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.