Business Intelligence for Pharmaceutical
Today's pharmaceutical companies are large and complex with a critical need for information and data. Data crosses the enterprise in the form of research and development, regulatory compliance requirements, test data, drug contraindications, side effects, clinical trials, ingredients and dosage information, doctor and patient information and more.
The cost to develop and sell a pharmaceutical product is very high and, if risk is not mitigated, the cost of non-compliance or critical performance problems can be even higher! Whether your enterprise sells prescription or non-prescription drugs or other pharmaceutical products, your business needs to process a large volume of information. To make this information meaningful and usable, it must be integrated with data from all other enterprise systems and reported in a way that will support business decisions and make it easy for the business user to quickly analyse issues and stay abreast of the latest developments and problems.
Developing a pharmaceutical product for sale involves human resource allocation and skills and knowledge management, the expense of managing the patients and practitioners involved in clinical trials and a protracted time to market with the need for constant data management and analysis. Test data may cross geographical and cultural boundaries, and require data analysis and communication in various languages and across multiple enterprise systems and platforms. Once a drug or pharmaceutical product has been tested, the enterprise must obtain approval from regulatory agencies and work within strict parameters with little margin for error.
KPI / Analytics for Pharma Industry
True
business intelligence (BI) can support, grow and ensure the success of the pharmaceutical enterprise and simplify the process of managing product releases and product support as well as financials, sales, pricing, customer and provider information, market research and much more.
- Clinical Data Analysis - Clinical data analysis helps the enterprise to evaluate and streamline voluminous data and filter, sort and rank this information to analyse trends, irregularity, and risk during product development and launch.
- Establish and Monitor Quality and Risk - With Business Intelligence Software, ElegantJ BI, the enterprise can establish key performance indicators (KPIs) and quality define matrices and monitor the results and targets with summary and detailed reporting to quickly assimilate information and determine the root cause of a quality issue. Personalised, automated alerts allow users to receive immediate notification of a quality issue and to take swift corrective action to ensure that the enterprise can mitigate risk and manage performance.
- Marketing and Sales Analysis - Marketing and sales analysis enables the user to identify the most profitable product and allocation of marketing and sales funding and resources. The user can analyse consumer buying behavior, marketing campaigns, sales performance against targets at various levels, prescription renewal and product purchases.
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- Financial and Operational Performance Management - Financial and Operational Performance Management and Analysis enables financial performance and allows the organisation to establish and meet goals and track progress. Executives and managers can monitor the financial health of the organisation and create and share reports to comply with government and industry regulations.
- Profitability Management - Profitability management and analysis helps users to evaluate short-term and long-term risk trends and forecast profitability with dependable data.
Aumento BI Implementation for Pharmaceuticals - Benefits at a Glance
- Simplifies product planning and pricing analysis.
- Ensures accurate, up-to-date financial analysis.
- Enables operational analysis to reduce costs and optimise operations, resources and funding.
- Establish quality matrices and monitor results with automated alert delivery, to identify risks and take immediate corrective action.
- Ensures regulatory compliance and provides accurate, intuitive reporting.
- Enables confident, timely decisions on failing leads and ensures that the enterprise will focus efforts and resources on appropriate potential leads .
- Enforces accountability and allows the enterprise to cascade strategy, operational goals and objectives and other plans across the enterprise.
- Provides a simple, intuitive interface that business users can leverage to perform tasks and fulfill their prescribed role.
- Controls budgeting and allocates resources optimally across projects.
- Monitors and analyses patient profiles for various parameters of drug efficacy.
- Provides scalability to handle complex and large data elements in different data schemes spread over a wide geographic distribution for risk recognition and trend analysis.
- Integrates statistical libraries.
- Monitors, analyses and provides key performance indicators (KPIs) on sales by product, region, distributor or sales representative using personalised BI dashboards and intuitive business intelligence reports.
- Provides the support to eliminate the use of complex, error-ridden spreadsheets in favor of highly intelligent BI dashboards and business intelligence reports with graphical and drill down capability.
- Provides a tracking system for monitoring research and development (R&D), in a clear, concise BI dashboard presentation, .
- Offers detailed business intelligence reporting for regulatory compliance and an overview of market scenarios and allows users to accurately forecast and predict results and trends .
- Balance the risk involved with business and growth while maintaining regulatory compliance.
- Leverage investments in existing resources and infrastructure by integrating data from existing sources.
- Produce BI Reports for management on performance, customer demographics and other factors.
- Analyse and act on customer business intelligence for promotional activities, marketing campaigns and plans.
- Provide a 360° view of customer profiles, regulation, product testing and approval, products, services, regions, sales, marketing and other information
- Assess all aspects of organisation performance, e.g., income, profit, customer satisfaction, flexibility, transformation and growth
