Artificial Intelligence is a rising star - meteoric, actually - in most industries, including pharma. But, do you really know how pharma AI can affect your business?
There's no denying that the right pharma industry is a constantly changing, fluid environment and it's often difficult to find your rightful place within the industry.
A key component of any company is sales. The product or service must be sold in order for the business to continue running their business.
Pharmaceutical companies aren't immune to this requirement. This is why they run advertisements online, on the radio, on billboards, and on television. Yet, it's not only individuals with conditions and diseases that they need to expose their product to.
Pharmaceutical companies also need to convince doctors that their drugs work and could be beneficial to patients. It's for this reason that pharmaceutical representatives are sent out into the field, to speak with healthcare officials, and showcase the newest drug developments.
You can say it's the season for getting into awkward conversations with people you probably haven't seen since the last holiday gathering. While it's difficult to predict the array of questions you'll be asked, one question you're certain to hear a few times is, "So, what is it that you do again?"
Of course, you can just answer pharmaceutical sales management and let that be the end of it. Or, you could use the opportunity to evangelize that one specific role that has you excited to go to work each day: Sales operations.
The emergence of big data, technological advancements and data science approaches has dramatically transformed industries like retail, finance, and travel.
The Life Sciences industry is no exception.
Companies in the Life Sciences industry have a high-volume of unorganized data sets they aren't aware of that contains hidden actionable insights.
The life sciences industry hasn't fully adapted to new technologies but they've gotten off to a convincing start.
Still, a huge number of enterprises haven't been able to decode the insights because of lack of expertise in pharma data analytics and inefficient pharma master data management.
The pharma industry is undergoing a transformation that's largely being driven by innovation. Innovation not just in products, but also in the way business is conducted, resources are mobilized, and the benefits that the end user experiences.
"Holistic innovation is what Pharma 3.0 is about," says an EY research.
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