Monday, April 20, 2009

Clinical Trials Create Business Intelligence

My wife is participating in a clinical trial. Memorial Sloan-Kettering and Harvard are behind it, so you can guess that it is highly detailed and precise.

First, she had to qualify based on very narrow parameters. To proceed, she had to agree on protocols that determine what happens (what chemicals are used), when, and how often. Further, she had to consent to a variety of tests that would be conducted.

The clinical trial agreement identifies the purpose of the trial, its administration, the role and responsibilities of each party, and expectations. Above all, there are measurements upon measurements upon measurements. In other words, it is as quantitative as possible.

The end result will either support or invalidate the premise on which the trial is being conducted.

In business we'd call this research. All business research is not conducted with the same level of discipline (measurement and protocol) as this trial-but business should be if it is to be valid. The point is that acquiring business knowledge through research should be managed with the same level of discipline and seriousness as research that involves life issues for, in fact, the life of the business is at stake.

No comments:

Post a Comment