Dec 11 2015
In the pharmaceutical industry, different business units (BUs) may be sourcing data from a shared database or a data warehouse, but the data for each unit is set up distinctly to suit the needs of separate functions. So when during corporate presentations or meetings, aggregated data from all BUs are pulled in, a powerful BI system can utilize dashboards in a manner so as to deliver several benefits to the users, as discussed below. You can read how AMDDATAWIZ delivers data visualization solutions to the pharmaceutical industry here: Pharmaceuticals.
A BI system can collate data from disintegrated systems across a pharmaceutical company and prepare the data on a dashboard for visualization and further analysis. Such data may be collected from CRM, ERP, HR, marketing, sales, or other functions in the company. This type of consolidated data view can aid collaborative analysis and driving insights for critical decision making. During corporate meetings, the executives can use pharmaceutical dashboards to quickly review the sales trends, marketing effectiveness, and performance data across regions to make informed decisions and target performance goals.
While the top executives in pharmaceutical companies may be traveling around the country or the globe, they can remain connected and in control of their data through their smart devices or laptops. At a moment’s notice, any CEO or CFO can quickly glean the performance scorecards or profit trends before making an announcement or speech. With severe regulatory pressures, the top executives constantly require real-time performance data on finance, sales, HR, R&D, or clinical trials. The dashboards make it possible to flash instant performance data that is clear, reliable, and visually rich.
It is common knowledge that the drug-testing processes involve highly complex and expensive clinical trials, which exhaust both manual labor and business resources. Thus, superior data-management systems can ensure that such complicated drug-testing phases are concluded easily. The clinical trials staff need to review test data to determine outcomes and compare the results for accuracy and uniformity across other similar trials. Moreover, the test data may be shared with other stakeholders and regulatory bodies from time to time. Thus pharmaceutical dashboards play a major role in ensuring timeliness and economy in clinical trials without compromising the high regulatory standards of accuracy and uniformity.
The qualitative and quantitative feedback from the sales teams can provide valuable cue for measuring complaint levels, customer loyalty, or sales-training requirements. Thus the measurement metrics displayed on dashboards can greatly enhance the sales force management process.
The presentation of KPIs can help provide business justification to key stakeholders. Additionally, customer satisfaction plays a critical role in maintaining a pharmaceutical company’s success. Thus, dashboards can be used to view and compare region-wise KPIs and customer response data for measuring and managing brand loyalty for specific drugs.
Dashboards can be effectively used to share a company’s social engagements, public service, CSR achievements, and other efforts to enhance the company’s image to the human society.
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