The life sciences industry faces significant data challenges. The problems don’t lie in the lack of information. In fact, the industry has invested millions of dollars into data for insights, including pharma commercial analytics. Commercial teams thrive with data-driven decision-making. However, the overwhelming amount of data available has actually become counterproductive to the users that need it the most. Traditional analytics dashboards can’t keep up with growing data volumes, leaving commercial teams to search through a cascade of screens, each with a part of the analysis, to try to find the answers they need.
Additionally, analytics dashboards require data and IT expertise to build and use, skills that sales reps, marketers, and other members of the commercial team typically don’t have. Therefore, commercial teams have to request help from their IT teams. It often takes weeks to build dashboards, create visualizations, and break down insights into language commercial teams can easily understand. Unfortunately, those weeks can mean that sales reps miss opportunities, the root cause of downward trends remains a mystery, and the company’s bottom line doesn’t improve.
Enter augmented analytics, an approach that readily offers access to data insights, no matter the user’s data skill level. The concept steps away from the dashboard as the unit of work and replaces it with a question. Augmented analytics platforms simply require users to query the platform conversationally to receive the information they need.
Making Pharma Commercial Analytics Easily Accessible
The reason leading augmented analytics platforms can deliver pharma commercial analytics quickly and easily is artificial intelligence (AI). Combining various forms of AI, the platform can understand human language, analyze data rapidly, and deliver insights with minimal friction. Deep learning enables developers to train the platform to understand users, analyze data necessary to answer their questions, and deliver reliable, accurate responses.
Pharma companies should keep in mind that pre-training for their industry is essential. AI models only know what they’re trained to know. So, it’s vital that the platform understands terms, abbreviations, names of data sources, and other languages unique to life sciences to make it most user-friendly. It allows a sales rep can ask for prescription data, changes in claims, or comparisons with competitors and receive insights on the spot.
AI also gives the platform speed. WhizAI, for example, can analyze billions of data points and provide insights in less than a second. For teams that are used to waiting weeks for information, AI provides a positive change.
The Advantages of Pharma Commercial Analytics
AI-powered analytics and platforms designed for the augmented life science analytics consumer offer pharmaceutical companies a different perspective on data and how their teams could benefit from it on a daily basis. However, it can also have far-reaching effects on an entire organization, including:
- Access Analytics Anytime and Anywhere: Embedding pharma commercial analytics into business applications that teams currently use, such as Salesforce and Microsoft Teams, makes analytics accessible with just a click. Additionally, enabling access from mobile devices as well as PCs and laptops gives commercial teams the ability to access data-based insights before a meeting with a physician, while working remotely, or during a call.
- Increased User Adoption: Gartner research found that 60% of employees find software frustrating, and 40% resist using applications after negative experiences. With a user-friendly platform that provides real value, however, adoption increases. WhizAI has seen adoption as high as 100% among companies that have implemented its platform.
- Make Quicker, Data-Driven Business Decisions: All departments across an organization use the same platform, promoting consistency and collaboration between teams. Using centralized pharma commercial analytics, teams make informed decisions and enhance brand performance.
- Decrease Total Cost of Ownership (TCO): Advanced analytics pretrained for life sciences reduces implementation from weeks to days and significantly decreases support and maintenance costs.
Insights at Speed
With life science, data available to virtually all companies in the pharmaceutical industry, how they use that data will become the competitive differentiator. WhizAI The right platform provides pharma commercial analytics in seconds, anytime it’s needed. Additionally, when users see its value, they’ll enthusiastically adopt it and make data-driven decisions that enhance their performance. Those capabilities can make a difference in sales, market share, and patient outcomes. Pharma commercial analytics designed for users without data expertise provide insights quickly to sales reps and other team members who need them most.
Lucy Adam