Business Intelligence: What Organizational Value Are You Creating?

Main Category: Conferences
Also Included In: Pharma Industry / Biotech Industry
Article Date: 03 Feb 2009 - 0:00 PDT

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The problems facing the traditional pharmaceutical model are myriad in number and daunting in complexity. Among all the pressing issues of sales rep inundation, dilution of efforts, the ethics of CI and the integration of intelligence functions. It's is now clear that the pharma industry needs to re-address the model before it can effectively move forward.

As the news reaches us that Pfizer are set to buy $68 Billion worth of shares from Wyeth, the pharma community are analyzing if this is a smart move to cure the dwindling pipeline or a rash move resulting in overlapping costs.

Michael Zubey writes in an article "The pharmaceutical industry is in a great period of change. There is increased competition in specialty therapeutic areas such as oncology, and generic drug manufacturers are increasing competition in the broader therapeutic classes such as cardiovascular (CV). Additionally, there is increased scrutiny on drug prices. The pressure on the drug prices is forcing pharmaceutical organizations to rethink their commercial models for promoting drugs in the marketplace. There is a greater focus on executing business processes more efficiently to reduce overall drug costs and also to outperform the competition: "Invest less and still outperform the competition" is a tough mandate for any company." Source: B-eye Network

A tough mandate indeed… But utilizing Business Intelligence efficiently by addressing a few questions is key questions may be a critical point in producing accurate intelligence strategies that the organization can implement throughout it's business in this period of change.

Zubey describes the key points as;

- Are the underlying internal data sources for the BI system accurate?
- Are the proper business rules in place to ensure data accuracy?
- Have you reviewed the data capture and forecasting practices of your third-party data providers?
- Do you have an internal data governance structure that ensures proper usage and forecasting practices within your business intelligence community of users?
The 2nd Global Business Intelligence Summit, March 18-19th, Princeton, New Jersey addresses these issues head-on and presents best practices in meeting these challenges.

eyeforpharma have partnered with the pharmaceutical industry to produce a high-level event with expert industry speakers and the most up-to-date and relevant program in the industry.

For more information visit http://www.eyeforpharma.com/gbi

Eye for Pharma