What will the market share of my products be in the next 6 months? Which market will be the most profitable? We have surely asked ourselves these and other questions as we plan the best strategies for our business. Thanks to a strategy based on data we can know the current and future behaviour of the markets in which we are present from a multitude of perspectives. Who does not want to be able to see the future to anticipate the challenges of the business?
Today, many companies need to modernize and expand their Data & Analytics solutions to run their business in a more innovative and efficient way. Once we have the necessary technology and knowledge, we can take advantage of the data and transform it into valuable information to make the best decisions for our business.
I would like to share with you a project that we have worked on with Daiichi Sankyo Europe, whose objective was to group and enrich all the existing information on its markets, customers, products and staff performance. They had decentralized applications that produced gaps between different markets, which made it impossible for synergies to be created between countries.
The first step was to integrate the data sources that came from various sources. At the beginning of the project, the KPIs of the different branches in Europe were shown in different dashboards, which did not allow an overview at the European level or make comparisons between them. The challenge was to harmonize the metrics of the different markets to have a common dashboard and unique data that would allow users to get the most out of the business.
Changes that leave a mark
It is important to design a roadmap to create a 360º case of digital transformation of the business, having a defined roadmap will make us work towards the objectives that have been identified.
Creating new interactive and intuitive dashboards, provide a uniform understanding of the market and allows Daiichi Sankyo to know both the positioning of their products and all the sales and marketing activities, which is very important for the optimal management of the business. By integrating all the data from the different markets, management can monitor both national and international targets.
One more step in innovation
When companies have a large amount of data, we need to filter it to draw conclusions and act accordingly. This is where predictive models come into play. At Daiichi Sankyo Europe, they allow us to forecast future evolution, or in other words, we analyze the Market Share forecast on a product and know what the company's positioning will be with respect to its competitors in the different countries of Europe.
Taking advantage of the aggregate sales data of the products, we carried out an analysis of the evolution of the market in each of the European countries in which Daiichi Sankyo have a presence. This makes it possible to obtain the number of patients who consume the product in each of the countries and a forecast of the evolution of the number of patients is generated from which the market share will be calculated.
The benefits for the business are clear:
- Better prediction of demand, which allows us to size the supply chain.
- Holistic view of the business: it is possible to monitor and control the launch of new products in real-time.
- Having a data-oriented culture means that decisions are made based on facts, which allows our clients to monitor and streamline their decision-making.
Innovation is much more than doing new things. This brings real value and makes the day to day easier. Specifically, a Data & Analytics strategy allows us to discover trends and patterns, solve problems, accurately predict the future, and drive change. Access the Daiichi Sankyo Europe success story and discover everything that a 360º digital transformation strategy can bring to your organization.
