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Harnessing Data & Analytics Solutions for Pharmaceutical Industry

Harnessing Data & Analytics Solutions for Pharmaceutical Industry

Redefine your pharma and life sciences business with data-led planning and decision-making for enhanced sourcing, quality & compliance adherence.

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Capturing the Power of Business Data Management with a Winning Digital-First Strategy

A patient-centric strategy is becoming more prevalent in the pharmaceutical and life sciences industries. They directly affect how people live nowadays. As a result, it is frequently at this cross-section that rapid manufacturing is required in addition to strict yet mandatory regulatory and compliance requirements. For these industries to assess market size, forecast uptake curves, and propel the next stage of innovation, expert guidance is a must.

Whether you require addressing complex issues like performance reporting, marketing mix, and campaign measurement or maximizing profitability & business capacity, Polestar Solutions assists you in every aspect by developing technology solutions.

01 Supply & Distribution Management

For the pharmaceutical and life sciences industry, maintaining an ideal storage condition and holding it is important. However, a reliable technological solution is a need for transparent monitoring and coordination with the vendor networks given the ever-growing distribution network.

  • Vendor performance scorecards to enable rational decisions on where to source raw materials
  • Consignment handling and damage reporting to utilize costs
  • Evaluation of market trends and expansion scope to establish a presence geographically
  • Root cause analysis and reverse logistics to prevent recurrences
02 Production & Budget Planning

The industry's volatile demand due to seasonal change or unforeseen medical conditions may have a regional or broader impact. Pharma and life sciences companies must reinvent themselves to stay competitive in light of the changes in consumer behavior.

  • Capacity planning basis the supply-demand pull
  • Plan and keep track of your financial responsibilities.
  • Utilize IoT data to improve equipment performance and eliminate downtime concerns
  • Analysis of overheads, R&D, and indirect costs for sound financial planning
03 Sales & Marketing Effectiveness

The pharmaceutical industry and life sciences companies are experiencing a wave of innovations and evidently, market competition takes place in different forms - from generic drugs to APIs to various governance norms. It is crucial to take a data-driven approach to support and enable the field force, encourage them, and identify the market drivers that will lead them to adopt a multi-channel marketing plan.

  • Regional demands are used to determine how to allocate sales quota (by territory).
  • ICM (Incentive and Compensation Planning) for field force
  • Ensuring efficient store placements and the execution of sales campaigns
  • Monitoring the effectiveness of marketing channels through sentiment analysis
  • Using social media and search engine listening to collect relevant patient data
04 Quality And Compliance Adherence

The importance of safety precautions cannot be overstated in a field where the efficacy and quality of products directly affect human lives. In order to make the lives of researchers, biotechnologists, doctors, and others easier, we closely adhere to the protocols, meet high safety and compliance requirements, and demand technology intervention.

  • Analysis of production batch data from raw materials to report trends
  • Analysis of clinical data to identify trends and fasten drug discovery
  • Establish benchmarks for industry standards and create guidelines
  • Keep track of quality logs connected to regulatory standards

Harness Our Service Offerings to Address Key Challenges

With the use of pharmaceutical analytics, we help businesses find solutions to existing and unforeseen challenges like:

Sales forecasting and monthly demands are helpful in making informed decisions about stocks of raw materials and finished goods. Additionally, it delivers more targeted and focused SKUs and helps in determining territory-wise customer trends. A detailed analysis of primary, secondary, and tertiary sales data provides in-depth insights into the efficiency of marketing campaigns.

Pharmaceutical industry leaders use incentive and compensation systems (ICM) to motivate their field staff. The pharmaceutical sector usually relies on its field force and thus finds it challenging to attract the retain the right talent. ICM is regarded as one of the major forces influencing sales force productivity. To ensure optimum productivity and effectiveness for your salesforce, we assist you with developing a robust ICM.

The financial consolidation in this sector is very tedious given the numerous channels, partners, contract workers, and different types of transactions (B2B, B2C, and B2B2C). To further capture and clean the data, it is essential to define the master data. The governing bodies make it difficult by enforcing strict rules and demanding ad hoc reports. Our team of professionals assists you in establishing a successful FP&A practice.

Our Services For Pharma & Life Sciences Industry

Technology Consulting
Technology Consulting

Our techno-functional experts use their extensive pharma knowledge, reliable methodology, and strategic frameworks to help you choose the technology that best suits your company's needs in the ever-evolving healthcare sector. Our industry professionals in the pharmaceutical sector help you use analytics to overcome the most pressing challenges.

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Data Management
Data Management

The problem is to efficiently use the data to gain a competitive edge despite the massive data volume generated every day. Thanks to our all-encompassing data management approach, which enables users to identify issues with data quality and immediately fix them. Pharmaceutical industry leaders may achieve results more quickly and effectively with data management techniques.

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Data Analytics
Data Analytics

Every drug development business needs data evaluation, from manufacturing to patient trials to supply and market demand trends. Its limited utility results from the fact that it only exists in silos. We assist you in making better business decisions and greatly enhance results by integrating data & analytics in the pharmaceutical industry.

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Business Planning
Business Planning

With a sound business strategy in place, leaders can maximize R&D spending in the pharma segment. In order to guide our clients through a dynamic and complicated environment and improve outcomes, we embrace the idea of agile scenario planning. Clients who prioritize business can accomplish goals without risking time-to-market.

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What Sets Polestar Solutions Apart?

Technology and analytics

In order to re-engineer information strategy and transform data into useful business insights, our winning corporate narrative lays a strong emphasis on technology and analytics. Additionally, these insights are applied to decision-making and long-term business optimization.

Strategy and activation

For our clients' in-market business outcomes, we activate, optimize, and measure customer experiences based on strategy and technology. We assist organizations in capturing real business value by integrating an effective strategy into their operations.

Real-world expertise

At Polestar Solutions, we combine cutting-edge technology with industry-proven healthcare expertise to overcome operational challenges and create unrivaled business value.

Client Success Stories

Global Pharmaceuticals
Global Pharmaceuticals firm achieved (T-1) variance reporting by reinventing financial budgeting and business planning with Anaplan

The pharma firm was struggling to support the growing business complexities and incongruities in its budgeting process. See how we helped them switch to an agile planning solution that brings every business stakeholders on a single platform.

READ MORE

Explore Pharma Analytics Trends & Insights

Frequently Asked Questions

Owing to the growth, the pharma industry is becoming more patient-centric and realizing the value of patient outcomes, improved safety and efficacy, connected research and care through better data insights. Analytics in the pharmaceutical industry can be used to synthesize the data and thus drive decision-making. Actions taken based on the data can help increase operational efficiency and create a safer pharmacy practice to ensure better patient care.

Leveraging advanced analytics undoubtedly presents a real and significant opportunity for the pharmaceutical industry. Assembling the right mix of tech, data, and skills can lead to more robust revenue growth and improved operational performance in the business function. Look at some fundamental principles companies should follow for leveraging pharmaceutical advanced analytics:

  • Choose your pharmaceutical advanced analytics battleground and set a bold, quantifiable aspiration.
  • Treat analytics as an innovation capability, not a function.
  • Recognize that analytics takes a traditional and then mobilized approach.
  • Look for the ROI before you jump into technological investments. to make your analytics project standout

Selecting a solution that provides a rapid time-to-value keeps implementation costs down and offers quick access to reliable data. Moreover, it’s essential to consider an analytics provider’s experience and proven success. Since regulations are constantly shifting around data collection, it’s best to work with an experienced and flexible analytics solution provider that can help your organization adapt to change. You can choose Polestar Solutions for such implementations.

Here are a few of the challenges you can look into:

A. Data Quality: Data in Pharma organizations are primarily unstructured and available in many forms. This unstructured data typically contains essential information about patients, staff, and overall performance. So, ensure that the data you want to collect is clean, complete, accurate, and formatted.

B. Data Storage and Sharing: To curate efficient health initiatives and optimal patient outcomes, data must be securely shared across multiple organizations such as - hospitals, research centers, ancillary providers, and more. But, with data sharing comes issues with data privacy.

C. Knowledge Availability: Pharma organizations collect massive amounts of data daily. But, data scientists are in high demand and out of reach for many organizations that lack the resources and skill sets to get the maximum of their data.

Leveraging Pharma analytics for clinical trials can help improve and ensure the safety and efficacy of new drugs for a new borne disease or existing drugs being tested for new indications. Analytics plays a huge role in thorough historical analysis and prediction leading to faster drug discovery, maximize revenue, patient care, and much more.

Gain Value from Analytics & Planning Solutions for Pharma and Life Sciences

Ankit Goyal
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Ankit Goyal

Vice President & Head
Pharmaceutical Solutions

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