Powering Commercial Effectiveness Through Big Data and Analytics
Big Data is commercial dynamite for pharma – how can you unleash its power?
Big Data is here to stay. Not just a fad, it’s fundamentally changing the way pharma companies operate and providing a route to better commercial results. What are the key challenges and opportunities? %li%What does best practice look like? Ultimately, how can the commercial benefits of Big Data be realised?
Powering Commercial Effectiveness Through Big Data and Analytics explores how Big Data is evolving beyond the patient experience and coming of age. Read it to hear from 11 experts at the forefront of pharma’s data revolution.
“Data alone has little value. It is the insight we glean from analysing it. Pharma has no chance of making money without making cases for change, defining burden or proving effectiveness in the real world. It simply cannot do these things without first connecting data for analysis.
Hassan Chaudhury, Chief Commercial Officer, Health iQ
Top Takeaways and Answering key questions:
Content Highlights
FirstWord is an innovative industry intelligence leader serving over 240,000 Pharma and MedTech professionals worldwide. FirstWord offers a range of products and services designed to help your company gain a competitive edge by making key business decisions with speed and confidence.
FirstWord Pharma PLUS is a personalised and comprehensive intelligence service delivering up-to-the-minute pharma news, insight, analysis and expert views of importance to your company’s success.
FirstWord Reports deliver timely, need-to-know intelligence about your products, your competitors and your markets. Covering biosimilars, market access, medical affairs, sales & marketing, technology and therapy areas, FirstWord Reports provide expert views and intelligence on the challenges facing pharma today.
Big Data is here to stay. Not just a fad, it’s fundamentally changing the way pharma companies operate and providing a route to better commercial results. What are the key challenges and opportunities? %li%What does best practice look like? Ultimately, how can the commercial benefits of Big Data be realised?
Powering Commercial Effectiveness Through Big Data and Analytics explores how Big Data is evolving beyond the patient experience and coming of age. Read it to hear from 11 experts at the forefront of pharma’s data revolution.
“Data alone has little value. It is the insight we glean from analysing it. Pharma has no chance of making money without making cases for change, defining burden or proving effectiveness in the real world. It simply cannot do these things without first connecting data for analysis.
Hassan Chaudhury, Chief Commercial Officer, Health iQ
Top Takeaways and Answering key questions:
- Perfect partnerships: How important are partners in the long-term? Are the most productive collaborations internal and cross-functional or external and specialist?
- The face of Big Data: What blend of skills and technological tools are needed? Does leveraging Big Data demand a departmental focus or a company-wide cultural shift?
- Speed, agility, credibility: Are you responding fast enough to gain an advantage through Big Data insights? Is integration an issue? How robust are the patterns modelled and insights derived?
- Balancing act: How should pharma seek to apportion investment for optimum impact? Should data architecture or data talent/analytics be the priority?
- Where next? There is plenty that’s new and exciting. Wearables, social media, data-sharing, Internet of Things, real world data. What has commercial potential and what is simply ‘noise’?
- Brad Ashby: Director of Commercial Operations, Kaléo Pharmaceuticals
- Blanca Rosales Baez: Executive Advisor – Business Development Big Data Analytics for Precision Medicine, Molecular Health GmbH
- Peter Barschdorff: Vice President of Business Insights at Bayer: Market Research, Commercial Analytics and Commercial Reporting (Quotes attributed to him are his personal opinion and do not in any way represent Bayer Pharmaceuticals’ opinions or business practices)
- Hassan Chaudhury: Chief Commercial Officer, Health iQ
- David Latshaw II: Scientist at The Janssen Pharmaceutical Companies of Johnson & Johnson
- Manish Mathur: Senior Director, Data Strategy and Management for Commercial Excellence, at Janssen Pharmaceuticals, of Johnson & Johnson (Views made in this report are his personal opinion and are not intended to represent the views of Johnson & Johnson)
- Irina Osovskaya: Global Director of Mobile and Customer Experience Strategy at AstraZeneca
- Anders Quitzau: Innovation Executive, Watson Advocate
- Ian Talmage: Senior Vice President, Global Marketing at Bayer Pharmaceuticals
- John Michael Veik: Large Enterprise Sales, IBM
- Anonymous: The personal (non-Agency) opinion of a recent FDA employee
Content Highlights
- The growing power of Big Data over pharma’s commercial future
- The commercial potential of Big Data and analytics
- Key insights
- A wealth of information available
- Sub-segmenting patients based on genomics and personalised medicine
- Segmenting physicians, key opinion leaders and payers
- Deep learning about customer experience
- Informing R&D, regulatory compliance and market access
- SWOT analysis of Big Data techniques
- Modelling and simulation: extracting business insight for commercial excellence from Big Data
- Key insights
- Appropriate modelling essential
- Data types needed to improve aspects of commercial excellence
- Real-world data
- Data about a more accurate market share
- Data sharing for better decision-making in the field
- Data about the patient experience
- Harmonising data from multiple sources
- The tools to use: from knowing which data to use to actioning insights
- From insight to competitive advantage: the human factor
- From insight to customer-centricity to increased sales
- Structural changes to accommodate Big Data
- Key insights
- Get your house in order
- New capabilities and positions
- A culture of data and innovation
- Data-based training methods
- Best future opportunities for the use of Big Data in commercial excellence
- Key insights
- The Internet of Things
- Targeted customer messages
- Precision medicine and personalised patient programmes
- Payer orientation for improved market access
- Improved physician engagement
- Driving patient adherence
- Overcoming the greatest challenges in Big Data
- Key insights
- Uniformity of data language
- Data in disparate locations
- Magnitude and credibility of data
- Data privacy and security implications
- The next five years of Big Data
- Key insights
- Machine learning and scaling data
- Investments and partnerships in pharma
- Security and compliance
- Conclusion
FirstWord is an innovative industry intelligence leader serving over 240,000 Pharma and MedTech professionals worldwide. FirstWord offers a range of products and services designed to help your company gain a competitive edge by making key business decisions with speed and confidence.
FirstWord Pharma PLUS is a personalised and comprehensive intelligence service delivering up-to-the-minute pharma news, insight, analysis and expert views of importance to your company’s success.
FirstWord Reports deliver timely, need-to-know intelligence about your products, your competitors and your markets. Covering biosimilars, market access, medical affairs, sales & marketing, technology and therapy areas, FirstWord Reports provide expert views and intelligence on the challenges facing pharma today.
1.EXECUTIVE SUMMARY
2.RESEARCH OBJECTIVES
3.RESEARCH METHODOLOGY
4.EXPERTS INTERVIEWED
5.DEFINITIONS
6.THE GROWING POWER OF BIG DATA OVER PHARMA’S COMMERCIAL FUTURE
7.THE COMMERCIAL POTENTIAL OF BIG DATA AND ANALYTICS
7.1 Key insights
7.2 A wealth of information available
7.2.1 Sub-segmenting patients based on genomics and personalised medicine
7.2.2 Segmenting physicians, key opinion leaders and payers
7.2.3 Deep learning about customer experience
7.2.4 Informing R&D, regulatory compliance and market access
7.3 SWOT analysis of Big Data techniques
7.3.1 Strengths
7.3.2 Weaknesses
7.3.3 Opportunities
7.3.4 Threats
8. MODELLING AND SIMULATION: EXTRACTING BUSINESS INSIGHT FOR COMMERCIAL
excellence from Big Data
8.1 Key insights
8.2 Appropriate modelling essential
8.3 Data types needed to improve aspects of commercial excellence
8.3.1 Real-world data
8.3.2 Data about a more accurate market share
8.3.3 Data sharing for better decision-making in the field
8.3.4 Data about the patient experience
8.4 Harmonising data from multiple sources
8.5 The tools to use: from knowing which data to use to actioning insights
8.6 From insight to competitive advantage: the human factor
8.7 From insight to customer-centricity to increased sales
9. STRUCTURAL CHANGES TO ACCOMMODATE BIG DATA
9.1 Key insights
9.2 Get your house in order
9.3 New capabilities and positions
9.4 A culture of data and innovation
9.5 Data-based training methods
10. BEST FUTURE OPPORTUNITIES FOR THE USE OF BIG DATA IN COMMERCIAL
excellence
10.1 Key insights
10.2 The Internet of Things
10.3 Targeted customer messages
10.4 Precision medicine and personalised patient programmes
10.5 Payer orientation for improved market access
10.6 Improved physician engagement
10.7 Driving patient adherence
11. OVERCOMING THE GREATEST CHALLENGES IN BIG DATA
11.1 Key insights
11.2 Uniformity of data language
11.3 Data in disparate locations
11.4 Magnitude and credibility of data
11.5 Data privacy and security implications
12. THE NEXT FIVE YEARS OF BIG DATA
12.1 Key insights
12.2 Machine learning and scaling data
12.3 Investments and partnerships in pharma
12.4 Security and compliance
13. CONCLUSION
14. APPENDIX: EXPERTS INTERVIEWED
2.RESEARCH OBJECTIVES
3.RESEARCH METHODOLOGY
4.EXPERTS INTERVIEWED
5.DEFINITIONS
6.THE GROWING POWER OF BIG DATA OVER PHARMA’S COMMERCIAL FUTURE
7.THE COMMERCIAL POTENTIAL OF BIG DATA AND ANALYTICS
7.1 Key insights
7.2 A wealth of information available
7.2.1 Sub-segmenting patients based on genomics and personalised medicine
7.2.2 Segmenting physicians, key opinion leaders and payers
7.2.3 Deep learning about customer experience
7.2.4 Informing R&D, regulatory compliance and market access
7.3 SWOT analysis of Big Data techniques
7.3.1 Strengths
7.3.2 Weaknesses
7.3.3 Opportunities
7.3.4 Threats
8. MODELLING AND SIMULATION: EXTRACTING BUSINESS INSIGHT FOR COMMERCIAL
excellence from Big Data
8.1 Key insights
8.2 Appropriate modelling essential
8.3 Data types needed to improve aspects of commercial excellence
8.3.1 Real-world data
8.3.2 Data about a more accurate market share
8.3.3 Data sharing for better decision-making in the field
8.3.4 Data about the patient experience
8.4 Harmonising data from multiple sources
8.5 The tools to use: from knowing which data to use to actioning insights
8.6 From insight to competitive advantage: the human factor
8.7 From insight to customer-centricity to increased sales
9. STRUCTURAL CHANGES TO ACCOMMODATE BIG DATA
9.1 Key insights
9.2 Get your house in order
9.3 New capabilities and positions
9.4 A culture of data and innovation
9.5 Data-based training methods
10. BEST FUTURE OPPORTUNITIES FOR THE USE OF BIG DATA IN COMMERCIAL
excellence
10.1 Key insights
10.2 The Internet of Things
10.3 Targeted customer messages
10.4 Precision medicine and personalised patient programmes
10.5 Payer orientation for improved market access
10.6 Improved physician engagement
10.7 Driving patient adherence
11. OVERCOMING THE GREATEST CHALLENGES IN BIG DATA
11.1 Key insights
11.2 Uniformity of data language
11.3 Data in disparate locations
11.4 Magnitude and credibility of data
11.5 Data privacy and security implications
12. THE NEXT FIVE YEARS OF BIG DATA
12.1 Key insights
12.2 Machine learning and scaling data
12.3 Investments and partnerships in pharma
12.4 Security and compliance
13. CONCLUSION
14. APPENDIX: EXPERTS INTERVIEWED
