Pharma sales data
Using tableau with iqvia drug data
Medication discovery, development, manufacturing, and distribution are all handled by the pharmaceutical industry. Pharma sales worldwide totaled 1.25 trillion US dollars in 2019, indicating that the industry has grown significantly over the last two decades.
The pharmaceutical industry is dominated by large multinational corporations. Pfizer is one of the world’s largest pharmaceutical firms focused on the prescription drug market. In 2019, the company, which is headquartered in New York City, reported total revenues of around 51.7 billion US dollars, the majority of which came from product sales. Johnson & Johnson, Merck & Co., and AbbVie are among the top global players from the United States.
Since many of the world’s leading pharmaceutical firms are based in the United States, it’s no wonder that the country has the world’s largest pharmaceutical market. China has emerged as a major player in the industry, with the emerging pharma market experiencing high annual growth rates in recent years. However, pharmaceutical revenue projections indicate that the developed markets of North America and Europe will continue to lead the way in 2023. Novartis, Roche, GlaxoSmithKline, and Sanofi are some of the leading European pharmaceutical firms.
Iqvia sales view – pharma industry intelligence and
Increased regulatory scrutiny, increasing R&D costs with declining efficiency, increased digitization in the supply chain, and other challenges face the pharmaceutical industry today. The cloud, mobility, and social media are increasingly being considered by the industry to reduce internal costs, promote the convergence of knowledge and processes across divisions, and improve client profiling.
In the marketing/sales department of a company, there are silos of business data. There are hidden gems in this info. It contains data that can be used to more accurately target the right audience, increase sales productivity, and predict the future of the company. We use business analytics to derive these insights from massive, unorganized datasets.
To perform some research, the data included product and location names, as well as different division names in each state, units of the product sold in each division of each state, Sales Months & Year, Month in which the product was ordered, and Regional Sales Manager Name of the corresponding country, as well as their target value provided by a pharmaceutical company.
Intelligence application for pharma sales
ValueTrak is a cloud-based platform for pharmaceutical companies that allows for proactive order management, inventory management, delivery management, and more. We analyze and process channel and prescription data, providing timely and reliable information, observations, and data management services.
Your data is stored in our cloud, allowing you to access it from any computer at any time. ValueTrak integrates easily with your ERP framework and business intelligence software, and our personalized reports can be circulated around your company.
Pharmaceutical companies can achieve a more holistic view of the patient experience by working with data aggregators that have access to a wide range of data sets from a variety of sources.
Power bi solution showcase: pharmaceutical sales analysis
Previously, pharmaceutical firms would expend money on costly, wide-scale product marketing through lengthy doctor visits. According to a recent survey, 87 percent of respondents intend to increase their use of analytics to better target spending and increase ROI. Any of the money would almost certainly go into tracking physicians’ therapeutic preferences, regional patterns, and peak prescribing rates – everything that has a direct impact on the sales cycle. Predictive approaches are being used by drug marketers to decide which customers and doctors are more likely to use a drug, allowing them to develop more focused on-the-ground marketing campaigns. Pharma firms are offering mobile devices to drug reps as well as real-time analytics on their prospects. Reps will then adapt their agenda to the doctor’s preferences. After that, the sales team will evaluate the results to see if the strategy was successful.
How do businesses incorporate and analyze mountains of data to get a 360-degree view of their customers without resorting to time-consuming and manual processes that draw resources away from their core business?