This article is based on the sharing of Ye Hui, VP &CIO of Jinyao Darentang, at the 12th CIAPH Pharmaceutical and Health Industry Digitalization Summit Forum
Data products are not a new concept, and with the development of digitalization, the influence of data products is gradually amplified. For technology enterprises, data products themselves are an important part of the core business, while for the majority of traditional enterprises, the exploration of data productization is still in progress.
If we want to promote innovation and business model change through data productization, we must fully realize the value of data. At the 12th CIAPH Pharmaceutical and Health Industry Digitalization Summit Forum, Ye Hui, VP &CIO of Jinyao Darentang, introduced his thoughts on data productization, and the following is the main content of the sharing.
叶辉 津药达仁堂VP&CIO
Hello everyone, I am Ye Hui from Jinyao Darentang Group (hereinafter referred to as Darentang), and I am very honored to share my digital practice.
First of all, let's introduce Darentang. Tianjin Pharmaceutical Darentang Group Co., Ltd. is a Chinese medicine industry chain with a complete industrial chain integrating planting and processing of medicinal materials, pharmaceutical research and development, pharmaceutical production, pharmaceutical business and health industry, which is controlled by Tianjin Pharmaceutical Group and listed in Singapore and Shanghai. With more than 500 years of historical inheritance, Darentang has accumulated a profound cultural heritage of traditional Chinese medicine, with 4 Chinese time-honored enterprises, 5 national intangible cultural heritages, and 12 Tianjin municipal intangible cultural heritages.
With 22 dosage forms, 599 drug approval numbers, and 122 exclusive production varieties, including the national secret varieties of fast-acting Xingxin Pill and Jingwanhong ointment, the products cover 14 therapeutic areas such as cardiovascular and cerebrovascular, respiratory, digestive, pediatric and tonic.
With the core values of "love, quality and strength" and the vision of "innovative Chinese medicine leader", Jinyao Darentang strives to realize the transformation and upgrading from a traditional production and operation enterprise to a digital Chinese medicine enterprise with a full life cycle health industry service type, and strives to build the most valuable green Chinese medicine enterprise in China.
In the field of digitalization, Darentang's digital vision is to become a data-driven, patient- and user-centric healthcare service leader in China. We expect to drive business innovation and realize data assetization through digitalization. Objectively speaking, our digital strategy is very pragmatic, internally hoping that digitalization can bring cost reduction and efficiency increase, and externally hoping that digitalization can help business develop the market. In terms of implementation, we will implement the digital strategy in eight scenarios: marketing, R&D, big health, intelligent manufacturing, medicinal resources, operational excellence, AI 2.0, and digital growth.
There are many things to consider before going digital. This is a Gartner release that shows the different dimensions that CIOs should focus on throughout the year, with digital business strategy and execution being the most important, followed by operational optimization, and providing digital products and services. I believe that digitalization should be carried out on the strategy of co-leading, co-delivering, and co-governance, and these ideas are very instructive.
In the process of promoting digitalization, it is important to take into account the scenario of the enterprise. At present, many enterprises are committed to expanding the market, in this context, how to do digital transformation and how to carry out organizational change? The following figure shows the five forces model of enterprise-level BI, in my opinion, organizational strength, scalability, overall planning, agility, and security are also factors that need to be considered when making digital products.
From the perspective of data assets, building a digital product strategy should fully consider the compliance and quality management requirements of the industry, as well as risk control. When designing products, different scenarios have different data combination requirements.
We hope to build an efficient process-based organization driven by data elements and technological innovation, so as to reduce costs and increase efficiency, help businesses open up more markets and better serve patients.
The whole process is carried out in stages, in the first stage, we process the original data through innovative tools to form data potential energy, and in this stage we will do a risk assessment. After data processing, analysis, and insight, it enters the productization stage (the second stage). Our goal is to turn data potential into business momentum, and we also use DevOps for agile development in the process, and we also need efficient collaboration from the team.
It should be noted that the construction of any digital product should start from the scenario, and different scenarios have different requirements for quality, permissions, and information security. The value of automation is not only simple BI and reports, but also needs to be co-created with business partners, and data is not immutable, so it is necessary to continuously iterate products to ensure the implementation of data value.
When the business momentum is formed, we hope to form a flywheel effect, from data resourcing to productization, and then to value, and at the same time, we can feed back, empower the process of productization and recycling, and finally realize the escort and expansion of the business, and bring more value to patients and users.
This is only our 1.0 architecture, and there is still a lot of room for improvement, including the application of AI and the application of digital employees, which requires ecological partners to co-create with us. This is not only what Darentang needs, but I believe it is also a rigid need of the entire industry.
In the past period of time, Darentang has carried out a wide range of experiments, and at the same time, it has also achieved certain results. Our internal product called Darentang DP003 is a data product that we developed from 0 to 1. At present, we have empowered 8 of our products, covering our advantageous areas, including cardiovascular and cerebrovascular, respiratory, rheumatism and bone pain, skin, chronic diseases, etc. At present, DP003 has reached the volume of tens of millions of data, and the report co-created with the business is a closed-loop comprehensive system. In a recent special action for respiratory products, DP003 created a 10% increase in comprehensive value in just one month, truly achieving business value landing.
The so-called efficient process organization requires collaboration with cross-departmental and cross-organizational business partners to achieve a closed-loop of rectification plan, reach, action, feedback and result tracking. Digital products can't just be positioned to support blitz operations, but need to be part of ongoing operations. For the value extension of digital products, we hope to empower business categories and advantageous products to grow into the main value chain of serving users and patients, improve service and brand power, and achieve ecological win-win results.
We have thought deeply about "new quality productivity", what is the relationship between digital products and new quality productivity, how to build new quality productivity? As far as the current development of the industry is concerned, I think there is still a long way to go. However, the overall path is clear, we need to turn data into data resources, form data products with data resources as the starting point, create value for business through data products and form data assets, and identify valuable data assets through elements to support decision-making and business innovation.
The integration of innovative data elements and traditional elements, digital products and data elements activate the organization, and form new quality labor materials, new quality labor objects, and new quality labor force, and then form new quality productivity. Of course, the formation of new quality productive forces is not achieved overnight, and requires a long process. The policies of the industry and new technologies may have a profound impact on it, and as far as I am concerned, I am full of expectations for new quality productivity, especially in the field of traditional Chinese medicine and health.
That's all for me, thank you.
Good news!!
Friends, the good news is that !! CIAPH 12th Pharmaceutical and Health Industry Digitalization Summit Forum was unable to participate in the meeting, so there is no need to regret missing the sharing of industry experts. Click on the lower left corner to read the original text or scan the QR code below to watch it online!
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The "CIO Development Center" was initiated in 2005 by a group of CIOs who are passionate about the career development of CIOs in China, with the purpose of "aggregating the power of CIOs in China and boosting the business value of CIOs". It aims to promote the promotion of professional norms, the improvement of the growth environment and the improvement of the quality of the team through academic and experience exchanges, knowledge and concept publicity, so as to promote the improvement of the level of information application and the establishment and improvement of the CIO mechanism.
This article is reprinted with permission from the CIO Development Center