The Center for Business Analytics is pleased to recognize LabWare as an honoree of the 2023 Drexel LeBow Analytics 50 Awards. Read more about how LabWare used analytics to solve a business challenge.
Submitter
Patrick Callahan ’93, Head of Data and Analytics
Company
LabWare
Industry
Laboratory Information Management Systems
Business Challenge
Laboratories around the world face challenges in analyzing and making predictions from their data due to various reasons. Laboratory data is often complex and voluminous, making it difficult to process and interpret using traditional data analysis tools. Additionally, laboratory experiments are typically designed to explore a large number of variables, which can lead to the generation of large datasets that are challenging to analyze and interpret.
Analytics Solution
LabWare created a data science engine that enables the labs to do analytics on their own data. The company’s data science engine leverages the power of R and Python to enable laboratories to analyze their complex and voluminous data and make predictions with ease. With the engine, laboratories can identify patterns, extract insights and gain a deeper understanding of their data to make informed decisions.
Impact
Integrating artificial intelligence and data science as foundational elements of LabWare’s software has given the company a competitive edge in the market. With the ability to leverage these advanced technologies, LabWare can offer its users powerful analytical capabilities that help them gain insights and make better decisions. This has opened a whole new world of possibilities to expand the company’s software and explore new use cases in the laboratory space.