA IS THE NEW DRUG
Table of Contents
Introduction................................................................................................................................3
Task 1.........................................................................................................................................3
Effectiveness of the strategy......................................................................................................5
Task 2.........................................................................................................................................6
Conclusion..................................................................................................................................7
Reference....................................................................................................................................8

3DATA IS THE NEW DRUG
Introduction
The foremost determination of this unit of the paper is to focus on the importance of
the digital industry in the healthcare sector. The strategic decision of UCB will be evaluated
in this paper, the impact of the strategies to generate business value will be mentioned in this
paper. The value risks and returns are considered in this paper. The effectiveness of the
patient value strategy will be discussed in the paper considering the complexities associated
with this organization (Belo, Lin and Bazdresch 2014). How the value business strategy will
be providing a competitive advantage with the other healthcare organizations will be stated in
the second task of this assignment.
Task 1
The author of the selected resource highlighted the importance of the data and
analytics to revolutionize the healthcare industry. The risks and issues associated with the
health care industry can be professionally identified with the help of the Data analysis. The
roles and responsibilities of the information technology and the future of information
technology in the healthcare sector was considered by UCB. The medical devices of the UCB
which works on the principals of information technology are needed to be tested with the
help of the data analytics adopted by this organization (Morden 2016.). Team management
and resource management will be enhanced with the use of the data and analytics method
selected by this organization. Decision making of the management team can be also impacted
by the use of the data analytics method. Innovative leadership qualities of the project
managers can be one of the most important benefits of this industry. This will surely enhance
the business value of this organization.
However, according to Grover et al. (2018), there are lots of challenges associated
with the incorporation of the data and analytics method such as breaching of the privacy of

4DATA IS THE NEW DRUG
the patient information of the healthcare industry. The online transactions are sometimes not
completely secure which will be a concern for this organization (Mettler 2016). The cost of
the data analytics tools will be the other concern for this organization along with the misuse
of the information. The author of this resource also focused on the importance of the selection
of efficient tools for data analytics.
Thus it can be said that the implementation of the data analytics method in this
organization should be very much planned so that the desired results are obtained. It can also
be said that this healthcare industry should be having an effective IT governance plan so that
the strategy can be implemented in a better way (Hoffmann et al. 2018). There are lots of
issues associated with the incorporation of the IT governance plan
Figure 1: Deployment of data and analytics in UCB
Colle ct
Mea su re
Ana lys eImp rov e
Con tro l

5DATA IS THE NEW DRUG
(Source: Created by the author)
Effectiveness of the strategy
The business value and risks associated with this organization can be significantly
improved with the help of this strategy. The essential data of this business organization such
as the admission data lab results, genomic data, payment information, retails data and other
information data can be protected with the help of the data and analytics strategy (Hsu, Myers
and Whitby 2015). The value associated with this organization such as the profitability, cost
containment, safety and convenience with the patents parties can be increased significantly
with the help of the discussed strategy. The portfolio theory of this organization deals with
the risks and returns of this healthcare sector such as the disruptive staff behavior,
telemedicine, cyber risks associated to this networking devices, environmental pollutants
associated to this industry, emergency preparedness of the operation theatres and alarm and
fire emergencies.
This strategic effectively covers up most of the important aspects of this healthcare
industry. This industry has different types of risks and challenges associated with different
business processes. These issues and risks can be minimized effectively with the help of the
IT portfolio theory (Koedijk, Slager and Stork 2016). Balanced view of value such as the
organized care of the patients, measuring the cost and outcomes of each and every patient,
prices for care cycles, integration of care deliveries, breakdown of local nature of care
delivery and building information technology platform can be considered as the important
characteristics aspects of the proposed strategy. The risks associated with this corporation
such as the cybersecurity risks and data breaching can be effectively solved with the help of
the incorporated data and analytics strategy. Networking issues are one of the major problem

6DATA IS THE NEW DRUG
faced by this industry as it involves many advanced technologies which work on internet
networks.
Task 2
The incorporated patient value strategy by the new CEO of UCB will be very much
useful for this healthcare industry. All the external and internal environment of the
organization along with the complexities associated with the environment will be very much
improved with the help of this strategy. The needs and requirement of this corporation keep
on changing with time and cases, the proposed business strategy will be very much useful.
The evidence of the effectiveness of this strategy can be determined with the help of the
business strategy like SWOT analysis of the organization. Decision making associated with
the organization can be updated with the help of patient value strategy incorporated into the
working environment (Lasserre 2017). The digital disruptions of this organization deal with
the smart technology, Internet of medical things and Telehealth, these disruptions will be
solved effectively with the help of the patient value strategy as it will be providing this
organization with a competitive advantage. The other department which this going to be
improved after the strategy is implemented is the resource management department which is
a very important aspect of this healthcare organization (Hill, Jones and Schilling 2014). The
growth-share matrix and the scenario are the other important aspects of this healthcare
organization which will be improved with the help of the patient value strategy. The clinical
capabilities, patient outcomes and efficiency of are the most vital contribution of the patient
value strategy in this organization as these will be providing the competitive advantage over
the other healthcare industries. This resource-based view strategy can be very much useful for
managing the strategic assets of this organization. The market-based view or the market
positioning of this organization can be understood in a new way with the help of this strategy.

7DATA IS THE NEW DRUG
However, according to Doz (2017), it can be said that this value business strategy can
have few negative impacts on this organization as well such as the continuous monitoring
process is required for this strategy so extra investments are required from the management
team (Barrett et al. 2015). The ever-changing market conditions are the other type of
limitation of this strategy as the needs and requirements of the patients are keeping on
changing with time and season. The author of this resource focused on the importance of the
compatibility issues of the newly installed advanced systems as their working principles may
not fall in to the areas of impact of this strategy. The author of this resource also focused on
the decline in quality of services when there will be more automated technologies in the
working environment, this will have a direct negative impact on the growth and development
of this business organization (Islam et al. 2015). Satisfaction of the clients is the most
important aspect of this industry which may be impacted with the use of the value business
strategy as the changes may always not be suitable for them.
Thus it can be said that there are lots of issues and challenges associated with the
value business strategy such as the compatibility issues with the emerging technologies and
the need for the continuous monitoring process which are needed in abundant to get the
desired results. Complex business strategies can be hugely impacted by the use of the
business value strategy. If these issues are minimized with the help of an effective IT
governance plan, then the value business strategy will be very much useful in this hospital by
providing them with many competitive advantages over the other healthcare industries
(Grover et al. 2018). But efficient use of this strategy will be helping this organization to
have a competitive advantage over the other companies.

8DATA IS THE NEW DRUG
Conclusion
From the above paper, it can be concluded that the deployment of the data and
analytics will be is a very important aspect of UCB. All the business prospects of this
healthcare industry fall under this category so the implementation process of the digital
technologies should be done in an efficient manner. The paper also helps in concluding the
effectiveness of the business value strategy considering the internal as well as the external
stakeholders of this healthcare industry. The management of the different units of this
healthcare industry can be managed with the help of the value business strategy. The paper
helps in concluding the importance of Information technology to improve the overall
competitiveness of this organization. How the incorporated technologies and the associated
strategies are implemented in this healthcare unit provides a competitive advantage over the
other healthcare industries are stated in this paper.

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Reference
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Belo, F., Lin, X. and Bazdresch, S., 2014. Labor hiring, investment, and stock return
predictability in the cross section. Journal of Political Economy, 122(1), pp.129-177.
Doz, Y.L., 2017. Strategic management in multinational companies. In International
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Grover, V., Chiang, R.H., Liang, T.P. and Zhang, D., 2018. Creating Strategic Business
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Hsu, J., Myers, B.W. and Whitby, R., 2015. Timing Poorly: A Guide to Generating Poor
Returns While Investing in Successful Strategies. Journal of Portfolio Management.
Islam, S.R., Kwak, D., Kabir, M.H., Hossain, M. and Kwak, K.S., 2015. The internet of
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Koedijk, K.G., Slager, A.M. and Stork, P.A., 2016. Investing in systematic factor premiums.
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Mettler, M., 2016, September. Blockchain technology in healthcare: The revolution starts
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