Analyzing market research information without consultancy for the Pharma industry
CLIENT: A PHARMACEUTICAL COMPANY
USE CASE: IMS HEALTH DATA ANALYSIS
A predominant pharmaceutical firm has its business footprint in +50 countries with 800+ brands, 21 manufacturing units, and a strong workforce of +14,500 employees worldwide. The Pharma giant is also known for its unchallenged dominance in the anti-infective segment for over a decade.
It has consistently been ranked among the top ten pharmaceutical companies in India. In order to remain positioned at the top, the pharma business closely evaluates its monthly market share performance for all its brands.
Recognizing the Time Lag in Market Evaluation
The multi-national pharma giant relies on IMS health data to gauge the effectiveness of their sales resources and finetune their marketing strategies. Every month the company gets its hands on large datasets in the form of excel workbooks. The voluminous data is manually processed and restructured by the analyst team for further interpretation and reporting. This wearying manual method of data cleaning proved to increase the time lag of report analysis and generation by at least a week, affecting all other subsequent activities.
Additionally, manually generating thousands of personalized and extensive reports for the entire sales strength of +8000 med reps was an effort-demanding process. This traditional reporting system failed to highlight any outliers and anomalies, emerging trends, and valuable insights from the data.
Key Problems Identified:
- Excess time wastage in data tidying and structuring.
- Unavailability of personalized reports across various hierarchies.
- Complex reporting style hindering data understandability and consumption.
- Difficulty in interpreting data and recognizing hidden trends and insights.
Agile Reporting system to deliver Applicable Insights
The pharma giant turned to vPhrase’s Phrazor platform to accelerate the process of personalized reporting that could be easily understood by their entire sales team irrespective of their position and expertise.
- Phrazor enabled the analyst team to replace their manual reporting process with seamless automation. They could now produce simple, easy to comprehend reports using natural language generation technology.
- Using Phrazor, the analyst team produced comprehensive reports with dynamic commentaries for approx. 8000 employees. These reports could easily be personalized depending on the recipient’s requirements.
- The generated reports consisted of a detailed competitive analysis for high contributing brands. It also focused on other average and non-performing brands to keep a track of hidden trends and factors. Additionally, the reports also contained recommendations forecasting future actions based on predictive analytics.
- With Phrazor, the company could also identify top-performing and non-performing regions as per monthly targets and sales activities. This enabled them to build healthy competition among the regions. The decision-making team could also evaluate the performance of the regions based on division efforts. Efforts were evaluated in terms of no. of doctors visited, no. of doctors approached on-call.
- The reports were made easily accessible to the sales team with multiple sharing options on WhatsApp, ppts, pdfs, email newsletters, etc.
How the leading Pharma company leveraged the natural language generation platform, PHRAZOR?
- Auto-created comprehensive personalized reports at the speed of thought.
- Increased data literacy and understandability amongst the sales team.
- Aided well-informed decision-making capabilities based on in-depth competitor analysis.
- Significant reduction in manual efforts ensuring consistent reporting of key business metrics.
- Drastic timeline change in the reporting process, from 2 weeks to 3 days.
Generated annually. 9 category and brand reports generated for individual states
Of manual effort saved in report analysis
Time expedited for monthly report generation