Biotech firm pilots blockchain to monitor real-time product temperature changes
Within health care’s challenging regulatory environment, leaders need more transparent, yet secure and trustworthy, data exchange amongst external partners within the health care ecosystem to deliver value-driven, health care innovation. Executives at one of the world’s largest independent biotechnology companies sought to investigate the application of blockchain, a data repository that’s ironclad safe, to achieve this objective. One focus area they sought to address was supply chain.
For certain drugs, maintaining a consistent temperature is critical to their effectiveness. The company chose to apply blockchain with a specific assignment: tracking, monitoring, and logging product temperature. Product sensors could deliver real-time temperature measurements at each stage in the process and stakeholders would be able to securely exchange data and access stored records they could trust at every step, from the manufacturer to the distributor to the pharmacy.
By thinking big, but starting with small, controllable tasks like tracking product temperature, the company capitalizes on the opportunity of the new technology, while reducing risk. The project revealed that blockchain would be an innovative approach towards securing data exchange among partners: it improves transparency, ensures product quality, and creates a faster path for tracking temperature. Piloting the concept is the next step to prove that the approach can drive significant value.
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In this introductory module, Fabrice Marque, Managing Director Customer Strategy Practice Lead for France, Belgium and the Netherlands, also in charge of the ESSEC-Accenture Strategic Business Analytics Chair, will first introduce the MOOC in general. Then Michael Svilar, Global Accenture Data Science Group Lead, will identify the general trends in this sector. In this module, we will cover three different real-life examples. First, Rohit Banerji, Accenture business lead responsible for big data analytics for the resource sector, will present an example from a water utilities company. Second, Cian O’Hare, Managing Director at Accenture Digital, will present a case study from a global communication provider. Finally, Christopher Gray, public service expert at Accenture, will discuss challenges arising in the public sector where Analytics and Big Data can provide effective solutions. At the end of each example there will be quiz questions. Note that those questions may require you to collect additional information from that which was delivered during the videos. Do not hesitate to consult additional books, websites and examples about this topic: some of the answers can actually be found directly thanks to open access research engines or online encyclopedias! The objective with this final MOOC in the Strategic Business Analytics specialization is to assess whether you now master the different concepts that are implemented within this field.