Wouldn’t it be a game changer if pharmaceutical companies could diagnose issues for supply and demand, instead of just research and development? And, get updates on logistics, supplier performance, demand management, delays in delivery, or procurement? What if pharmaceutical companies could explore its potential use in other operational processes too? Today we’re going to share how Automated Business Analysis can help increase supply chain productivity of pharmaceutical companies.
Initially, pharmaceuticals invested in business intelligence (BI) tools to help management make critical business decisions from the volumes of data enterprises were handling. As these organizations were going through a digital transformation, an investment in big data analytics was the next logical step to simplify decision-making. But, only being able to visualize the data was the first step. The pharmaceutical companies needed more than only getting the answers to the easy questions. That’s where Automated Business Analysis steps in, evolving BI functions to where artificial intelligence (AI) can take business decision-making to the next level.
Increase Supply Chain Productivity with Automated Business Analysis
Automated Business Analysis leverages AI techniques to analyze data and find unexpected changes in your data quickly, acting as a virtual business analyst. Automated Business Analysis can find these insights immediately reducing the dependency on data scientists and serve up those insights directly to the lines of business owners. Automated Business Analysis platforms automatically surface insights across huge amounts of data, reducing the amount of time required to take advantage of opportunities and fix problems. Automated Business Analysis products work across a myriad of data sources, including cloud-based services and cloud or on-premise storage to perform this analysis quickly.
The Future of Pharma – Increase Supply Chain Productivity
With the market being flooded with an enormity of treatments and competitors increasing in the pharmaceutical sector – drug safety, drug efficacy, and market strategies are a high priority. Automated Business Analysis can transform these operational domains to enable pharmaceutical companies to leverage automated analysis to assist in identifying product and process innovations.
You can identify meaningful trends in your data with Outlier. Without Outlier, these kinds of insights would require hours, days, weeks or months of analysis. Outlier empowers pharmaceutical companies to take a deeper look at their data and uncover unexpected trends that can lead to revenue increases. Sign up for a custom demo to hear how a leading pharmaceutical tracks revenue impact with Outlier and read about how Outlier took first place honors during the Pharmaceutical R&D Information Systems Management Executives Forum (PRISME Forum).
Our second blog in this series is about tracking payer type changes. Stay tuned.