Making Sense of Data
Each month the firm received IMS Health information through large datasets in excel workbooks. Vast amounts of data were scrubbed, prepped, analyzed, and presented by the analytics team. The team generated extensive reports to present their findings to the sales field force comprising 8000+ medical representatives and their respective managers.
The traditional reporting system failed to highlight important insights related to outliers, anomalies, and emerging trends if any. Also, the time taken in data-preprocessing, analysis, and reporting led to a time lag in market evaluation by almost a week.
Key Problems Identified:
- Time lost in data cleaning and preprocessing.
- Lack of personalized reports across team hierarchies.
- Complex reporting style required data interpretation and hindered comprehension.
- Inability to identify hidden trends and insights from data reported.
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Transforming Data into Actionable Insights
- The solution was an automated yet agile reporting system that delivered actionable sales insights, easily understood by the entire sales team, regardless of position and expertise.
- Phrazor enabled the data analyst team to replace manual reporting with seamless automation.
- The team could now produce reports with dynamic commentaries using natural language generation technology
- The reports generated were personalized and documented written insights from the research data.
- This included a detailed competitive analysis of high contribution brands; information related to average and non-performing brands; and forecasts and recommendations based on predictive analytics.
- Distributing the reports also became a lot simpler with easy access provided through multiple sharing options as pdf/ppt files, email newsletters, and WhatsApp updates.
- The division could identify top-performing and non-performing regions based on actual sales vs monthly targets. This helped evaluate performance effectively.
- A transformation — from a manual process that took up a ton of time and effort with no guarantees of providing accuracy or actionable insights — to an automated, swift process providing personalized reports at scale with insightful commentary on performance, peer comparison, and what next.
- Empowered Med Reps to use data to their advantage without having to interpret it.
- It provided consistent and comprehensive reporting of key business metrics.
- Research presented as insights in natural language prevented data misinterpretation.
- Reports provided critical inputs and insights for decision-making and corrective course action.