With the ever-growing list of reporting systems, and the plethora of data which needs to be properly sifted through to discover any real insight, is it any wonder that the Pharma industry is suffering from an extended bout of data paralysis?
In my last post, Mastering Multichannel in Pharma: How to avoid data paralysis, I explained the pros and cons of three alternative solutions for effective data management. Pharma are at the beginning of their journey to mastering multichannel marketing, therefore, Solution 3 - leaving your data where it is, and using a new system to combine and create bespoke reporting, is the best way forward for most companies.
The advantages of Solution 3 are that you can move your company slowly up the maturity model by firstly giving you better data and secondly increasing the scope of what you are reporting on (not just one source of data at a time). Most importantly this should massively reduce the effort you and your colleagues put into collating all that data.
As you have a tool with all your reports included, it is not a stretch of the imagination to see that you could create bespoke reports for management that will give them good overviews of how you are performing against your target. This will increase management buy-in for your work and may help you to get extra budget for your marketing activities.
What we’ve done at Blue Latitude is create a simple add-in for Excel (because everyone wants the data in Excel in the end anyway) that allows us to create multiple views of the same sets of data in the background. There is also a useful PDF exporter so you can send a dashboard over to your boss.
We automate the collection and processing of the data as much as possible, so that it is simple for us to add to each day, week, month, quarter or whatever your reporting period is. The data sits on a secure server, you open the add-in, log in and all the reports are right there in front of you, plus all the historic data.
What’s more, the tool allows for different ‘views’ of data, allowing for several versions of dashboards for different parts of the organisation, from the simple views for management to the deep diving data for the person who has to optimise. Plus, we can make use of Excel’s graph functionality so that you can visualise the data in a way that allows you to see how it is performing now and historically.
Once you’ve got to the point where your organisation feels that it can make use of a customer view of your data, then that is the point when you can move on to Solution 2: integrating data sets with unique identifiers.
For more information on effectively measuring your campaign’s effectiveness and ROI, get in contact by email or call 0203 328 1840.
This post was written for Blue Latitude by optimisation expert Alec Cochrane.