4 Types Of Events Where Transcriptions Can Benefit Your Biotech Research Company
Transcriptions are significantly beneficial for streamlining the research process in biotech research companies. But in order to maximize the advantages of transcriptions, you need to know where you can use them.
Here’s what you need to know.
Why Use Transcriptions For Biotech Research?
Creating and using transcriptions may seem like an extraneous step in an already lengthy research process. However, it may actually be significantly useful in streamlining your workflow.
Consider these two statistics in the biotechnology industry:
- In 2022, Pharmaceutical Research and Manufacturers of America revealed that it takes an average of 10-15 years for an experimental drug to be planned, developed, approved, and distributed for public use
- A 2018 study on investments in medicine research and development found that companies often spend anywhere between $314 million and $2.1 billion to introduce just one drug to the market
Since these are industry averages, having mistakes can make research projects more expensive and time-consuming. Hence, it is imperative to minimize workflow errors and bottlenecks in order to meet research goals within a tight timeframe.
With that said, biotech research transcriptions are highly beneficial in two ways:
- Biotech research transcriptions can streamline the research process by providing reliable reference materials for future research projects
- Biotech research transcriptions can reduce errors during data analysis, allowing researchers to achieve their goals more efficiently
How Can Transcriptions Support Biotech Research
There are 4 types of events where biotech research companies can benefit significantly from transcriptions:
- Training sessions
- Team meetings
- Conference calls
Training and review sessions are vital for expanding and maintaining the knowledge base within a research firm. In general, biotech researchers need to do the following to stay abreast of upcoming biotechnology trends:
- Introducing new research methods and trends
- Incorporating updated technologies into the workflow
- Understanding newly implemented processes and protocols
To achieve this, researchers must regularly engage in product demonstrations, refresher sessions, and lectures led by senior researchers.
In this context, transcriptions are invaluable for several reasons:
- Reliable training materials - You can use transcriptions to review lectures and reinforce your understanding further
- Enhanced accessibility - Those who miss the training sessions can use transcriptions to catch up. Also, transcriptions are useful for captioning videos for easier understanding among researchers, especially those with hearing disabilities or challenges understanding the spoken language in the video
- Basis for future training - Transcriptions can serve as a basis for planning future training sessions for continuous learning
You can use transcriptions to complement audio recordings of your team meetings to maximize understanding and collaboration with colleagues. This is vital because working in sync is imperative to achieving research goals efficiently.
Transcriptions can do the following with team meetings:
- Serve as documentation - Transcriptions can capture critical insights that may be useful in projects and greatly reduce miscommunication
- Promote collaboration - You can create accurate meeting minutes out of transcriptions to ensure that everyone is on the same page
- Foster long-term planning - Transcriptions are incredibly useful as a basis for future team meetings or even major projects
Conference calls can be long and complex, and it can be time-consuming to listen to audio recordings of the discussions. However, they can also be significantly beneficial as they may contain crucial insights that can net you a substantial advantage over competing biotech research companies.
To quickly leverage the insights found in conference calls, transcriptions are a must for the following reasons:
- Quick navigation - You can use the search function of your word processor to immediately jump to key insights in the conference call
- Speaker labeling - Transcriptions allow you to correctly associate certain insights with multiple speakers
- Storing knowledge - Transcriptions also enable you to learn and write notes from other experts in your organization
Seminars are an excellent source of insights and information on ongoing trends, discoveries, and best practices from other experts in biotechnology.
Some of the ways that transcriptions can improve your return from seminars include:
- Shared learnings - You can share transcriptions of the seminars you attend with your organization so that everyone can learn from the discussions. In addition, transcriptions are significantly easier to navigate than audio recordings, especially for researchers who are strapped for time
- Enhancing research - Having transcriptions allows you to accurately apply what you learned from the seminar to your research projects
- Reference for future studies - Seminar transcriptions can serve as portals into other life science industries that your organization can enter
Transcriptions Are Powerful Tools in Biotech Research
These are only some examples of events where your biotech company can benefit from transcriptions. In reality, any spoken discussion or dialogue related to your research is an opportunity for you to utilize transcriptions for maximum understanding.
Transcriptions are indispensable assets that can tremendously enhance your workflow, gain a competitive edge, and allow you to achieve your research goals.
To access accurate biotech research transcriptions, choose TranscriptionWing as your research partner. TranscriptionWing offers reliable rush transcription services powered by our expert human transcriptionists.