What is it?
WorkSure team of
doctors and IT professionals have developed an application, named Sci-Précis,
to produce the real time insights for the pharmaceutical drugs or medical
devices. This app will have many features such as tracing of product
(drug/medical device) feedback, conducting market research, obtaining
scientific view points on drugs/devices, measuring KOL perception and data
analytics. Sci-précis will obtain access to valuable data (including
collaboration with third parties, academics, providers and payers) and then
unique granular insights will be developed after merging advanced analytics with
visualization and creative technologies. It will shift the strategy base from
share of voice to share of insights.
Why this is important?
Pharmaceutical launch
is the most critical period of the product cycle as in 85% of cases the product
trajectory is set in first 6 months.
Traditionally, inflexible commercial model and limited real-time
insights made the dynamic monitoring of pharmaceutical companies performance
impossible. With continuous growth in competition, many well planned products’
launch requires swift changes. Today challenges are different. Even product
marketing have become more complex and requires more diverse and dynamic process
such as granular, real-time insights and rapid reaction. Companies require a
fine grain monitoring of local deviations and detailed understanding of local
adoption pattern. The wealth of data available from social media platforms,
clinical databases, online claims resources, etc., have enhanced the ability of
an industry to smartly respond to market complexity and enable the
implementation of leading strategies from other industries. In this era, basis
of competition have shifted from share of voice towards share of insights.
What do I need to know?
Sci-précis will obtain
access to valuable data (epidemiology, product efficiencies and pitfalls, other
strategies) and then unique granular insights will be developed after merging
advanced analytics with visualization and creative technologies. A real-time
experience tracking method has been long sought by many companies to capture
products performance immediately, reduce the loss and minimize bias. We believe
a product perception in real time can gain insights that can be quickly
interpreted. In the fast-changing environment this will be highly beneficial
approach during product launches and marketing campaigns. Without the ability
of rapid responses with impactful actions, even good insights make the launches
and marketing more ineffective and expensive. Sci-précis will flag any
potential plan deviations and give the chance to quickly launch corrective
course actions. Companies that are able to convert real time insights into
rapid corrective actions are able to prioritise the risk and reduce the
response time. Furthermore, a
cross-functional design making process is created which is so efficient and
effective that is enables rapid commercial tactics adjustment in response to
distribution hurdles, customer’s reactions and competitor’s actions.
What
could a Pharmaceutical/Medical device/ Biotechnology/Nutraceutical Industry
take way from this?
There are 3 main areas
in which by using the wealth of data an industry could accelerate their launch
marketing and marketing strategy using Sci-précis:
- At patient, prescriber and locality level launch or marketing plans can be individualised by developing differentiated granular customer insights
- The insight monitoring rhythm will be
adjusted in such as way that if any deviation is flagged, the corrective
actions can be employed at the right time
- This app will also store the full growth footprint and life cycle of key assets to build a more capable and sustainable launch or marketing strategy model.
