Since the start of this blog series earlier this year, we’ve covered R&D, Clinical, and Manufacturing & Supply Chain, which takes us past the halfway point in the series. Now we move outward from the four walls of the pharmaceutical organization and cover sales and marketing.
This can cover many areas, but I’ll share two examples where both challenges and opportunities exist to not only improve operations, but also provide insights to improve the business.
Consumers access pharmaceutical information and products from both the Internet and brick and mortar locations, with the latter including both pharmacies as well as providers (e.g. doctors, caretakers, etc.).
- Web Analytics: As consumers use the Internet to research and buy products, they often use sites like Google, Facebook, YouTube and other properties. Taking advantage of the information that can be garnered from these sites and the analytical sites that accompany them, like Google Analytics, can provide interesting information on its own. Additionally, “mashing” this with internal financial spend on these sites can yield new business insights that allow you to make appropriate changes regarding where to focus future marketing efforts. If you’d like to learn more, check out this customer case study.
- Point of Sales Data: Accessing global point of sale data allows pharmas to determine what products are selling where, along with other telling business insights. However, given the drastic differences in what data is collected, the applications and systems that collect the data, and what format the POS results are available in for review, it is often difficult to get the data in a usable format for review. Cloud-based integration and data harmonization is a great model with which to aggregate the vast amounts of data from disparate and distributed sources, and then provide the output in a desired format that allows sales and marketing analytics to gain insights as to what is selling well and where, and what needs to change in order to better push product elsewhere. If you’d like to learn more, check out this customer case study.
Have you taken advantage of any new, global data sources and/or run into challenges trying to take advantage of them? If so, I’d love to hear from you.
Until next time,
Gary Palgon, VP Healthcare and Life Sciences Solutions