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The Active Ingredient features expert insights and commentary from leaders of ZS Associates' global pharmaceuticals practice.

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What Does a Good Forecasting Platform Look Like?

Posted by Matt Wills on Wed, Oct 03, 2018

This post is the third in a four-part series on how pharmaceutical companies can elevate their forecasting operations. To learn more about next-generation analytics in forecasting, check out Matt’s session at the ZS Impact Summit, held Nov. 6-7 in Chicago.

Advances in data availability and the technology needed to harness that data have led many to ask how new technology could be used to implement advanced forecasting platforms for regional or global use. These platforms are typically software that sits online to enhance a forecasting process, whether specific to a country or used globally. Often, these questions are focused on increasing the efficiency of the existing forecasting team. While increasing the efficiency is important, it typically doesn’t generate enough organizational impact relative to the investment required to build and maintain a sophisticated piece of software. Platforms should strive to enable better decisions faster and more broadly than just reducing forecaster effort.

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Topics: forecasting, Pharma, Life Sciences, Analytics, forecasting in pharma, pharma marketers, forecasting platforms, Impact Summit 2018

New ZS Research on Forecasting in an Evolving Landscape

Posted by Ram Ramakrishnan on Mon, Jul 09, 2018

This post is the second in a four-part series on how pharmaceutical companies can elevate their forecasting operations.

The pharmaceutical industry is facing an increasingly challenging environment with looming biosimilar launches, tighter access and pricing controls, and saturation within primary care markets. Forecasting as a functional area is affected by these changes, given the range of decisions that forecasts inform.

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Topics: forecasting, Pharma, insights, artificial intelligence, AI, machine learning, artificial intelligence & pharma, pharma landscape, ZS research, forecasting in pharma

Better Decisions, Faster: Forecasting in Times of Change

Posted by Matt Wills on Fri, May 11, 2018

This post is the first in a four-part series on how pharmaceutical companies can elevate their forecasting operations.

Effective forecasts should inform many decisions, from earnings guidance to brand-level investment prioritization. To do that effectively, forecasters should be a strategic partner to the broader organization by supporting investment decisions and risk management. Achieving that partnership requires a forecasting organization that’s objective and data-driven, comprehensive and consistent across the portfolio and globally, constantly adapting to a changing healthcare and technology landscape, and focused on enabling real-time organizational decision-making and risk management.

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Topics: forecasting, Innovation, pharmaceuticals, operations, pharma companies, pharma manufacturer, strategic partnership, risk management, healthcare marketplace, forecasting in pharma

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