- Solution overview
Commercial analytics in life sciences
Giving sales and marketing teams the power of insight and prediction
The life sciences industry is undergoing a next-gen transformation, with artificial intelligence (AI), data, and digital technologies presenting opportunities to enhance experiences across the value chain. Our commercial analytics solution harnesses these technologies to help life sciences companies navigate the complex challenges of today's fast-paced and competitive business landscape and identify opportunities for growth. The ultimate aim: to improve the quality of people's lives.
Harnessing commercial analytics helps companies address challenges such as:
1. Commercial transformation
The shift towards digital channels in marketing, sales, training, and services presents a significant challenge for enterprises. As inflation, price pressures, and data complexity accelerate transformation, companies must adapt their strategies and operations to effectively engage with customers in the digital realm
2. Numerous launches
Companies are launching more brands and indications as reliance on blockbuster drugs diminishes and the development of innovative medical devices increases. Navigating multiple product launches with different target audiences and messaging needs inevitably complicates marketing strategies
3. Sales complexity
The expansion of channels, data, and content introduces significant complexity into the sales process. Companies must manage and align these diverse elements effectively to streamline operations and meet increasingly high customer expectations through personalization
4. Data and tech ROI
It can be challenging to make the business case for spending on data and technology because the long-term benefits and returns from these investments are not easy to measure. For example, many enterprises struggle to link expenditure directly to improved patient outcomes and operational efficiencies, making it difficult to justify and optimize their technology budgets
5. Artificial intelligence
The mainstream adoption of AI presents a challenge for enterprises. To keep pace, they must embrace advances in machine learning (ML), generative AI, and data operations alongside employee upskilling. A strategic approach is critical to leverage the full potential of these technologies
To overcome these challenges and thrive in the future, companies must equip themselves with robust commercial analytics capabilities that empower sales teams and leaders.
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Our solutions
With over 2,000 analysts and more than 30 life sciences and healthcare clients, Genpact is uniquely equipped to address evolving challenges. We apply our in-depth knowledge of commercial analytics solutions in the life sciences industry to help enterprises deliver unparalleled outcomes. These include:
1. Omnichannel frameworks
We help clients integrate data and communications across all channels, from digital platforms to in-person interactions with healthcare providers and professionals. This helps us create a comprehensive and transparent view of sales and marketing activities to fully understand the customer journey. We then personalize and orchestrate channels to deliver the right messages to the right individuals at the right time. Our customizable approach unlocks insights that can inform decision-making, boost agility, and ultimately lead to growth
2. Marketing analytics
Our data-driven approach improves campaign and launch analytics while also monitoring the competition and media. The result: by aligning marketing and digital strategies with patient needs and outcomes, companies gain enhanced marketing efficiency, resource allocation, ROI, and improved patient outcomes
3. Business intelligence
Insights into market trends, competitive intelligence, social media listening, and real-world evidence enable more precise forecasting and strategic planning. This helps companies streamline product launches, marketing campaigns, and operations for competitive agility. Our gen-AI-enabled solution provides faster, deeper insights on a regular or ad-hoc basis via self-service tools
4. Patient affordability
Our commercial analytics solutions help enterprises identify cost-saving opportunities and improve pricing strategies within a complex regulatory landscape. With better insights into patient demographics, purchasing behaviors, and insurance coverage, enterprises can tailor financial assistance programs and discounts. They can also implement new market access strategies, such as value-based pricing. This targeted approach can make medications and treatments more accessible, improving patient adherence and health outcomes
5. Sales-force effectiveness
With in-depth, real-time insights at their fingertips, sales teams can enhance their go-to-market strategies across channels. AI can add an additional layer of insight through next-best action nudges. For example, with our solutions, enterprises can quickly view task allocation and deploy teams for new launches. Meanwhile, employees can prioritize high-value prospects, personalize communications, and heighten engagement for higher conversion rates and overall market performance
6. Forecasting
By applying AI/ML to sales and epidemiological data, companies can enhance sales and strategic forecasting for early-stage assets as well as for pipeline, launch, and in-line brands
7. Contract management
Our analysis helps monitor and continuously improve contracts by taking corrective actions. We analyze price points and elasticity to strategize competitive prices based on performance. Additionally, our analysis helps in providing a complete view of the gross-to-net (GTN) journey to prevent revenue leakage and optimize levers based on their ROI
Our impact
Our commercial analytics solutions help some of the world's largest life sciences enterprises build best-in-class sales and marketing strategies and teams.
Our solutions have enabled companies to achieve up to:
- 30% reductions in forecasting times
- 5% lower treatment abandonment rates
- 5% increase in prescription volume
- 10% higher patient adherence to treatment
- 25% increase in ROI on specific marketing channels
Our work
Here are three examples of how our commercial analytics solutions have helped life sciences enterprises thrive:
- A major EU pharmaceutical company was looking to identify the right methods to assess its omnichannel orchestration of marketing channels and messaging. We helped it establish a comprehensive process that included thorough data processing, appropriate ML models, and the right key performance indicators (KPIs) to provide deep insights. Our approach aided in bringing about a threefold increase in the impact of omnichannel activities compared to organic efforts. And the automated process delivered quarterly insights across brands to enable faster turnaround
- A major pharmaceutical client was producing intelligence reports by manually synthesizing various online sources. We implemented gen AI to create an automated intelligence report with additional features such as automated alerts and emails. Our solution consisted of automatic data crawling, curation, summary creation, categorization, and prioritization, as well as a user-friendly interface
- We helped a global eye care company standardize its incentive compensation process by implementing a digital platform, streamlining rules, and automating data processes. This cut the process costs by 50%
Over the past 20 years, we've delivered several commercial analytics projects for life sciences and healthcare clients, helping them gain over $800 million in profits from the work.
Why Genpact
Our analytics professionals drive profitability, agility, and scalability for Fortune 500 clients around the world. Our ecosystem of over 15 world-class technology partners allows us to deliver end-to-end solutions and tangible results, with capabilities extending across data, IT infrastructure, customer relationship management, AI, and beyond.
It's our business to know your business and needs. We implement full-service, end-to-end solutions that help you design roadmaps, augment staff, bridge skills gaps, and build a digital infrastructure with analytical tools.
We collaborate with you in making better decisions, which contributes toward improved productivity and profitability. It's the reason our client relationships go the distance, with some lasting over 20 years.
Learn more about our solutions for life sciences companies
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