– Kx selected by RxDS as the platform for its data analytics solutions
– Solutions based on Kx will unlock the data within pharma and healthcare companies to allow better and more rapid decisions
– RxDS aims to disrupt market valued at US$ 24.6 billion by 2021
LONDON/PALO ALTO, CA Global technology specialist FD today announced on 11th May, that RxDataScience Inc (RxDS), an innovative start-up focused on the pharmaceutical and healthcare landscape, has selected Kx technology to power its data science platform. The agreement will allow RxDS to target the global healthcare analytics market, expected to reach US$ 24.6 billion in 2021.
RxDS’s selection was driven by the extreme performance that the Kx technology stack provides for linking and analysing large volumes of data from multiple sources. Kx will allow RxDS to generate actionable insights for its customers through its unique capability to ingest, process and analyse huge volumes of historical and streaming data in real time. In particular, Kx is well suited to its ability to combine different, large datasets to provide a holistic view for clients within a single platform.
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RxDS has extensive experience within the pharmaceutical industry, using data science and machine learning to solve complex business challenges. Kx will power a wide range of RxDS solutions across the Pharma value chain generating predictive analytics insights from terabyte volumes of patient medical, claims and lab records incorporating billions of rows of data. These solutions are purpose-built applications such as Rare Disease Patient Finder, Longitudinal Patient Data Analyzer, New Product Launch Accelerator, and Predictive Managed Markets Analytics. These innovative solutions are quickly tailored for individual customers’ markets and products generating immediate and significant business value.
Larry Pickett, Chief Executive Officer of RxDataScience commented: “Through its ability to rapidly link and query very large data sets commonly found in the healthcare and pharma markets, Kx is the ideal platform to enable delivery of our data science applications. Its lightning fast in-memory columnar time series database provides unmatched speed and flexibility to support our customers’ ability to rapidly identify trends and enable better decision making across their organisations. Until now, these sophisticated analytical technologies were only used by the most prestigious financial services firms on Wall Street – we are now bringing Kx technology to pharma and healthcare.”
Brian Conlon, Chief Executive Officer of FD commented: “RxDS is led by experienced pharma and healthcare experts with strong products and a solid development roadmap to deliver high-value solutions to their customers. Combining this domain expertise with our Kx technology provides the capability to disrupt these valuable and growing markets.”