Editor’s note: WRAL TechWire and the Council for Entrepreneurial development are partnering to present a series of profiles and Q&As featuring companies startups and emerging companies participating in the CED’s annual Life Science conference coming up Feb. 28-March 1 in Raleigh. The latest profile is RxDataScience.

RxDataScience

​Web site: www.rxdatascience.com                                                                          

  • CEO: Nataraj Dasgupta
  • Contact information: nd@rxdatascience.com
  • Sub-sector: Healthcare IT/Digital Health                                                     
  • Headquarters: New York, NY                                                            
  • Year Founded: 2016

COMPANY PROFILE

RxDataScience, Inc. is focused on pharmaceutical and healthcare market research and data science. We have practical experience solving difficult data science challenges in the data preparation, visualization and machine learning areas involving healthcare data (especially pharmaceutical). We have evaluated several platforms that are popular and promoted heavily.

FOUNDERS/MANAGEMENT TEAM

  • Larry Pickett, CEO
  • Sayee Natarajan, CTO

KEY MILESTONES TO DATE

Funding: $3-5MM

POWERED BY

The Frontier- RTP

Q&A

  • What is the primary pain point you are seeking to address?

The volume of data in healthcare is exploding. Pharmaceutical and healthcare companies are seeking to get more value out of the data they purchase and own that is fragmented among many systems and databases.  It is time consuming and complex to load, clean and prepare big data for analysis.  As a result, there is a large backlog of analytics projects which are not completed due to time, resources, and expertise.  There is simply not time to complete projects which can generate insights and value for the business.

  • What sets your company apart? What’s the “secret sauce”?

Our solution enables customer to quickly and automatically load and link large volumes of data across many systems and then perform advanced analytics using our pre-built applications.

We provide a large suite of applications, which address specific business problems or questions, embedding sophisticated data science techniques so business analysts can analyze the data quickly and efficiently without having to learn programing or coding.

  • Why should investors be interested in your company? What is the potential market size?

The healthcare industry industry and pharmaceutical companies have been laggards in adopting new information technology and particularly slow in applying big data analytics to their business models. RxDataScience is bringing a highly sophisticated and proven advanced analytics technology platform, used for many years on Wall Street and in Financial Services, to the pharma and healthcare industries. This disruptive platform, combined with our innovative applications, will enable companies that adopt it to leapfrog their competitors by leveraging the power of big data analytics for their businesses.

With the new wave of patient engagement, combined with mobile phone technology, along with sensors and wearables to generate data to monitor health, the volume of data in healthcare is exploding. Companies are searching for new and better ways to manage this data and generate insights to drive business growth, reduced healthcare costs, and improve patient outcomes. 

RxDataScience Inc. is uniquely positioned to capture large market share due to its combination of deep domain expertise, sophisticated data science algorithms embedded in a broad suite of software applications, running on a very powerful high performance computing platform.  The total opportunity is estimated at $20B by various industry analysts.