Maximizing the Impact of Analytics and Insights Teams across the Biopharma Organization: Optimizing Analytics Capabilities

Biopharma organizations are constantly striving to ensure that their analytics capabilities are keeping pace with a marketplace that is driven by rapid advances in technology and analytic methodologies.

Best Practices, LLC undertook this benchmarking research to help the Analytics & Insights (A&I) team within biopharma companies leverage their analytics and talent to provide effective strategic consultation, focus resources, optimize analytics capabilities, and scale successes.

KEY TOPICS

• High-value analytics, methodologies, platforms and outsourcing approaches
• Streamlining market research via analytics

• What analytic methodologies is your Analytics & Insights group currently using, and for what operational purposes?
• How valuable are each of the listed types of analytics for informing brand, HEOR and other key internal partner teams and driving measurable results in the market?
• Where are each of the listed analytics activities conducted for your organization?
• Have you used analytics to replace any of the listed market research study types?
• What platforms does your organization currently utilize for analytics and for reporting?

• A&I teams use many analytic methodologies to fuel commercial insights - but few to support corporate, HEOR and medical:
  • Methodologies used: 50-90% use advanced methodologies to support commercial clients: visualization, forecasting, data mining, AI, conjoint and sentiment analysis, and regression. These are used by 25% or fewer to support other internal clients (HEOR, corporate, medical) however. A majority of A&I teams do not use predictive analytics, simulation or pattern matching methodologies for any clients whatsoever.

Best Practices, LLC engaged 44 Analytics and Insights professionals from 38 leading biopharma organizations in this research through a benchmark survey. Data in this study are segmented by mid vs. large pharma companies. Deep-dive interviews were conducted with selected benchmark participants to provide further insights. Over 85% of research participants serve at the director level or above.

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.