An Industry Approved Life Science Analytics Framework

Johnny Grow

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.
Customer Insights Integration to CRM

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 Data Cloud, 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.
Marketing Data Transformation Pipeline

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 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 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.

Customer Churn Prevention Framework

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

Design Thinking Workshop

When it's time to step up your data transformation and analytics, a one-day Design Thinking workshop will 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

CRM Dashboard Design Best Practices

Standout dashboards are built on a minimalist UI and interactive visualizations to improve the user experience and gain enthusiastic adoption.

Read More

The 6 CRM Dashboard Best Practices

The top 6 CRM dashboard best practices show how to convert data to insights and make those insights actionable.

Read More

A CRM Data Management Dashboard

A CRM data management dashboard is essential to maintain data quality. This post shares CRM data dashboards with the essential 8 metrics.

Read More

CRM Data Quality Best Practices

CRM data management best practices to combat data deterioration and ensure data integrity, employee trust and CRM user adoption.

Read More

How to Create a CRM Data Quality Policy

How to make a CRM data quality policy that improves information accuracy, employee trust and CRM user adoption.

Read More

How to Design CRM Analytics to Deliver the Most Value

The CRM Analytics Value Continuum defines the information that improves customer interactions, staff decision making and company growth.

Read More

CRM Predictive Analytics Examples

CRM software predictive analytics examples show how to increase customer acquisitions, grow customer share and accelerate company revenues.

Read More

How CRM Predictive Analytics Create a Competitive Advantage

Research from Gartner shows Predictive Analytics is the single greatest technology capable of delivering competitive advantage.

Read More

CRM Business Intelligence Best Practices

CRM analytics research found 7 CRM BI best practices consistently used by the top performers. Here are those best practices.

Read More

CRM Business Intelligence Research Findings

Research shows the Best-in-Class CRM archetype uses different CRM BI tools than all others. See the 5 BI tools used by the top performers.

Read More

Visit the Life Sciences ERP, CRM and Technology Insights Hub for more analytics and technology research findings, best practices and industry insights.