Global Drug Launch: BI Solution For
Pharma Industry
Introduction
This case study explores the journey of a forward-thinking pharmaceutical company as it sets out to conquer new territory. Our goal? To launch medical drugs in an untapped global market, boosting sales and expanding the company's market share along the way. We assisted the company with advanced pharmaceutical analytics solutions. Our team dedicatedly helped the company in providing top BI solutions for the pharma industry. These tools help us understand new markets more effectively and identify opportunities for growth.
Challenges
Launching a new product in an unfamiliar global market highlights the significance of gaining accurate and clear pharma data insights into the demand for the drug across various geographical regions. The drug in question targets a disease intricately connected to other medical conditions, introducing complexity in understanding the nuances and interdependencies of the demand dynamics.
- Lack of uniformity between business units (Veeva Marketing Data, Finance, Operations, Supply Chain, Inventory Data, and Healthcare Association Data).
- Incorporation of data from different sources in two separate platforms to cater medical representatives (Field Report on iPad application using MSTR) and the leadership team (Tableau Dashboard).
- Huge quantity of data at the granularity level of each individual patient.
Process we followed
The implementation process followed all the critical steps from ensuring that the data is consistent, accurate, and available for analysis.
Data Sources
- Veeva Open Data.
- Internal Data.
- Symphony Health Data.
- American Hospital Association.
Data Framework
We crafted a data framework that facilitated data refresh automation and MDM process integration. The framework further tracked KPI’s across geographies, hierarchical analysis, web performance and more ensuring comprehensive visibility for actionable decision-making across the organisation.
Analytics Pipeline
BI Analytics pipeline developed allowed a swift flow of data between marketing platforms to the data transformation process where reporting tables were created and then to BI tools for advanced visualisation and reportings.
Other use cases of presented solutions for pharmaceutical operations :
Personalized Medicine Development
Utilise data analytics to analyse genetic and patient data to identify potential candidates for personalised medicine. This can streamline drug development for specific patient populations.
Spotting Trends for Tomorrow’s Cures
Be a trend spotter in the world of medicine. By analysing market trends, competitor moves, and listening to what patients need, we cook up new drug ideas that could change the game.
Market Trend Analysis for New Drug Development
Conduct market trend analysis using data analytics to inform new drug development strategies. Analyse market dynamics, competitor activities, and patient needs to identify opportunities for innovation.
Patient Adherence Programs
Utilise data-driven insights to develop patient adherence programs. Analyse patient data to identify factors affecting medication adherence, personalise interventions, and improve patient outcomes.
Health Outcomes Research
Conduct health outcomes research using data analytics to assess the real-world impact of pharmaceutical interventions. This can provide insights into treatment effectiveness and economic outcomes
Supply Chain Management
Implement data analytics to optimise the pharmaceutical supply chain. This includes demand forecasting, inventory management, and logistics optimization to ensure a seamless and cost-effective supply chain.
Solutions
This BI solution for the pharma industry involved gathering and integrating data from various sources, including Veeva Open Data, Symphony Health Data, American Hospital Association, and internal company data. Innovatics implemented a technology stack that included Google Analytics, SQL, Tableau for HQ reports, MSTR for field reports, Python, Amazon S3, and Amazon Redshift.
Applications
- KPI tracking across geographies.
- Forecast achievement alert.
- Top/Bottom Performers (Account and Physician level).
- Hierarchical analysis to view team/own performance.
- Website performance for customer engagement.
- Email channel and Speaker Program tracking.
- Cross-channel performance analysis.
- Physician engagement details and affiliations.
Benefits
- Quick and easy sales performance tracking.
- Cross-channel performance analysis to identify key performing channels.
- Detailed report for daily/weekly task tracking.
- Aid to finance team for better budget allocation.
- Website performance to improve engagement and conversions.
ROI (Return On Investment)
Innovatics successfully helped the company jump in the new markets by giving them an end to end big data backup and a strong yet fully automated pharmaceutical analytics solution. This performance tracking BI solution for pharma comprises Field Employees Dashboard and HeadQuarters (HQ) Dashboard which were successfully able to track product performance on multiple hierarchical levels. Giving the user relatable information so as they can identify areas where resource deployment is required.
We have created a fully automated process (Multiple Data Sources ->S3 -> Redshift -> Tableau/MSTR -> QC Report/Alerts) that helps the operations department to reduce weekly man hours by 67%.
Weekly tracking helps catch underperforming areas quick
Report view highlights accurate performance to make the right strategic decision.
TAT for report updates has been reduced to T+1 day(s) from T+3 day(s).
Optimised website performance by tracking website engagement.
Channel wise performance tracking along with cross-channel analysis in a single dashboard.
Physician level grain for tracking engagements, interactions and prescriptions via different channels.
Single platform to track KPIs with account-physician and physician-account relationship.
2 years of data on the dashboard and 5 years of data in master data management with email subscriptions reduces significant time and effort of the leadership team to extract daily updates. New system reduces the exact time by 90% compared to traditional setups.
Technology Stack & Softwares
