Jack of all Trades BI Solutions: Are They Pharma’s Knights in Shining Armors?
Wouldn’t we all like to find that there really is a knight in shining armor coming to redeem us from our painfully chaotic Pharma data reality…?
Sometimes it even seems we found him – all dressed in his BI solution attire, giving a promise for a unified repository of analytics and reporting, all wrapped up in one beautifully visualized solution for all your data troubles.
Could that really be true?
Can general BI software tools really offer the deep domain expertise needed to boost commercial operations and generate real value and meaning for Pharma executives?
Perhaps. Either way, it’s certainly worth examining. Let’s take a look at what we really need to get a highly tailored BI tool to meet commercial operations’ analytics needs:
- A strong understanding of the Pharma’s logic, methodologies, techniques, industry standards; in short- an understanding of real Pharma life behavior.
- Understanding of the business’ various data sets, user systems (CRM), metrics, etc.
- Taking under consideration the variety of roles and responsibilities in order to personalize the BI tool for each user’s needs.
- Piecing together relevant data and reporting in a way that brings actual value to the business.
Trouble is, even if we do find this BI knight in shining armor, the tedious journey of implementing such a solution could take up to 18 months (and that’s provided that everything goes well). This process consumes tremendous utilization of IT skills and time, BI developer skills, business users’, analysts’ and executives’ time, and a continuous on-going maintenance activity.
The reality is, knights in shining armor don’t exist, at least when it comes to Pharma analytics. Trying to manage the challenge of data analytics in Pharma with general BI software tools that promise end-to-end capabilities, often leads to working with multiple vendors, while dealing with integration and a tedious implementation journey.
When it comes to Pharma analytics, such general BI software tools usually offer data warehousing and data management, but claim to also master the trade of data visualization and tailored insights to suit your business needs. However, in the end, this promised end-to-end solution only leaves you with a tool that is time consuming, expensive, and most importantly, not efficient when it comes to boosting your commercial operations.
You just can’t be Jack of all Trades when it comes to Pharma analytics; on the contrary – you need a dedicated analytics solution to suit the Pharma industry at large, and commercial operations in particular.
A master in the Pharma trade, a dedicated pre-configured solution to answer data analytics challenges in Pharma, has numerous vital advantages over general BI software tools:
- Pre-built. A set of prepackaged applications that is designed to match data with business processes and real pharma life behavior, leads to a much shorter average implementation time of 3 months to deployment!
- Deep Domain Expertise. Already road-tested and supported by the industry’s experts, this solution has the market ‘know-how’ of challenges embedded within its apps, such as data sources integration and commercial operations efficiency related KPIs.
- Software-as-a-Service. Being cloud-based and agile means user change requests take hours, not weeks. And so, there is no need to worry about BI infrastructure concerns.
- Lower Total Cost of Ownership. No need to learn, build and maintain a solution from scratch, which means considerably reduced implementation time and costs.
- Data, any data, Pharma related or not, is eventually just a binary flow of details. What we make of it, the value we produce by processing and analyzing it – that’s where it is essential to work with a dedicated Pharma analytics solution.
In the end, Jack of all Trades solutions often lead to being a master of none. It might just be that the knight in shining armor in Pharma analytics, is exactly that master of one trade, perhaps less shiny, but a knight nevertheless.