is one of the largest pharmaceutical companies in the world, with 60 000 employees and revenues of 22 billion USD in 2018. On November 20th
2019, our partner Daniel Johansson
, from Soundtrack Your Brand
, was invited to a closed conference for 60 system architects from all over the world, to talk about how the music industry makes use of statistical analysis, and what FuturePulse aims to do.
During the latest years the music industry has started to build close relationships with end users through streaming services and social media, B2C instead of B2B. The same kind of development is happening in pharma, where medicine developing companies are building direct relations with patients participating in studies, rather than depend on middle men. The question is how data is handled in these relations, processed and visualised.
The music industry is using AI
and machine learning techniques
to find new talent, both artists and tracks, to identify hits, something that is even more important in the pharmaceutical industry, how to find the next medicine hit. Big data and data analysis can be used to identify trends, but also to follow up competitors and larger market developments.
One of the most important developments in the music industry during the latest years has been the development of aggregating platforms for data
that visualises and presents large amount of data in more understandable ways. This is also a transition that pharmaceutical companies are going through, trying to develop new and better systems that can give a good overview of all the data, rather than having many different platforms and formats in different countries.
Daniel demonstrated the latest development in FuturePulse
, in the presentation "Data Driven Decision Making in the Music Industry", which led to many questions and interest from the architects on how the music industry is handling confidential data and personal data, and on how AI can be used to predict market demand and future trends.
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