Clairvoyance- Many projects, one dashboard

Executive dashboards for pharmaceutical companies

Executive dashboards transform pharmaceutical decision-making by consolidating critical data into real-time, visual insights across R&D, sales, and operations. These empower leaders with accurate, actionable analytics to streamline workflows, forecast revenue, and accelerate drug development.What is an Executive Dashboard? Executive dashboards are business monitoring tools used to track performance across Research & Development, Commercialization, and Sales & Marketing. They provide a single visual representation of KPIs and critical metrics relevant to business. These dashboards serve as a centralized hub, aggregating data from various departments such as sales, research and development, manufacturing, regulatory compliance, and more. Let us dive deeper into pharma Executive Dashboards Pharma projects are complex and extensive, and each drug may take up to 10-15 years to reach the market. In such a scenario, there would be huge amounts of data to analyze while making crucial decisions such as setting priorities in resource allocations, calculating pre-commercial revenue forecasting, analyzing market trends to design the most profitable commercialization strategies. Manual processes often cause errors and are time-consuming. They may also not have the capacity to retrieve real time data breaking data silos and disparity. Digital solutions tailor-made for specific business needs not only solve data silos and disparity problems,but also save time by reducing manual efforts. Cloud computing ensures scalability, and machine learning enhances forecasting in Pharma Portfolio Dashboards. These dashboards are accessible on various devices and have strong security measures. Customization options cater to specific organizational needs in Pharma market research, fostering insightful analytics. Digitalized Pharma Portfolio Dashboards are the best example of how technology can foster confident data-backed decision-making. How Portfolio Executive Dashboards are helpful in Pharmaceutical Industry? Portfolio Executive Dashboards play an essential role in enabling decision-making within the pharmaceutical industry. These sophisticated solutions provide a consolidated view of critical performance indicators, integrating data from various facets of the business. Pharma Executive Dashboards enable smooth informed decision-making for executives, offering insights into sales metrics, research and development progress, manufacturing efficiency, and regulatory compliance. Pharma executive dashboards serve as real-time visual representations, allowing executives to identify trends, assess risks, and capitalize on opportunities seamlessly. By incorporating pharma market research analytics, these dashboards not only offer retrospective insights but also guide future strategies, ensuring portfolios align with evolving industry trends and customer needs. Types of Pharma Executive Dashboards These executive dashboards leverage data visualization and analytics to provide decision makers with a holistic view of various aspects. Here are some types of executive dashboards used in pharma portfolio analysis: 1. Project Portfolio Management (PPM) Dashboard The Project Portfolio Management (PPM) Dashboard streamlines project oversight by offering a snapshot of project status, resource allocation details, risk tracking, financial insights, and an overall health score. This concise executive dashboard facilitates proactive management, ensuring optimal resource utilization and budget adherence. The portfolio health score, derived from key performance indicators, provides a quick assessment of the project portfolio's overall well-being, empowering decision-makers with essential insights for strategic and effective portfolio management. 2. Revenue Forecasting Dashboard The Revenue Forecasting Dashboard is a pivotal tool for strategic decision-making in revenue planning and strategy development by providing real-time sales projections. Through market trends analysis, it integrates competitor insights, market share data, and identifies emerging opportunities or threats, and ensures a focus on sales volume, market penetration, and customer feedback. 3. Clinical Development Dashboard The Clinical Development Dashboard offers insights into trial progress and timelines, providing a detailed overview of milestones and potential delays. Patient recruitment metrics track recruitment, helping to identify challenges and opportunities for improvement. It ensures adherence to regulatory requirements, guaranteeing a robust clinical development process. Safety and adverse event reporting keeps a vigilant eye on trial safety and provides timely monitoring and reporting for effective risk management. 4. Supply Chain Management Dashboard Supply Chain Management Dashboard ensures seamless operations offering real-time insights into inventory levels and guarantees adequate supply to meet demand. Supplier performance is rigorously evaluated, tracking delivery times, product quality, and compliance with regulatory standards. Leveraging historical data and market trends, the demand pharma forecasting feature optimizes product availability, enhancing overall supply chain efficiency. Benefits of Digitalized Executive Dashboards for Pharmaceutical R&D Technology backed executive dashboards offer a myriad of benefits for pharmaceutical Research and Development (R&D) organizations, enhancing efficiency, transparency, and decision-making processes. It includes: A comprehensive and real-time overview of R&D activities, consolidating Key Performance Indicators (KPIs) such as project timelines, resource utilization, and success rates.By centralizing data from various R&D processes, executive dashboards enable decision makers to identify bottlenecks, allocate resources effectively, and streamline workflows. This enhanced visibility facilitates proactive decision-making, allowing organizations to respond swiftly to challenges and capitalize on opportunities.Executive dashboards help in monitoring the progress of clinical trials, ensuring adherence to timelines and regulatory requirements.They enhance collaboration by providing a shared platform for cross-functional teams. This fosters communication and alignment of goals, accelerating the pace of drug development.With an executive dashboard, decision makers can quickly access and analyze a comprehensive view of the entire pharmaceutical portfolio. This expedites the decision-making process as executives can make informed choices based on up-to-date information, reducing delays, and improving overall efficiency.Automation reduces the reliance on manual data entry and manipulation, significantly decreasing the chances of human errors. This ensures that the data presented on the analytics dashboard is accurate and reliable, providing executives with confidence in their decision-making. As a pioneer in pharma data analytics and visualizations, team i2e engineered Clairvoyance- a custom Executive Dashboard Application tailored specifically for the pharmaceutical industry. This application offers a consolidated view of the client’s R&D project portfolio, providing executives with a powerful interactive tool for data-driven decision-making. This custom solution delivers a robust data quality verification platform and offers the analysis and visualization features needed to tackle the various problems the client was experiencing. The Clairvoyance custom dashboard platform can help the R&D leaders to align portfolio performance with their business goals. i2e Consulting helps global pharmaceutical companies to access insights and prepare decision dashboards tailored to their unique business requirements. Embrace the power of Clairvoyance, a cutting-edge decision management solution. Contact us now and seize the future of pharmaceutical innovation by optimizing, strategizing, and thriving with Clairvoyance.

How digitization in SMB pharma can reshape the industry

In recent years, the pharma industry has witnessed a noticeable rise in the number of small and medium-sized pharma companies (SMBs) in drug development. However, many SMBs face operational issues and competitive pressures which are major roadblocks to showcasing their full potential. Digitalization innovation in SMB pharma could be the answer to some of these issues, as it can help SMBs to achieve not only operational efficiencies but also assist in making informed decisions, better data management, and cost-cutting. In this blog, we will tell you about the various areas where digital innovation in SMB pharma can happen. Drug discovery Drug discovery is a complex process that involves numerous time-consuming steps. It is also one of the major undertakings for pharmaceutical companies which has a low success rate. Technology can help companies to accelerate certain mundane tasks in the drug discovery process, thus helping them to focus on other core activities. So, what are the possibilities for digitalization in the drug discovery process? Deep learning algorithms to predict the molecular properties of chemical compounds. Machine learning helps in decreasing drug failure rates during clinical developmental stages.Neural networks can automate challenging tasks like distinguishing diseased cells from healthy ones.Neural networks are also helpful in predicting the absorption, distribution, metabolism, and excretion (ADME) of molecular compounds.Algorithms can also predict new ideas for molecules that can be useful to treat new diseases. This helps the drugs to reach clinical trials much quicker.Clinical trials The clinical trials process is crucial for a drug to reach the consumer, however, the average dropout rate of a drug from a clinical trial is almost 30%. SMBs can minimize this dropout rate by including technology in the various aspects of clinical trials. Data science and natural language processing can be used to scan huge medical databases and extract useful information to optimize the clinical trial process.Electronic health records (EHRs) have become the new standard that can reduce errors, enhance workflow efficiency, and refine healthcare coordination.Digitalization of the patient's health records made it easy to screen and select accurate patients for the clinical trials.A combination of cloud software and wearable devices helped monitor patient vitals and alert the medical professionals about any anomalies.Specialized applications can decentralize the clinical trial process, which may help in improving patient satisfaction and engagement.Drug Manufacturing Small and medium-sized pharma companies often battle with operational issues such as lower capacity utilization, quality control, and breakdown issues in the plant. Technology can help organizations bridge the gaps and achieve operational excellence in drug manufacturing. Here is how you can do it Internet of Things (IoT) helps in connecting all the stake holders in real-time. This will help SMBs to make sure the high demanded drugs are manufactured at the right time.IoT sensors embedded in the manufacturing units can pave way for predictive analytics.Data analytical tools enable real-time monitoring of critical variables of the production line.Getting real-time data from all the manufacturing equipments provide valuable data for making data-driven decisions to achieve superior quality control.Commercialization Effective commercialization process ensures the drug reaches the right consumers at the right time. The traditional drug marketing process is time taking and is not based on real-time information. Multi-channel marketing automation can provide many consumer touchpoints and deliver personalized marketing messages. You can market your drugs better using technology as below. AI-powered analytical solutions can predict consumer behaviours, this might help the customer representatives to schedule the meeting with the right doctor at the right time and place.Digitalization helps to consolidate all the pharma marketing workflows into one system, which allows anyone in the sales channel to get the full picture.Using analytics, sales representatives can segment doctors and send customized marketing messages.Digital solutions can also help sort, clean, and tabulate the huge marketing data making it easy to get actionable insights.IT Requirements One of the major hindrances for pharma SMBs to adopt digitalization is the lack of IT skills and knowledge. Pharma companies need not spend time and effort learning IT skills, they can partner with IT consulting companies to do the work for them. This way the SMBs can focus more on their core business activities. Here are some IT services that can help. IT service partners can help set up the cloud infrastructure and integrate your legacy systems into it.They would implement some of the best practices of IT when it comes to data management and security.From employee onboarding to exit, the IT services partner can handle all the requirements related to technology.They would also provide support, maintenance, and would also guide you through all your IT requirements. Going forward digital transformation in the pharma industry is going to be the norm. The companies that can adapt to these changing circumstances will have an edge over others on the market. With new diseases coming up, the pharma industry is under a lot of pressure to create affordable drugs with a quick turnaround time. However, the pharma industry is also one of the few industries that is governed by stringent rules and regulations. Digitalization can also help SMBs to stay compliant with the regulations while achieving operational excellence and a good turnover rate. Need for information on SMB pharma digitalization? Connect with us.

How Digital Transformation is Changing Pharma & Healthcare Industry - i2e Consulting

Everybody is going digital and for all the good reasons. Before getting to the nitty-gritty of digital transformation; let’s define digitalisation. In a broader context we can define digitalisation as change in business process of a company to incorporate technology into their workflow. In other words, when a company uses technologies like cloud computing, social media, analytics to run everyday business they are digital.4 ways digitization is transforming pharma and healthcare industries 1.Power of Data: Data is the new age gold. Digitalization of businesses around the world have resulted in swathes of data. Such data, when consolidated by technology, is referred to as big data. Today millions of physicians, R&D professionals, healthcare facilities can rely on this data for decision making. Big data lays foundation for research and drug discovery. However, use of big data is not limited to drug discovery; when combined with predictive data modelling big data substantially reduces the cost of drug manufacturing. Clinical trials are getting safer. With the massive amount of information as their disposal pharma companies can market their products better. It would not be wrong to say that the pharmaceutical industry is highly benefiting from this digital transformation.2.Cloud Computing: Cloud computing offers an agile, decentralized, and cost effective storage structure. The data in the cloud is stored across multiple servers around the world in chunks which makes it very secure. You pay as per your storage requirement and upscaling is never an issue. The cloud offers high availability, robust backup and recovery of your data. With this highly elastic storage structure, you can use cognitive analysis in the form of chatbots or simply automate regular menial tasks.3. Hassle free document management: A flexible platform for document management is necessary for efficient functioning of a business. Traditionally, this was difficult to maintain and was expensive. Collaborative platforms like SharePoint help share, store, archive and manage electronic documents with ease. Pharmaceutical companies require a document management system mainly for two reasons: firstly, cohesive collaboration without IT support, and secondly, to consolidate the surplus legacy data acquired over decades. Several global pharmaceutical companies are deploying SharePoint to manage documents.4.Transparency in Supply Chain: Lack of proper computer systems, multiple ledgers, high dependency on third parties were some of the common concerns of pharmaceutical companies. Often the end sale records were disputed. However, with the introduction of blockchain, supply chain logistics no longer faces such issues. The data is real time and visible to all concerned parties. Everybody shares the same version of the ledger. This newly achieved transparency helps companies share their philosophy with their consumers. Keep track of the integrity of assets right from their creation till delivery to the end-user.To wrap up, digital transformation is an opportunity to reduce cost improve efficiency of your business. Many companies have adopted to this change, and there are many who most certainly will when they realize the power digitization holds to take their business to new heights.We at i2e, specialise in information management systems. We offer solutions to move business into the cloud and deliver blockchain-based solutions to cater to their needs.