iStock_000053679430SmallWith annual sales predicted to soon surpass $100 billion, oncology drugs represent a huge opportunity. The sales and marketing challenge, as the following case study reveals, is to understand consumer preferences and decision-making within the complexities of cancer treatment. Predictive analytics are essential.

One pharmaceutical company recently tapped ZS Associates to upgrade its analytics capabilities in preparation for the launch of its first oncology drug.

We knew competition was intense. Nineteen cancer drugs launched in 2013, followed by eight in 2014, with hundreds of others in development. Plus, our research showed that 75% of companies have difficulty developing effective sales and marketing processes in oncology.

Data issues abound in oncology, such as imperfect affiliations, partial data capture and unclear indications. As with other oncology drugmakers, the case-study company struggled to understand its consumers thought processes and had limited insight into market dynamics.

“We had different systems for different things,” a company director recalled. “For each therapeutic area, there was one place for sales data, one place for marketing, and you had to stitch that together for insight.”

Our challenge was to develop sophisticated analytics to view physician and account uptake, customer preferences and other competitive intelligence. Looking beyond the launch, the company would need in-market analytics. Total order: a long-term solution encompassing enterprise-level capabilities, technology and governance.

We worked with the company to create a cloud-based analytics data management and analytics platform. All within a matter of weeks, given a competitor’s pending entry in the market, which we wanted to analyze. The analytics solution included:

  • Cloud-based data warehouse integrating 15+ data sources
  • Integration with downstream systems supporting real-time data exchange
  • Mobile apps to support reps’ daily activities
  • On-demand, self-service platform for headquarters; dashboards for executives

All of which helped the company identify sales targets and better understand customer preferences and market dynamics. During its product launch, the company reported “day-one visibility into launch trajectory” and the ability to correct difficulties as they arise.

The solution delivers real-market insights into performance on products, customers and channel partners, and has received near universal adaption within the field force and headquarters analysts.

The upside of so many hurdles in the oncology market? Companies that can harness the power of analytics to develop consumer and market insights gain a major competitive advantage. For more information, download the case study.

Topics: data management, oncology, Analytics, Mahmood Majeed