Prospection recently commissioned a Forrester Consulting study, to conduct a “The Total Economic Impact™ of Prospection.” Forrester conducted interviews with Prospection clients in Australia and Japan, to collect data to understand the business benefit they receive as a result of our work.
Potential clients often ask us what value and benefits Prospection delivers to companies who invest in our health analytics technology and services. A reasonable request from any buyer when deciding where best to allocate budget and ensure an ROI that produces high value to their business. Rather than give you our opinion, our existing clients are best placed to offer an independent assessment of Prospections value within their business.
Executive Summary
Data-driven decisions are crucial to public health improvement and business development for organizations in the healthcare industry. Pharmaceutical industry leaders are eager to leverage innovative data analytics to make long-term investments in operational efficiency, data-driven drug discovery, and patient centricity. Partnering with Prospection empowers patient-level insights to drive business outcomes and promote social wellbeing.
Key Findings
“Prospection has powerful specs to manage big data updates on the platform and run complex programs, which improved efficiency for our DA team… We can now spend more time on deep-diving the dashboard.”
Senior commercial analytics & insights analyst, pharmaceutical
Quantified Benefits
Three-year, risk-adjusted present value (PV) quantified benefits for a composite organization offer 419% ROI and payback <6months.
- $1.19M Increased revenue from improved sales and marketing activities.
- Improved efficiency in making internal decisions.
- Data processing and analytics efficiency.
Unquantified Benefits
- More robust and reliable business cases guided by patient-level data driven insights to identify growth opportunities.
- Improved patient experience guided by granular patient insights that inform patient-centric business decisions.
- Reliable partnership that serves as a bank of knowledge, bringing data to life with Prospections exceptional clinical & industry understanding.
- New data driven working norm, self-service platform empowers employees to drive excellent results on their own through insights discovery
“By understanding the market better, you therefore make more informed commercial decisions and patient centric decisions.”
Head of marketing analytics and business intelligence, pharmaceutical
Read the commissioned study conducted by Forrester Consulting, “The Total Economic Impact™ of Prospection.” Contact us here.
