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 (11TH May 2017) Global technology specialist FD today announces 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.
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 road map 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.”
For further information please contact:
0845 370 7024
About FD and Kx
FD is a global technology provider with 20 years of experience working with some of the world’s largest finance, technology and energy institutions and employs over 1,700 people worldwide. The Group’s Kx technology is a leader in high-performance, in-memory computing, streaming analytics and operational intelligence. It delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications for multiple industries including finance, pharmaceuticals and manufacturing.
RxDS is a data science software products company targeting the pharmaceutical and healthcare markets. It was founded by Larry Pickett and Sayee Natarajan in 2017 and is based in North Carolina, New York and London. Its suite of software solutions apply predictive analytics and machine learning to drive innovation in pharma and healthcare delivering extreme business value for its customers.
The company comprises data science and software product development experts, with deep knowledge of pharma and healthcare datasets and associated use cases. It aims to change how Big Data analytics are practiced in healthcare, whilst solving both practical and complex problems using data science across the pharma value chain.
For more information about RxDataScience Inc., write to email@example.com.