Transforming data into business success

A MakoLab solution that successfully increased sales for a pharmaceutical company

Summary

MakoLab’s Data Consulting Service team worked with the client’s sales force to optimise their sales and manage the impact of fluctuations in demand for pharmaceutical products. We developed a flexible model and implemented solutions that included data cleansing, predictive modelling and A/B testing. Integration with the company’s CRM system enabled us to adjust communication and prioritise activities. We identified top prescribers, predicted demand and helped our client to attain a steady growth in sales.

Client

Industry

Pharmacy

Service

Data Consulting Services

Deliverables

Sales growth, creating a strategy based on data

Details

The challenge

The project presented several challenges. The first was leveraging the client’s existing sales force in order to maximise sales potential. This goal had previously been close to unachievable on account of the large quantity of data being collected but used inefficiently.

Another of the challenges in terms of optimising sales was the need to identify the prescribers who are crucial from the company’s business perspective.

Unpredictable fluctuations in demand for key pharmaceutical products were also a major problem, creating complications in planning and inventory management. Here, we needed to solve two issues; unnecessary inventory throughout the supply chain and stock shortages in terms of best-selling products.

The solution

Meeting these challenges meant developing a flexible model with the capability of adapting to changing market and operational conditions. Our work to achieve this included:

cleansing the company’s current data inputs on areas like historical sales and the regionalization of sales representatives, for instance;
enriching the data with additional information, such as details about diseases in specific regions and current trends;
conducting in-depth research into doctors’ operational methods in order to adapt modes of communication and prioritise activities effectively;
establishing precise data analysis and the regular delivery of knowledge through forecast results and reports to facilitate the identification of crucial prescribers;
developing predictive models;
creating a system for anticipating demand in order to respond to current needs by reaching out with offers to the right doctors and pharmacies at the right time and in the right places;
testing our strategy with A/B testing;
integrating our work with the client’s CRM system, enabling us to include dashboards for generating activity tips.

Key results

The precision data analysis, forecast results and reports that we set up are identifying crucial prescribers
The company now has the capability of anticipating demand and reaching the right doctors and pharmacies with product offers that meet current needs
The effective management and flexible strategy we designed and implemented have enabled the company to achieve a constant growth in sales