Tag: pharmaceutical companies

Customer Segmentation

Customer Segmentation Engagement Helped a Pharmaceutical Products Supplier to Bridge the Price Gaps and Improve Customer Retention by 4x- Quantzig’s Latest Success Story

Quantzig’s multi-dimensional approach to customer segmentation analytics helped us better target our customers by understanding customer’s behaviors, needs, and values.

About the Client

The client is a leading pharmaceutical products supplier based out of the United States. The company sells its products in more than 12 countries all around  North America.

The Business Challenge

The rising skepticism over the ever-escalating prices on pharmaceutical products is compelling organizations to innovate by increasing their investments in R&D. As people are gaining more access to healthcare, prominent businesses are planning to manage healthcare funding and tender effective measures to narrow the price gaps between local and international brands. Along with urbanization, the rise of the aging population, changing lifestyles, and increasing incidences of chronic diseases will drive the growth of the pharmaceutical product space.

The client, a prominent pharmaceutical products supplier, wanted to stay ahead of the competitors and identify new products to meet customer expectations. The pharmaceutical industry client wanted to segment their customers based on their needs, behaviors, and demographics. Moreover, through an effective customer segmentation engagement, the supplier of the pharmaceutical product wanted to develop value-based segmentation to understand the revenue they generate. The primary concern of the client was to create and communicate targeted marketing messages to resonate with a specific group of customers.

Request a free brochure of our customer segmentation analytics solutions to gain comprehensive insights into the role of cognitive technologies in analyzing customer preferences in the pharmaceutical industry.

Based on the business requirements, the client collaborated with Quantzig  to leverage its expertise in offering customer segmentation analytics solutions to help them develop value-based segmentation to understand the revenue they generate.


Solution Offered and Value Delivered

Quantzig’s dedicated team of customer segmentation analytics designed a three-step approach to help the client tackle the core business challenge.

Talk to our analytics experts to know how we can help you develop more focused marketing messages to best fit each customer segment  in the pharmaceutical industry.

Our analytics experts adopted a three-step approach to help the client tackle their core business challenges.

Phase 1

The first phase of customer segmentation engagement focused on analyzing business objectives by collecting customer data from disparate sources and developing a detailed roadmap to help the client identify unique customer personas.

Phase 2

In the second phase of customer segmentation engagement, our analytics experts integrated and harmonized data to identify high-performing, profitable product categories, and understand the degree of alignment between the needs of the customers and their  offerings.

Phase 3

The third and final phase of the customer segmentation engagement focused on creating customer profiles based on the demographic consumption patterns. Also, our analytics experts leveraged predictive modeling techniques to help the client devise suitable marketing strategies and cater to the needs of different customer segments.

Gain limited time complimentary access to our analytics platform to analyze and identify the most lucrative opportunities in the competitive pharmaceutical market in real-time.

Business Outcome

The customer segmentation solution offered by Quantzig helped the pharmaceutical products supplier to identify ways to improve product and service opportunities and establish a better relationship with the customers. The solution also sought ways for the client to differentiate customers based on their economic value. Moreover, the client was able to predict and anticipate the most profitable customers and allocate their capital resources efficiently. The client was able to differentiate their products with that of the competitors’ offerings and improve the overall market share.

Quantzig’s customer segmentation analytics solution also empowered the client to:

  • Successfully bridge the price gaps
  • Improve customer retention by 4X
  • Enhance relationships with potential customer groups
  • Target niche customer segments

Want more tips on how customer segmentation analytics can help you improve the business outcome?

real world evidence

Quantzig’s Real World Evidence Analytics Solutions Helped a German Pharmaceutical Company Reduce Sampling Costs and Increase Sales by 17%

By leveraging Quantzig’s real world evidence analytics solutions we were able to interpret data from patient records, clinical trials, and drug discovery, and treatment outcomes and gained a better understanding of disease progression patterns, resource usage, and treatment pathways.” 

About the Client

The client is a leading pharmaceutical industry player based out of Germany having more than €500 million annual turnover. The company has more than 5 years of patients CDR and claims repository.

The Business Challenge

A leading pharmaceutical manufacturer in Germany, focusing on a broad range of products with a challenging drug-delivery mechanism and delivered mainly through agreements with third parties, wanted to improve the existing market share of their drugs. The client faced stiff competition in the market and needed to improve their reach and marketing strategy to ensure that the physicians prescribe their brand. They did not have a sample allocation strategy to generate incremental sales and higher returns on investment. As such, there was a need to implement a more targeted approach, based on the insights from the physician’s prescription behavior. There was also a need to assess the short-term and long-term impact of marketing and do a root cause analysis to understand the underlying behavior for physicians who were prescribing their brand.

Companies in the pharmaceutical industry can leverage Quantzig’s real world evidence solutions to gain comprehensive insights into treatment pathways, patient adherence, disease progression, drug safety, and patient engagement. Request a free brochure of our analytics solution right away!

Based on the business requirements, the client collaborated with Quantzig  to leverage its expertise in offering real world evidence analytics solutions to help them develop a solution for targeting physicians based on their prescription propensity and optimize the sample allocation strategy.

Solution Offered and Value Delivered

Quantzig’s real world evidence analytics solutions are specifically designed to help healthcare organizations evaluate drug treatment efficacy and cost-effectiveness of therapies to complement clinical trial outcomes using data sources such as claims history, electronic medical records, patient demographics, and social media information. Our real world evidence analytics experts work in collaboration with organizations towards bringing real-world and commercial insights into their clinical development planning process to help them make well-informed and confident business decisions.

Harness the power of real world evidence analytics to enhance clinical research efficiency.

Talk to our analytics experts for more insights.

Real world evidence analytics experts adopted a three-step analytics approach to help the client tackle their core business challenge.

Phase 1

The first phase of the real world evidence analytics solution focused on data acquisition and parsing of diverse data sets to analyze TRx and NRx trends. This helped them gain detailed insights into the market share of the brand as well as that of their competitors’ market share.

Phase 2

In the second phase, real world analytics experts focused on re-allocating the samples based on prescribing patterns and predicted behavior, using Partially Observable Markov Decision Process (POMDP).

Phase 3

In the third phase of this real world evidence analytics engagement, our experts devised customized dashboards to provide real-time updates and insights on brand, representative and physician performance.

Looking to design strategies to commercialize new drug applications and upgrade post-launch sales and marketing tactics? Our customized analytics solutions can help. Gain limited-time complimentary access to our analytics platform today.

Business Outcome

Quantzig’s real world evidence solutions also helped the client to better understand the impact of sample allocation in different scenarios and identify key reasons for inappropriate sample distribution across states based on data visualizations in real-time. Also, the real world evidence analytics solutions had the following impact:

  • Sales increased by 17%
  • Sampling cost reduced by more than 51%
  • There was 3X improvement in physician satisfaction
  • Sales effectiveness improved based on actionable insights offered on sales growth opportunities

Learn more about how our real world evidence analytics solutions can help you achieve desired business outcomes in the pharmaceutical industry.

Pharmaceutical Industry

Quantzig’s Real World Evidence Analytics Solutions Helped a Pharmaceutical Industry Client to Improve Drug Efficacy and Increase the Market Share by 3x

Today for companies in the pharmaceutical industry, it has become very crucial to shift from a sales and marketing-focused model to an access-driven commercial model. With healthcare becoming a priority for governments in several countries, the pharmaceutical industry seems to have a bright future. But on the flipside, there are several factors like consumer attitudes, drug availability, affordability, policies of governments, which might not entirely be in the favor of pharma companies and are challenging the growth of pharmaceutical industry.

A leading pharmaceutical manufacturer and distributor, based out of US, has 5 years of patient CDR and claims repository. They wanted to track the market share and analyze future growth opportunities based on the performance of two oral oncolytic drugs they had launched a year back using both internal and real-world sources of data.

Request a FREE Brochure of our real-world evidence analytics solution to learn how it can help companies in the pharmaceutical industry to interpret data from patient records, clinical trials, and drug discovery.

Business Challenge

The client, a leading pharmaceutical company, was facing serious challenges in tracking the market share and updating static reports frequently based on changing stakeholder requirements. Moreover, with the complexity of multiple lines of therapy, a high degree of specificity was required to help physicians determine the right therapy and drug combination for different patient segments. The client collaborated with Quantzig to leverage its expertise in offering real word evidence analytics solution for tracking and monitoring the market share and simulating outcomes for physicians.

Talk to our experts who can help you identify the right development paths- those that deliver the most value with the optimal balance of risk, speed, and efficiency.

Business Outcome

Solution Offered and Value Delivered

To help the pharmaceutical industry client tackle their core business challenges, real world evidence analytics experts adopted a three-step holistic approach. In the first phase they designed a rule-based algorithm (leveraging multiple predictive algorithms) to arrive at the best treatment option for particular patient profiles. The second phase of this engagement focused on integrating medical and pharmacy data at patient level to offer the pharmaceutical industry client a complete market picture including (physician, diagnosis, procedure, prescription date, pills / days). In the third and final phase, the experts developed a rule based optimal treatment algorithm to predict the best treatment option based on cancer progression and risk of surgery.

Gain limited-time complimentary access to our analytics platform to evaluate the drug treatment efficacy and cost-effectiveness of therapies to complement clinical trial outcomes using disparate data sources.

The solution offered helped the pharmaceutical company to track the market share and sales trends of the drugs in real time and ensure reporting at multiple levels (region, physician etc.) for all metrics.

Quantzig’s real world evidence analytics also helped the pharmaceutical industry client to:

  • Develop new therapies and differentiate their brand from the market
  • Design multiple Hidden Markov Models to arrive at the best treatment option for particular patient profile
  • Increase market share by 3X

Learn more about the benefits of real world evidence analytics solutions in the pharmaceutical industry.

clinical trial data analysis

Clinical Trial Data Analysis Engagement Helped a Leading Global Pharma Company to Determine Chance of Disease Relapse – A Quantzig’s Success Story

The client is a leading global pharma company who had conducted clinical trials in partnership with more than 10 different hospitals for patients suffering from melanoma. They approached Quantzig to leverage its clinical trials data analysis expertise to compare the two treatment groups for disease-free interval and survival using advanced statistical analysis techniques.

For companies in the pharmaceutical industry, it is difficult to analyze the vast amounts of raw, unstructured patient data. Clinical trial data analysis requires tested statistical methods that have to be specified with the regulatory authorities before the trial even begins. With nearly 80% of clinical trials failing to meet enrollment timelines, pharmaceutical companies need a more efficient approach to improve their data analysis capability. This is where data analytics tools can help. Clinical trial data analysis done using data analytics tools can help pharmaceutical companies to understand the epidemiology landscape and develop an effective enrollment forecast. This can further help in understanding and analyzing the accuracy of patient data and provide a complete view of the patient journey.

Quantzig’s analytics experts help pharmaceutical companies to optimize strategic clinical processes by combining data, analytics and technology. Get in touch with them to know more.

Business Challenge

The client, a global pharma company, conducted clinical trials for patients who were operated and were on medication therapy A or B for more than 2 years. Throughout the trial, the patient’s status, laboratory parameters, vital signs, skin examinations, and other parameters were constantly monitored and tracked to achieve the following goals:

  • Identify the recurrence rate of the disease
  • Analyze factors impacting survival rate

Despite employing quality control measures to analyze the completeness and accuracy of patient data,  the pharma client was not satisfied with the outcomes.. They wanted to compare the two treatment groups for disease-free interval and survival using clinical trial data analysis techniques, for which they approached Quantzig.

Our clinical trial data analysis solutions help companies to analyze performance with access to critical trial data in real-time. Request a FREE proposal to gain in-depth insights into our portfolio of analytics solutions.

Solution Offered and Value Delivered

Quantzig’s analytics experts adopted a comprehensive approach comprising three phases to help the client tackle their core business challenges. The first phase revolved around understanding the business scope and objective of the analysis through multiple discussions with the client. During the second phase of the clinical trial data analysis engagement, our experts collected and integrated disparate sets of patient data and created basic data quality reports based on an in-depth clinical trial data analysis. The third and the final phase of this engagement revolved around designing parametric hazard models, and life tables to analyze survival rate and the recurrence rate of the disease in different groups. Also, they conducted a survival analysis for each treatment group and compared the survival curve with the log test rank.

Quantzig’s analytics solutions help pharma companies to access all their trial data in real-time via an intuitive, role-based dashboard that helped them to visualize performance metrics. Request a Free demo to know more.

The solution offered helped the client to gain valuable insights into adverse events, patient characteristics, and segments level. Also, the client was able to improve their patient data quality check mechanism by highlighting current inefficiencies in the data entry process.

CLINICAL TRIALS DATA ANALYSIS ENGAGEMENTQuantzig’s clinical trial data analysis engagement helped the client to:

  • Reduce the risk of multiple surgeries
  • Predict the optimal therapy line as well as medication-based on model results
  • Evaluate the effectiveness of the prescribed medication

To know how our analytics solutions can help you identify unexpected or novel patterns and predict treatment responses and patient behavior, request more information below.

customer segmentation analytics

Boosting Sales and Profitability for a German Pharmaceutical Company with the help of Customer Segmentation Analytics – A Quantzig Success Story

The client is a German pharmaceutical company that majorly focuses its efforts on oncology, metabolism, immunology, respiratory disease and central nervous system diseases. The company has a strong market presence in 12 countries across the globe.

With the pharmaceutical environment becoming extremely competitive and dynamic, companies in the pharmaceutical industry have also shifted their approach towards consumerism. To stay ahead of the curve in today’s business landscape, pharma companies need to effectively target promotional activities toward consumers who are most likely to respond to their marketing efforts. Pharma companies need to get away with traditional marketing approaches to reach consumers in a rapidly changing healthcare environment.

Quantzig’s customer segmentation models employ sophisticated data clustering techniques to classify customers into diverse groups. Request a FREE proposal now to gain in-depth insights into our portfolio of customer analytics solutions.

Business Challenge

The client was facing serious challenges while expanding their business overseas.  This was mainly due to their inability to classify customers in the new market based on their needs and specific behavioral and demographic patterns. The pharma company was not able to achieve the desired results through their existing promotional campaigns. So, they approached Quantzig to leverage its expertise in offering customer segmentation analytics to better understand and segment their customers based on their value. Also, by leveraging customer segmentation analytics, the client wanted to tap hidden business opportunities within untapped customer segments in the new market.

Our customer segmentation analytics experts help companies achieve far more accurate insights regarding customer preferences and help develop forward-looking perspectives. Get in touch with them right away.

Solution Offered and Value Delivered

To help the client tackle their challenges Quantzig developed a holistic customer segmentation analytics framework to improve their customer segmentation strategies and target new consumers through personalized marketing campaigns. The analytics experts at Quantzig also leveraged robust statistical tools and response modeling techniques to glean actionable insights into various customer segments. Consequently, the client witnessed a significant improvement in the response for their personalized campaigns and achieved an increase of 23% in sales and profitability.

By using Quantzig’s multi-dimensional approach to customer segmentation analytics you can better target your customers by understanding their behaviors, needs, and value. Request a FREE demo to know more.

Quantzig’s customer segmentation analytics solutions also helped the client to:

  • Identify high-performing, profitable product categories, and understand the degree of alignment between the needs of the customers and their offerings
  • Better target their customers by understanding their behavior, needs, and value
  • Achieve an unparalleled degree of customer-centricity and unique value propositions

To learn how our customer analytics solutions can help you get end to end visibility into your customer’s journey, request for more information below.

Global Pharmaceutical Industry Challenges

PHARMACEUTICAL INDUSTRY

advanced planning and scheduling

How is Big Data Analytics Contributing to the Changing Dynamics of the Pharmaceutical Industry?

The use of big data is no longer limited to transforming customer-facing functions such as sales and marketing alone. In the pharmaceutical industry, big data analytics is helping companies to deal with declining success rates and stagnant pipelines. Big data analytics is creating immense opportunities for companies in the pharmaceutical industry to deal with complex business environments amidst the explosion of data sets. The effective utilization of these datasets can help pharmaceutical companies in drug development. Also, big data analytics has enabled companies to improve clinical trials, manage risks efficiently, and improve patient safety.

Our analytics solutions help pharmaceutical companies in medical cost management and drug development. Request a FREE proposal now to gain better insights into our portfolio of analytics solutions.

How is big data analytics revolutionizing the pharmaceutical industry?

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Improving sales and marketing

Until recently sales and marketing were grey areas in the pharmaceutical industry. But by leveraging big data analytics, pharmaceutical companies can easily focus on specific geographical areas to promote their medications. Consequently, pharmaceutical companies can create targeted marketing campaigns, thereby saving both on time and effort. Therefore, the role of big data analytics has become even more critical in devising marketing strategies and sales plans.

Quantzig offers analytics solutions specific to the pharmaceutical industry that provide evidence-based insights to help drive better decisions and results in all commercial operations. Request a FREE demo below to know more.

virtual clinical trials

Enhancing the efficiency of clinical trials

Clinical trials are an integral part of the pharma industry. The patients undergoing these trials must meet some prerequisites. Big data analytics solutions help companies merge the databases from multiple sources, to filter out patients who do not meet the basic requirements. Also, these solutions help researchers monitor the patients on a real-time basis and predict the side-effects of drugs.

US healthcare industry

Helping in early detection of diseases

Predictive analytics is helping companies in the pharmaceutical industry in the early detection of drug toxicity as well as improving the chances of patient survival. The algorithms used by predictive analytics helps in gaining detailed insights into patient data and deliver personalized care to the patient.

Our pharmaceutical industry experts help companies to manage their supply chains through specialized algorithms, tools and analytics models. Get in touch with them right away.

healthcare analytics

Allowing doctor-pharma collaboration

One way in which big data analytics is making improvements in the pharmaceutical industry is by predicting the best treatments for individual patients. It can help in looking through data faster than humans and find the interventions likely to cause the most significant advantages for ill patients and their caregivers. Using big data analytics insights, pharmaceutical companies can reach out to physicians and advise on how a certain medication could fit within a person’s treatment plan. Also, it enables  physicians to collect real-time data about whether treatments have intended effects, especially when their patients use Internet of Things (IoT) enabled wearables.

Wonder how big data analytics solutions can help you improve ROI significantly? Request for more information below.

3 Strategies for Leveraging Patient Journey Mapping to Improve Patient Experience

As patient experience moves towards the center stage for many of the nation’s health systems, leaders and pharmaceutical companies responsible for this function are tackling issues like lack of leadership to drive patient centricity, separating quality care from hospital amenities, and understanding patient journey, needs, and wants.

When a patient’s needs and demands are not understood or there is a breakdown in the communication, they feel lost, vulnerable, and afraid. This is where marketers and communicators should be contributing to the patient experience. While the healthcare professionals or pharmaceutical companies may not be able to change what happens in the examination room, there are several ways they can support and enhance communication throughout the experience, and patient journey mapping is a key strategy.

At Quantzig, we understand the power of patient journey mapping in boosting patient experience and the huge difference it can make in the growth graph of your healthcare business. And to help pharmaceutical companies excel in an ever-competitive healthcare Contact USmarket, our team of experts has highlighted three key strategies for leveraging patient journey mapping that can help pharmaceutical companies improve their patient experience.

Strategies for Leveraging Patient Journey Mapping to Improve Patient Experience

Strategy #1: Treat your organization’s website like the North Star

Pharmaceutical companies or any healthcare organization should ensure that their website should be truly patient-centric and offer clear, strategic calls-to-action to tap into the mindset of the patient. This helps your prospective patients to be just a click away from what they need. Patient journey mapping at the trigger event phase will likely drive the critical first impression and begin a positive or negative patient experience.

Strategy #2: Ensure your calls to action are an impeccable experience

Whether patients are calling for an appointment or scheduling services online, they should experience the ease of access. Lengthy hold times and arduous steps to see a provider creates friction for your patient audiences. Patient journey mapping at the cRequest Proposalonsideration phase pushes pharmaceutical companies to strive for improving the ease of access.

Strategy #3: Communicate to patients about the next step clearly

Ensuring that the patient understands the next step, and the step after that is very important. The intent and experience phase of patient journey mapping makes it mandatory for hospitals and pharmaceutical companies to have a clear communications protocol to guide patients through the scenario that may come next, making them feel well-cared for and delivering the utmost patient experience.


Wondering how to improve patient experience and reconfigure your approach to care? Patient journey mapping is the key. Request a free demo below and access patient data on real-time dashboards.

demo

Top 3 Pharmaceutical Marketing Strategies that Companies Must Keep an Eye on

At present, the pharmaceutical industry is one of the biggest markets in the world and companies must be vigilant of the latest pharmaceutical marketing strategies to successfully reach the target audience. The time and effort that it takes to research and identify a market, develop a formulation for the drug, integrate operational systems, run clinical trials, and focus on branding are colossal and every stage takes a great deal of funding to reach completion. Therefore, it is essential for pharmaceutical companies to have some good pharmaceutical marketing strategies in place. Most pharmaceutical companies are competing against each other in terms of retailing products. Geographical location and price are essential qualities that can help companies to make a dent in the market. But implementing watertight pharmaceutical marketing strategies can help companies to become market leaders. In this article, we have explained in detail some interesting pharmaceutical marketing strategies to help pharma companies increase their presence in the market.

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data and analytics

Top 5 Challenges Facing the Pharmaceutical Industry and Solutions to Combat Them Effectively

There have been several speculations about the stationary growth of the pharmaceutical industry, but recent technological advancements are expected to encourage the growth of this industry in the years to come. Click To Tweet

The recent population shift to urban areas and increasing accessibility of people to healthcare services has opened the doors for companies in the pharmaceutical industry to a broader target market. These emerging markets are becoming extremely important for pharma companies. However, for companies in the pharmaceutical industry, it becomes very essential to shift from a sales and marketing-focused model to an access-driven commercial model. Additionally, with healthcare becoming a priority for governments in several countries, the pharmaceutical industry seems to have a bright future. But on the flipside, there are several factors like consumer attitudes, drug availability, affordability, policies of governments, which might not entirely be in the favor of pharma companies and are challenging the growth of pharmaceutical industry. In this article, we have talked about several critical challenges faced by the big players in the pharmaceutical industry. and have highlighted steps that will help companies to combat each of those challenges.

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