Advanced analytics fuel tomorrow’s commercial strategy for drugs and devices

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Advanced analytics in the pharmaceutical and life sciences industry – including tools such as artificial intelligence, machine learning and data mining – has the potential to transform the pharma commercial function. Process automation and data-driven predictive insights have the ability to dramatically change how executives make strategic decisions and manage financial performance across all commercial areas. While some organizations have begun to advance their analytic capabilities, the level of sophistication varies substantially from one company to the next. This variability is driven by challenges in moving a company culture to one that embraces advanced analytics, recruits and develops the right analytic talent, and invests to cultivate an integrated data environment to support advanced analytic methodologies and tools.

Companies at the higher levels of analytics maturity have identified a working model for analytics, and have succeeded in the race for talent, with support from a corporate culture that embraces data-driven insights and decision-making, and incentivizes workers to learn new skills. Assembling the right mix of technology, data, and skills can lead to stronger revenue growth and improved operational performance in the commercial function.

An advanced analytics capability could—depending on the type of product and lifecycle stage—deliver “at least a 10 percent net impact from a top- and bottom-line perspective,” said Sai Jasti, GlaxoSmithKline’s chief data officer, US commercial pharmaceuticals, in an interview with HRI.

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Joshua Pagliaro

Partner, PwC US

Christian Bowers

Partner, PwC US

Aklilu Tedla

Director, PwC US

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