Healthcare

The challenges of Pharmaceutical companies are extremely complex. Intensive investments in R&D, short business cycles, huge information load, new marketing channels, risky product development cycles and approvals, emerging biotechnology competition, ever-accelerating discoveries, mergers and acquisition trends. Developing a winning formulation requires tremendous amounts of analysis of various clinical trials and data analysis under different conditions —shelf life, storage conditions, side effects etc. in a variety of environments —like laboratory compliance etc. 

To improve product development, increase operational performance, drive revenue and market share and comply with regulatory requirements, Pharmaceutical companies use BI to excel in an increasingly competitive market by improving product development, enhancing go-to-market strategies and optimizing their supply chains.

Customer Analysis

• Develop more targeted customer profiles that focus not only on products, but also on the ability to pay for them by analyzing historical health trends in combination with demographics

Field Operations

• Analyze the prescription activity in a geographic region or area to make sales force adjustments according to market size or penetration
• Provide in time feeds to sales force, allowing them to answer not only detailed drug information questions, but also historical and trending questions

Marketing Analysis

• Analyze buying behaviors and treatment outcomes to create more drug and product variations tailored directly towards different age groups and risk factors
• Combine demographics and patient historical trends to target “quality of life” needs of patients (i.e., lifestyle drugs) that improve the day-to-day living standards of patients, especially for non-acute medical conditions

Supply Chain Optimization

• Improve production schedules through analysis of which products stay on the shelves the longest and how well each product is selling
• Manage inventories more efficiently based on historical trends and patient behavior to prevent stock-outs at retail and pharmacy locations

Clinical Data Analysis

• Clinical data analysis evaluates and streamlines large amount of information. Helps to see trends, irregularity and risk during product development and launch. 

Some Key Analytics for Pharmaceutical & Chemical:

Demographic Analysis, Campaign Analysis, Market Share Analysis, Competitive Market Analysis, Insurance Billing Compliance, Drug Compliance, Cost Controls, Clinical Data Analysis, R&D Analytics