Optimizing Life Science Analytical Solutions – Part 2
Analytical Solutions are ultimately about improving business performance. If your solution is underutilized, chances are it isn’t useful enough. In our previous blog, we discussed some ways to substantially improve analytics performance for Life Science, including:
- Building the solution around the business process
- Providing actionable, not academic, information to your sales staff
In this blog, we’ll examine more ways that can significantly boost business performance with analytics.
Choose an Analytics Solution Configured to Your Industry and Method
One-size-fits-all, enterprise-wide BI systems may please the IT and Finance departments. However, they can take a lot of effort to customize to your unique needs, changing requirements and ongoing support. For example, many companies underestimate what it takes to manage weekly (and sometimes even daily) pharmaceutical data processing requirements, as they lack the expertise in house. The data can be very complicated and nuanced. Even a territory alignment update can throw things off.
By utilizing a pre-configured, cloud-based solution, a tremendous amount of time is saved up-front, as best practices, such as KPIs, are already built-in. Utilizing an experienced vendor with the domain expertise of knowing the business process and related analytical questions saves time and significantly increases the value you receive.
Be Agile and Adaptable to Change
It’s a fact of life. Your competitor launches a new product or gets a formulary status change. Or, you may decide to co-promote a product or launch a new drug. Nothing is ever static and each of these changes requires updating your analytics solution to support them. The key to success is quickly adapting the solution to these changes, while understanding the implications well enough to provide a well-honed design.
By following these techniques and tracking analytics usage on a regular basis, you will be able to see how much value your analytics solution and team is bringing to the commercial organization. In fact, by implementing these methods, we’ve seen dramatic increases in Field utilization (from <20% to 85%!), and even more importantly, greater efficiency, increased sales and improved overall satisfaction.