Hospitality Whitepaper HARNESSING THE POWER OF REAL-WORLD EVIDENCE (RWE) IN CLINICAL RESEARCH The pharmaceutical industry is working on improving the efficiency of drug development processes and measuring clinical outcomes in order to thrive in the current competitive landscape and cater to the rapidly changing demands of consumers. Advanced technology is leading them to leverage the power of digitalization with increasing focus on patient centricity. This has further enabled access to real-world data which can further generate real-world evidence (RWE) for drive impactful decisions. Real-world evidence (RWE) supports the entire life cycle of a drug, thereby reducing the overall trial timeline. In a recent survey conducted by Deloitte with Pharma C-suite executives, 94 percent of respondents believed that using RWE in research and development will become significant to their organizations by 2022. Although building robust RWE capabilities could serve as a potential key differentiator for pharma companies, there are several barriers that one needs to overcome in order to gain a better understanding of RWE: Limited access to real-world data Unstructured data sources Understanding gaps in sourced data Data analysis Governance issues Unlocking the value from real-world data is the only way forward for the life sciences industry to achieve accelerated clinical trials and support regulatory decisions such as approval of new indications or label expansions for existing drugs. The white paper highlights how life sciences organizations can better utilize the capabilities of RWE and fast-track their shift from a product-focused to patient-focused organization.