Pharmaceutical Sector market analysis – How big data analytics solutions helped a pharmaceutical firm to evaluate effectiveness of new drugs
LONDON: Quantzig, a global analytics services provider, has recently completed their latest big data analytics solution for a pharmaceutical firm. The global pharmaceutical industry incorporates businesses involved in the research, development, manufacturing, distribution, and marketing of medicines. The medicines manufactured by these pharmaceutical industries are essential for the smooth functioning of the medical sector. the drugs include OTC, prescription-based, and biologically-derived drugs. Additionally, the industry is witnessing a high demand for innovation for new drugs.
“The big data analytics solution offered by Quantzig assisted the pharmaceutical client to improve their ability to measure and monitor whether medications are being used as prescribed or not.” says an industry expert from Quantzig.
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The big data analytics solution focused on analyzing the number of drugs manufactured against supply data and market demand data, and the effect of drug counterfeiting on their overall business. Additionally, the solution also helped the client to understand the effectiveness of drugs by measuring social media sentiment.
Additional Benefits of the Marketing Mix Optimization Solution
- Evaluate the efficacy and effectiveness of new drugs
- Devise robust risk management strategies to help make informed business decisions
- Decrease inventory write-downs and improve margins as volume increases.
- To know more, request a free proposal
To know more about how our big data analytics solution helped the pharmaceutical client