We’ve built a predictive analytics intelligence kit using machine learning enabled algorithms for clinical development financial planning, budget benchmarking and cost optimization.
TrialValue A.I.+ can predict costs, budgets and staff resource needed for clinical programs at the earliest stage of the financial and business planning. It will offer solutions to optimize forecasting and budget performance. The size and analytical capabilities of our datasets are unmatched in the industry.
TrialValue A.I.+ was launched on 8 November 2018 at our first members’ workshop held at Utrechtinc, The Netherlands. Many thanks to everyone who attended and made it a lively and fun session.
We kicked-off with a brief history of the project and explained the problems the model is designed to solve:
To generate realistic and optimal study costs and budgets with only a few assumptions so as to meet the needs of financial planning, budgeting and investment decision making.
We then talked about the challenges of trying to build models in a data constrained context and discussed the approaches used to ensure that we achieved good performance in terms of budget prediction accuracy and precision.
Table below presents a snapshot of results after running the model using test use cases.
Technical stuff - Here’s a quick overview of the data modeling framework:
Simulation showing the relationships between cost structures and value drivers within the clinical development system (Made with LOOPY, a tool for thinking in systems).
What next? We’ll be running webinars (some free), open and in-house workshops starting February 2019.
The sessions will focus on using real financial planning situations and case examples.
Audience: Project managers, Directors and Heads of Departments from finance, clinical development, clinical operations, procurement, program planning, business development and investors.
Interested in learning more about the upcoming seminars and workshops or how A.I.+ can help you with financial planning, budgeting and forecasting needs, please contact us using this form: