The most effective marketers base their decisions on data analytics insights. These marketers use data from past campaigns to determine the most successful tactics to promote new products. They analyze data from focus groups and A/B testing to confirm their approach before launching a campaign at scale. Furthermore, they track performance to help adapt the campaign to maximize its benefits over time. A pharmaceutical marketing analytics platform is key to providing markets with the insights they need to make smart decisions that lead to better product launches, messaging that resonates, and brand elevation.
Making Pharmaceutical Marketing Analytics Accessible
When pharma companies evaluate analytics platforms for their teams, they’ll quickly discover that they vary widely in their approach to delivering insights. Some analytics dashboard solutions require data science expertise to build and use. That means the marketing team, which often doesn’t have those skills, must rely heavily on their data and IT teams to get the insights they need. That process can take weeks, however, adding time before launching a campaign.
More companies are discovering the benefits of augmented consumer platforms for analytics. These platforms are designed to give users analytics autonomy, regardless of their data expertise. Various forms of artificial intelligence (AI), such as deep learning, natural language understanding (NLU), and natural language processing, give the platform the ability to understand human language and respond in a way that users can easily understand. Additionally, natural language query (NLQ) allows users to ask questions conversationally rather than having to learn keywords or phrases.
With augmented consumer platforms for pharmaceutical marketing analytics, users have instant access to the insights they need, streamlining workflows and helping the marketing team create campaigns purposefully designed to elevate their brands.
Keys to User Adoption
A pharmaceutical marketing analytics platform must also be capable of analyzing multiple data sources and continually increasing data volumes. Marketers may need to analyze data on primary and secondary competitors, the market segment with the greatest revenue potential for their brand, and pricing that would lead to maximum sales in that market.
Traditional dashboard solutions can analyze this data – to a point. When required data sources or volumes surpass a dashboard’s limits, the data team will build a second dashboard. Then, the marketing team needs to piecemeal analysis from different screens and reports. Unfortunately, the complexity that this creates leads to low user adoption. The 2021 Gartner Analytics Consumerization-Democratization Survey found that although 87% of organizations use analytics and business intelligence solutions, only 29% of employees use them on average.
In contrast, AI analytics platforms can analyze life science data sources and massive data volumes without limits. And AI is fast, capable of analyzing petabytes of data in less than a second. These capabilities add up to a user-friendly platform. WhizAI has found that companies that deploy a highly scalable augmented consumer platform see as much as 100% user adoption.
A Path to Improved Performance
Another way to make pharmaceutical marketing analytics more accessible to marketing teams is with embedded interfaces. When users can access the platform from within the business applications they commonly use, such as Veeva, Salesforce, and Microsoft Teams, they can easily build data-driven decision making into their workflows.
Instead of turning to the data or IT team for help when they need answers, marketers can simply click a link, type or ask a question in natural language and get the insights they need without interrupting or slowing down progress on a product launch or campaign. The right platform will help a company build a culture of data that leads to better outcomes, improved marketing ROI, and, ultimately, better patient outcomes.
Technology has advanced to the point where the industry has come to a crossroads. Companies must evaluate their current analytics processes and choose whether to stay the course or add or upgrade to an advanced augmented pharmaceutical marketing analytics platform designed for marketing users. Equipping the marketing team with new technology can have a tremendous impact on brand performance and on their overall businesses.