How Decision Engines Will Reshape the Life Science Buying Journey
February 2014 | 6 Pages
The way in which purchasing decisions are being made in the life sciences is being fundamentally and irreversibly changed by an overwhelming and ever-increasing amount of choices and information. This is leading to an increase in decision paralysis and decreasing satisfaction with the ultimate selection. To date, an incredibly small fraction of life science companies have done anything to address the problem. This paper introduces the concept of decision engines â tools which are designed to streamline and simplify decisions by allowing a user to effectively select from a wide number of options as easily as they would select from a handful. We discuss how decision engines are already creating disruptive change in other industries, when decision engines are useful and their conditions for success, the process of designing decision engines, and opportunities for decision engines to be deployed within the life science tools and services sector. The paper contains numerous references to original scientific literature and other highly reputable sources in support of the ideas discussed.