An Industry Approved Life Science Analytics Framework
Life Science Data Systems and Analytics Consulting
Ready to step up life sciences data management?
How We Can Help
Customer Data for Improved Sales Results
Biotech, medical device and pharma sales analytics can directly improve sales conversions and revenue acceleration
Data Enrichment for Increased Marketing Conversions
Medical device and pharma marketing analytics create more relevant customer engagement and higher campaign conversions
Data to Increase Customer Lifetime Value and Retention
Customer data can be applied to deliver differentiated customer experiences for increased customer share and retention
Life Science Analytics Framework
Life sciences companies are prolific acquirers of big data. But many times, that data does not directly improve sales, marketing and customer service outcomes. Based on our experience of helping clients, and our proprietary life science analytics framework and life science data management accelerators, here are a few examples of how we have used data to directly drive business outcomes and revenue results.
Biotech, Medical Device and Pharma Sales Analytics
- CRM customer records can be configured to display actionable data, such as buyer insights for sales qualification, propensity to purchase models, customer segments for look-alike modeling, customer sentiment for sales engagement, sale and purchase history, and customer profitability (overall and by product) to name only a few. This data can be used for guided selling and applied to sale opportunity win plans and customer account plans to improve sales conversions.
- Data can be gathered to show what drugs, devices or items have been prescribed in what areas, often by which physicians or HCPs. The data can then be integrated with sales strategies and account plans or used to append sales processes, local market plans, KOL plans and individual physician plans.
- CRM platforms such as Salesforce use integrated tools such as Tableau and Einstein to harvest customer and sales data, deliver intelligent Next Best Offer or Next Best Action recommendations, and align markets by territory, product, salesperson or customer segment. The use cases for combining customer and sales data are almost limitless. The below diagram illustrates how data can be assembled in the customer record to directly impact sales processes.
Biotech, Medical Device and Pharma Marketing Analytics
- Life science and pharma marketing analytics earn double digit campaign conversion improvements when customer data is appended with customer intelligence and third-party data enrichment, and then structured into dynamic ideal customer profile (ICP) records, customer segments and target audiences.
- Ideally, customer and market data should be inserted into the marketing cloud that will used for customer engagement and reporting. To avoid duplicate data, most marketing clouds offer a customer data platform, such as Microsoft's Customer Insights or Salesforce's Genie, that standardizes, centralizes and rolls up the data.
- We have also found that third party data enrichment sources such as HCP data from Definitive Healthcare can significantly improve customer intelligence and thereby improve marketing offers and campaign conversions.
- The below illustration is taken from our life science data management accelerator, to show how data can be transformed from a by-product to a business outcome.
Data and Analytics to Increase Customer Share and Retention
The ability to increase customer lifetime value or improve customer retention delivers significant and sustained revenue growth.
Customer share and lifetime value can be increased by applying data to deliver more relevant, personalized and contextual customer experiences. Customer retention can be improved by using data to calculate customer health scores and applying analytics to identify customer behaviors that precede customer churn.
Knowing why customers churn is more powerful than knowing which customers will churn as it allows companies to fix the causes of churn and prevent customer attrition before it happens. Below is a pharma sales analytics accelerator we have used several times to show why customers churn and how to proactively avoid that churn.
Life Sciences Data Management & Analytics Consulting
Helping clients turn data into their most valuable asset is our business.
Applying life sciences data management with life science data systems is a Johnny Grow core competency.
Our biotech, medical device and pharma sales analytics consulting services help clients convert data from a raw material to a finished good in the form of information or insight. We are experts with data transformation and analytics technologies such as the Salesforce Analytics Cloud and have the repeatable processes to connect data, insights, action and outcomes.
Our life science data systems and analytics accelerators help clients use data to elevate information value from seeing "what happened" to understanding "why it happened" to predicting "what will happen" and ultimately, knowing "what should happen and what should I do next". This evolution creates the intelligent enterprise.
An Onramp to Improved Analytics
Design Thinking Workshop
When it's time to step up your data transformation and analytics, a one-day Design Thinking workshop can surface a prioritized list of the most important and highest impact data-driven use cases and business outcomes.
These capabilities become the success factors to demonstrate measurable life science analytics value.
Business Analytics Insights
The CRM Analytics Value Continuum defines the information that improves customer interactions, staff decision making and company growth.Read More
Research from Gartner shows Predictive Analytics is the single greatest technology capable of delivering competitive advantage.Read More