TIBCO Software Inc. and Relay Technology Management (Relay TM) today announced that Relay TM has selected the TIBCO Spotfire® analytics platform to power Business Development Live (BD Live!), its real-time business intelligence and data visualization solution for life science professionals.
BD Live! aggregates and visualizes structured and unstructured data from a comprehensive list of life sciences sources, including more than 27 million data points that are updated daily. "The ability to identify licensing opportunities and perform asset scouting and benchmarking via a dimension-free data exploration environment is a major leap forward for the life science industry. This is the first unified data solution to pull together these massive Big Data sources to deliver real-time, intuitive search to life science business development and corporate strategy professionals," said Ben McGraw, Director, Life Science Industry Solutions for TIBCO Spotfire.
"Organizations are increasingly searching for ways to derive value from their vast amounts of previously untapped unstructured data," said Rita Sallam, analyst at Gartner. "Finding new insights through data discovery across enterprise transaction data and unstructured data such as social media activity, email, call center records and incorporating them into analytic processes will unlock new ways to personalize customer experiences and to drive innovation, growth and productivity. Gartner expects that gaining new insights from data discovery and advanced analytics on diverse data will be an important driver of the next wave of analytic investment and business value."
Putting Data Discovery in the Hands of the User
"Life Sciences companies including Pfizer, Cubist Pharmaceuticals, and Stromedix (recently acquired by BiogenIdec) are using dashboards powered by Spotfire in BD Live! to answer questions such as 'Who are the best gram negative anti-bacterial researchers?','What's the historical licensing trend for a given drug and what does it mean for how I should be structuring current deals?'," said Brigham Hyde, Ph.D., Relay TM's co-founder and managing director. "With one click, users can drill into a visual presentation of the results to explore data sets in really intuitive ways and leading to more insight and better decisions."
Combining Best–in-Class Visualization-Based Data Discovery and Unified Information Access
"Spotfire, combined with Attivio's Active Intelligence Engine (AIE), enables us to deliver greater insight across a broader range of data for our customers – the ability to free text search through document sets directly, which allows users to create custom cuts of data visualizations," noted Hyde. "Being able to deliver a streamlined approach without having to build an intermediate infrastructure is critical to our go-to-market strategy."
The Relay Innovation Engine, which BD Live! is built on, utilizes proprietary ontologies and data architecture that leverage TIBCO Spotfire® visualization-based data discovery as the front-end, and Attivio's unified information access technology in the back-end.
"The ability to visualize the data in a meaningful way was essential to communicate the meaning of the back-end to users," noted Hyde. "BD Live! had to be accessible and to facilitate self-discovery as well as allow users to evaluate ideas without re-running reports and risk using stale information. We chose TIBCO Spotfire as the front-end for BD Live! over other data visualization players evaluated, because, as a platinum certified Attivio partner, it can connect directly to AIE so it can perform free text queries to search documents directly, and it connects to R for statistical modeling. A combination unavailable on any other platform that was essential for creating meaningful insights for customers."
As a platinum partner, TIBCO Spotfire is the only business intelligence and analytics platform that has been authenticated by Attivio to present, analyze, access and leverage AIE's AI-SQL capabilities to provide data visualization, enhanced analytics of unstructured content and intuitive search and discovery, all in the same dashboard.
To learn more about how Relay TM is empowering the next evolution in biopharma with analytics, register for the July 17th webcast.
About Relay Technology Management
Relay Technology Management (relaytm.com) is a life sciences trend analytics and asset comparison software provider. The company's Relay Innovation Engine software platform powers BD Live! to support business development and corporate strategy professionals in the life science industry confirm the attractiveness of assets under consideration and unearth new technologies. Relay aims to increase the efficiency of drug development by offering a transparent, objective and scalable approach to rapid asset analysis.
BD Live! provides access to a comprehensive information repository on biopharma assets and other relevant entities and utilizes cutting-edge data visualization technologies to create interactive dashboards that dramatically improve the user experience and enable users to rapidly confirm the attractiveness of assets under consideration, identify Key Opinion Leaders, and unearth new technologies.
TIBCO Software Inc. (tibco.com) is a provider of infrastructure software for companies to use on-premise or as part of cloud computing environments. Whether it's efficient claims or trade processing, cross-selling products based on real-time customer behavior, or averting a crisis before it happens, TIBCO provides companies the two-second advantage™ – the ability to capture the right information, at the right time and act on it preemptively for a competitive advantage. More than 4,000 customers worldwide rely on TIBCO to manage information, decisions, processes, and applications in real-time. TIBCO Spotfire® is the company's in-memory analytics software for next generation business intelligence. By offering a visual, interactive experience, Spotfire® helps professionals quickly discover new and actionable insights in information.
TIBCO, TIBCO Software, TIBCO Spotfire, Spotfire, and two-second advantage are trademarks or registered trademarks of TIBCO Software Inc. or its subsidiaries in the United States and/or other countries. Relay Technology Management, Relay TM, BDLive!, Business Development Live are trademarks of Relay TM. Attivio and Active Intelligence Engine are trademarks of Attivio, Inc. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.