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Products & Services

Delivering Maximum Brand Impact Via Pharmaceutical Market Analytics

ID: SM-174


Features:

22 Info Graphics

22 Data Graphics

20 Metrics

13 Narratives

16 Best Practices


Pages: 54


Published: Pre-2013


Delivery Format: Shipped


 

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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Market analytics functions play a key role in helping pharmaceutical and biotechnology companies make informed decisions, avoid risk and uncover opportunities for growth. Although Market analytics insights can be vital to corporate success, the function’s full value often remains unrealized.

This research examines how to maximize the business value of analytics through optimal structuring, staffing and positioning of analytics activities. Executives can use this information to demonstrate business value and win the recognition and resources needed to achieve and sustain high performance levels.

This research is focused on major topic areas: (1) Hiring for Market Analytics Performance Excellence, (2 Delivering High-Impact Services, (3) Building Effective Relationships with Key Stakeholders, (4) Structuring to Support Healthy Product Growth and (5) Winning Corporate Recognition and Support. Specific areas of coverage include:


Industries Profiled:
Pharmaceutical; Health Care; Consumer Products; Biotech


Companies Profiled:
Abbott Laboratories; Sanofi-aventis; Xanodyne Pharmaceuticals; Vertex Pharmaceuticals; Shire; Sepracor; Purdue Pharma; Ortho Biotech; Novartis; Medrad; Mead Johnson; Genzyme; Eli Lilly; Eisai; DSM Pharmaceutical; Cubist Pharmaceuticals; Boehringer Ingelheim; Aton Pharma; Amylin; Amgen; Alcon


Study Snapshot

This study was undertaken in two phases — an online survey and telephone interviews. Researchers surveyed managers and executives from 21 leading pharmaceutical, medical device and biotechnology companies to collect benchmark data on program structure, activities, resources, stakeholders and strategies for delivering results with maximum business impact. Also, the research team conducted in-depth interviews with selected program leaders at six of the surveyed organizations. Best Practices used interviews to surface executive insights and winning practices companies use to evolve the analytics functions to keep pace with company growth and change.

For this study, the term “market analytics” is used broadly to encompass a range of activities usually conducted in such departments as Market Research, Market Analytics, Business/ Commercial/Franchise/Brand Analytics, Business Development, Competitive/Business/Market Intelligence, Sales or Sales Operations, Pricing, Forecasting, Marketing, or Finance. This study focuses on individual analytics activities rather than on departments where they may or may not be performed even though analytics functions are rarely all centralized in a single department.

Selected Key Findings

Growth and Evolution of Analytics
Growth Drivers: New product launch or acquisition, lifecycle extension efforts and significant revenue increases for existing products are the key drivers of growth and evolution in analytics functions.

Activities & Staffing
Highest Impact Activities: Forecasting and sales force analytics have substantially more impact on the company than other analytics activities. Forty-three percent of respondents gave forecasting the highest ranking for business impact and 24 percent ranked sales analytics No. 1.

Organization & Structure
Centralization: Analytics functions are most often fully or partially centralized. Those that are partially centralized—43 percent—often decentralize their analysts to build relationships with key customers but centralize administrative functions to benefit from economies of scale.

Table of Contents

Delivering Maximum Brand Impact via Pharmaceutical Market Analytics

EXECUTIVE SUMMARY 1
Introduction 1
Research Approach 1
Participating Companies 2
Figure S.1-Participating Companies 2
Figure S.2-Job Titles of Participants 3
Figure S.3-Participant Company Size 3
Figure S.4-Years of Analytic Experience 4
Key Insights 4
Key Findings 5
Analytics Activities Included in the Study 6

HIRING FOR MARKET ANALYTICS PERFORMANCE EXCELLENCE 7
Introduction 7
Figure 1.1-Essential Employee Experience, Skills, & Attributes 7
Figure 1.2-Essential Employee Experience 8
Figure 1.3-Essential Employee Skills & Competencies 9
Figure 1.4-Essential Employee Attributes 10
Figure 1.5-Key Analytics Skills in Early Stage Organizations 11
Number of FTEs 11
Figure 1.6-FTE: Headcount by Company 11
Figure 1.7-Benchmark Partner Observations on FTE Requirements 12
Outsourcing 13
Figure 1.8-Outsourcing Detail 13
Figure 1.9-Extent of Outsourcing 13
Figure 1.10-Reasons for Outsourcing 15

DELIVERING HIGH IMPACT ANALYTICS SERVICES 17
Introduction 17
Figure 2.1-Top Rated Activities 18
Figure 2.2-Activity Impact Scoring: Weighted Rankings 19
Primary Department for Activities 19
Figure 2.3-Primary Departments for Analytics Activities 20
Figure 2.4-Other Departments for Analytics Activities 21
Responsibility for Activities 21
Figure 2.5-Job Titles with Ultimate Responsibility for Activities 21
Figure 2.6-Job Titles by Analytics Activity 22

BUILDING EFFECTIVE RELATIONSHIPS WITH KEY STAKEHOLDERS 23
Introduction 23
Figure 3.1-Sales Analytics Customers 23
Figure 3.2-Marketing Analytics Customers 24
Figure 3.3-Business Development Analytics Customers 24
Figure 3.4-Forecasting Analytics Customers 25
Figure 3.5-Collaborators for Sales Analytics Activities 25
Figure 3.6-Collaborators for Marketing Analytics Activities 26
Figure 3.7-Collaborators for Business Development Analytics Customers 26
Figure 3.8-Collaborators for Forecasting Analytics Activities 27
Figure 3.9-Lessons Learned: Stakeholder Relationships 28

STRUCTURING TO SUPPORT HEALTHY PRODUCT GROWTH 30
Introduction 30
Centralization 30
Figure 4.1-Organizational Structure at Surveyed Companies 31
Departmental Alignment 32
Activities Integration 33
Figure 4.2-Tips from a 30-Year Analytics Veteran 34
Market Analytics Organizational Evolution 35
Figure 4.3-Market Analytics Evolution Conceptual Model 35
Figure 4.4-Generalist Model 36
Figure 4.5-Generalist Model, 2 37
Figure 4.6-Evolution of Analytics Activities 38
Figure 4.7-Differentiated Model 39
Figure 4.8-Differentiated Model, 2 39
Figure 4.9-Specialist Model 40
Figure 4.10-Specialist Model, 2 41
Figure 4.11-Distributed Model 41
Figure 4.12-Distributed Model, 2 42
Figure 4.13-Distributed Model: Large Company Example 43
Indicators of Need for Evolution and Growth 43

WINNING CORPORATE RECOGNITION AND SUPPORT 45
Figure 5.1-Essential Building Blocks for Market Analytics Success 45
Gaining Senior Management Support 46
Cultivating Relationships 46
Figure 5.2-Delivering Value to Achieve Organizational Recognition 47
Delivering Great Work 47
Figure 5.3-Strategies and Tactics for Building Value 49
Performance Measurement 49
Figure 5.4-Effectiveness Measurement 49
Figure 5.5-Performance Metrics 50
Figure 5.6-Feedback Methods 51

LESSONS LEARNED 52

    List of Tables and Figures

    Figure 1 - Participating Companies 2
    Figure 2 - Job Titles of Companies 3
    Figure 3 - Participant Company Size 3
    Figure 4 - Years of Analytics Experience 4
    Figure 1.1 – Essential Employee Experience, Skills, & Attributes 7
    Figure 1.2 – Essential Employee Experience 8
    Figure 1.3 – Essential Employee Skills & Competencies 9
    Figure 1.4 – Essential Employee Attributes 10
    Figure 1.5 – Key Analytics Skills in Early Stage Organizations 11
    Figure 1.6 – FTE s: Headcount by Company 11
    Figure 1.7 – Benchmark Partner Observations on FTE Requirements 12
    Figure 1.8 – Outsourcing Detail 13
    Figure 1.9 – Reasons for Outsourcing 15
    Figure 2.1 – Top Rated Activities 20
    Figure 2.2 – Activity Impact Scoring: Weighted Rankings 21
    Figure 2.3 – Primary Departments for Analytics Activities 22
    Figure 2.4 – Other Departments for Analytics Activities 23
    Figure 2.6 – Job Titles by Analytics Activity 24
    Figure 3.1 – Sales Analytics Customers 25
    Figure 3.2 – Marketing Analytics Customers 26
    Figure 3.3 – Business Development Analytics Customers 26
    Figure 3.4 – Forecasting Analytics Customers 27
    Figure 3.5 – Collaboration for Sales Analytics Activities 27
    Figure 3.6 – Collaborators for Marketing Analytics Activities 28
    Figure 3.7 – Collaborators for Business Development Analytics 28
    Figure 3.8 – Collaborators for Forecasting Activitiess 29
    Figure 3.9 – Lessons Learned: Stakeholder Relationships 30
    Figure 4.1 – Organizational Structure at Surveyed Companies 33
    Figure 4.2 – Market Analytics Evolution Conceptual Model 37
    Figure 4.3 – Generalist Model 38
    Figure 4.4 – Generalist Model, 2 39
    Figure 4.5 – Evolution of Analytics Activities 40
    Figure 4.6 – Differentiated Model 41
    Figure 4.8 – Specialist Model 43
    Figure 4.9 – Specialist Model, 2 44
    Figure 4.11 – Distributed Model, 2 45
    Figure 4.12 – Distributed Model: Large Company Example 46
    Figure 5.1 – Essential Building Blocks for Market Analytics Success 48
    Figure 5.2 – Delivering Value to Achieve Organizational Recognition 50
    Figure 5.3 – Strategies & Tactics for Building Value 52
    Figure 5.4 – Effectiveness Measurement 53
    Figure 5.5 – Performance Metrics 54
    Figure 5.6 – Feedback Methods 54