Pharmaceutical companies have massive amounts of data on their commercial operations, ranging from drug prescriptions to patient profiles. One leading pharmaceutical company needed a better way to find problems and opportunities across their massive and growing data sets to accelerate forecasting and strategic decision making.
The firm’s previous data analysis strategy included 5 data analysis professionals sifting through 3 terabytes of dispense records, supply chain, and doctor prescription drug records. This data mining was obviously very manual and could take upwards of 3 weeks to uncover any meaningful insight. The leadership team was concerned they were missing important information so that they could deliver the best patient care.
The leading pharma company selected Outlier as their Automated Business Analysis platform to turn their data into an advantage. Outlier analyzed 331,000 metrics and dimensions combinations (i.e. time-series) and 8.6 billion data points. Yep, artificial intelligence is the best way to analyze that much data.
“Outlier guides us on making more and faster strategic decisions based upon our huge data sets. Before Outlier, we didn’t know what hidden insights were in our data or how many weeks it would take to find those insights.
Our management team wanted to partner with a firm that could help us keep our competitive advantage and continue to deliver the best patient experience.”
Vice President of Commercial Analytic Strategy
A Leading Life Science Company
In just a matter of days, the pharma firm was able to integrate their commercial drug data to get deeper insights into their business. Outlier automatically identified:
- Shifts in drug prescription rates across hospitals, providers and health groups that indicated changes in treatment strategies.
- Data quality issues that risked compromising their reporting and analytics tools. Many of these data quality issues were too small to be found manually, but they added up to into big errors overall.
- Supply chain issues that affected the availability of drugs to arrive in locations at certain times of the year. Outlier automatically looked for relationships between the supply chain and delivery, which kept them ahead of possible distribution challenges.
- Empowering field salespeople to understand customer changes quickly so that they can personalize outreach.
Currently, Outlier delivers weekly insights, helping leadership make strategic business decisions. By knowing exactly when shifts are happening in the business, the pharma firm is proactive in dealing with problems and opportunities.