Business Intelligence in the Pharmaceutical Market: Growth Drivers, Key Organizational Priorities, and Vendor Strategies for Future Growth06 Oct 2010 • by Natalie Aster
LONDON – MarketPublishers Ltd announces that new report “Business Intelligence in the Pharmaceutical Market: Growth drivers, key organizational priorities, and vendor strategies for future growth" elaborated by Business Insights is available in its catalogue.
This market research report gives coverage of the BI market in the pharmaceutical sector, including major market statistics as its size and growth, followed by the current trends of BI technologies and adoption of BI tools across key pharmaceutical processes. It gives an insight into the competitive situation and discusses various key players in the BI market, their product offerings and growth strategies. In addition to the BI supply perspective, this report assesses the state of the BI market from the demand viewpoint. Demand perspective analysis investigates the uptake of BI in the pharmaceutical sector, investments in current BI use, and planned future use.
Title: Business Intelligence in the Pharmaceutical Market: Growth drivers, key organizational priorities, and vendor strategies for future growth
Published: May, 2010
Report Sample Abstract on Transition of the Pharmaceutical Sales and Marketing Model Through Predictive Analytics
Driven partly by economic recession, predictive analytics is becoming increasingly popular as the need for more accurate forecasts and optimized business processes arise. IBM’s acquisition of SPSS in 2009 will further the potential of predictive analytics with new industry-focused solutions such as:
At the same time, many pure-play BI vendors such as Information Builders, TIBCO Spotfire, and MicroStrategy also introduced predictive analytic models and forecasting capabilities in their BI tools. Between 2010 and 2011, the BI market will be driven by embedded analytic and predictive capabilities to determine trends, risks, and opportunities, which were not possible with historical reporting.
Cost containment issues and falling productivity are putting pressures on the pharmaceutical industry’s traditional sales and distribution model involving huge promotional budgets and assertive sales forces. This requires pharmaceutical companies to restructure their sales and marketing operations to determine the impact of promotional activities on sales in real-time in order to remain competitive. Predictive analytics helps companies to manage this transition in the pharmaceutical industry and helps companies to understand physician behavior and attain cost effective sales and marketing efforts.
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