target audience: TECH BUYER Publication date: Mar 2024 - Document type: IDC Perspective - Doc Document number: # US51880724
Sponsor and Vendor Challenges for Implementing a LoTF Strategy — Defining Measures of Success
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Abstract
This IDC Perspective discusses existing sponsor and vendor challenges for implementing a LoTF strategy and provides guidance to the technology buyer on how to address these challenges. It also examines key KPIs that sponsors are using to define success.
"The 'lab of the future' is a complex world to navigate. A plethora of antiquated legacy systems, data silos, technical debt, a lack of data interoperability, as well as a lack of skill set interoperability (data, technology and scientific expertise never seem to come together), have left both technology providers and the life sciences industry struggling. Yet there is an increasing recognition that this is the only way to proceed, and the industry is forging ahead, measuring success, and validating ROI as it undertakes the lab modernization journey," said Dr. Nimita Limaye, research VP, Life Science R&D Strategy and Technology at IDC.