iCast Analytic Solutions
Life Sciences executives can analyze the new trends in business operations with the benefits of iCast analytics. This also allows a person to gain the maximum insights of operational performance. Rather it also allows you to track the critical business ratios; key performance indicators so that you can get a thorough check the organizational efficiency.
This allows getting solutions to the Life Sciences Companies to complex issues Like-
♦ Is my pricing can meet the customer satisfaction?
♦ Are we able to compete with the revenue growth in the market?
♦ Are the outsourcing aspects of R&D are required?
♦ Which of the regions/ the departments are outstanding in their performance?
With these points management can make key decisions so that none of the departments are disappointed due to the false consensus.
This provides an equipped platform for life sciences companies with vast volumes of information, to make more intelligent decisions and link top-level strategies with departmental plans.
With these Life Sciences Companies can:
♦ Gain a complete knowledge in the process of clinical development
♦ Performance monitoring of the key process
♦ Integrate and executing the plans and to minimize the budgets
♦ Aggregate customer, channel, and product data for a single view of sales volume and to drive more targeted deployment
♦ Enable driver-based planning to make better decisions about resource allocations, such as marketing programs, advertising, and samples
♦ Improve contracting effectiveness through better planning and analysis of key performance indicators (KPIs), historical performance and scenario analysis
♦ Structure data and reporting to comply with HIPAA, CFR 21, PDMA, state marketing regulations and FDA NDA processes
Why are these implemented in Life Sciences Company?
Life sciences Industries are facing problems like patent expiration, revenue loss due to the unwanted production of the drugs which are not required in that particular season/area etc.. Not only these they are also facing problems with managing complex, people-intensive processes, and the inadequate supply of tools etc.
There are two important things which have to be managed by the Life Sciences industry to improve clinical research and development, production and distribution. These include
♦ Improved ability to manage the required things
♦ Performance monitoring across the organization
Hence, Life Sciences Company needs an organizational setup in managing drug development processes and then tracking and understanding the results.
To meet all these requirements smarter systems are needed to help life sciences companies segment and serve a diverse customer base, proactively gathering and analyzing information to develop a deeper understanding of each segment’s specific needs.
How to align your strategies and actions?
An organization needs to track and analyze the revenue which includes identifying the best performing medical rep, comparing the effectiveness of marketing campaigns, executing a pathway to strengthen the link between strategy and frontline execution operations. These are clearly analyzed by this software.
Difference between Enterprise planning and iCast Analytics
Enterprise planning helps you to understand the brand performance in the following way:
Drives sales and marketing performance, enterprise score carding monitors progress against your plan and enterprise business intelligence (BI) lets you report, analyze and understand its performance.
|iCast analytics provides you an opportunity to build your own planning, budgeting and reporting activities. These can be viewed in iCast Performance Blueprints, which can be delivered out-of-the-box functionality for managing sales and marketing effectiveness.|
iCast Analytics provides you the following key points to manage the following-
♦ To manage the budgets more effectively- This provides a combined view of marketing budgets at all the levels which include- department, project or territorial expense. With this, you can clearly analyze where you are going wrong in your plan with clear, accurate information without facing any difficulties. This makes you so confident in predicting the future development.
♦ Streamlining the sales process-This software helps you to concentrate the specific areas where the sales marketing is strong and where it is weak. It also gives you the information whether the sales cost should be minimized and resource allocation should be increased. This software provides you a performance blueprint so that the total sales can be tracked and performance can be analyzed easily.
♦ Setting goals and priorities using a scorecard- It helps to provide score carding at a time/ all the time to all the employees. Also helps in sharing the information.
♦ Gives alerts- It also helps is alerting you if anything goes wrong in the process side etc. For example, it alerts you if the purchase rate is going high than the investment.
♦ Decision-making process- It provides an opportunity by enabling the users to evaluate financial status across countries, currencies and legal entities. It also helps to assess how the results change over the time over regions, across product lines etc.
♦ Provides an opportunity to identify the best revenue opportunities- It helps you to find out drug performance in the market i.e., which drug is preferred by most of the doctors in different regions and also purchase patterns, revenue growth etc.
iCast analytics provides best solution for
♦ Leverage clinical analytics-Improving operational efficiency
♦ Tracking the usage of drugs at national level-it becomes easy to understand the important drug samples. Also helps in minimizing the drug returns.
♦ To maximize the return of your investment- iCast Sample Optimization Performance Blueprint helps in this aspect.
♦ Organizing the supply chain- It provides clear information on product safety and in regulatory issues.
Analyzing business operations:
iCast analytics benefits a pharmaceutical company to stand in the top-most positions by adding the valued points such as-
♦ It improves drug development
♦ Increases operations performance
♦ Drives revenue and market share
♦ Complying with regulatory requirements
♦ Comparing the results of informed decisions
♦ Helps to meet the market demands as this software acts accordingly to the change in market demands.
iCast analytics solution helps life sciences and pharma companies to gain complete information about comprehensive insights across applications and data sources to better manage today’s increasingly complex information infrastructure. This leads to correct planning, and improvement in financial and operational procedures.