When it comes to pharmaceutical brand management, data – and its close cousin, artificial intelligence (AI) – has become the cornerstone for informed decision-making. From understanding market dynamics to predicting patient behaviors, the journey towards data and AI maturity is complex and multi-faceted, requiring collaboration, commitment and support. But tangible improvement in the way brands approach patient care and commercial success makes the quest a valuable one.
The stages of data and AI maturity
Let’s take a look at the four stages of data and AI maturity – Descriptive, Diagnostic, Predictive, and Prescriptive Analytics.
Descriptive Analytics
At this foundational stage, brands use historical data to gain insights into past market performance, with little or no use of AI. Life sciences brand managers rely on these insights to understand trends and patterns, enabling them to create a baseline understanding of their position in the market.
Diagnostic Analytics
In this stage, data is dissected to identify the reasons behind past successes or failures. Brands analyze factors that contributed to certain outcomes, providing insights into what worked and what didn’t. Understanding these factors helps refine strategies and address inefficiencies. There can be exploratory uses of AI seen at this stage.
Predictive Analytics
Moving forward, predictive analytics leverages historical data and patterns to forecast future trends, powered by adoption of AI. Life sciences brands can anticipate market shifts, patient behaviors, and product preferences, optimizing their strategies to stay ahead of the curve.
Prescriptive Analytics
This advanced stage involves generating actionable recommendations based on predictive insights – this stage could be said to be driven by AI. Life sciences brands receive tailored guidance on strategies, enabling them to make informed decisions that align with patient needs and market dynamics.
Many life sciences teams today find themselves in the Descriptive Analytics phase of the data and AI maturity model. These teams typically rely on basic reporting tools and internal business intelligence teams to gather and visualize data, which gives them a foundational understanding of their current state.
However, the limitations of Descriptive Analytics become apparent as they seek to extract deeper insights for strategic decision-making, particularly when it comes to deriving business value from AI.
As the industry shifts towards patient-centric approaches and data-driven insights, pharma teams are realizing the need to progress beyond mere reporting and delve into the realms of Diagnostic, Predictive, and Prescriptive Analytics …analytics capabilities often driven by AI. This evolution is essential to unlock the full potential of patient data and AI, align patient care with market success, and drive transformative changes in the way both patients experience and brands enhance healthcare.
The challenges of evolving into AI-forward brand management
Navigating the stages of the data and AI maturity model in life science brand management is not without its challenges. Moving from Descriptive Analytics to Diagnostic, Predictive, and Prescriptive Analytics involves a shift in mindset, infrastructure, and skill set.
The initial challenge lies in breaking free from the comfort of hindsight-based insights provided by Descriptive Analytics. The dominant use of sales data is a common characteristic of teams operating at a predominantly descriptive stage. As teams look to move towards Diagnostic Analytics, they must grapple with the complexities of uncovering the “why” behind trends and patterns, requiring more advanced analytical and AI tools and expertise.
Transitioning to Predictive Analytics demands access to high-quality data and the development of sophisticated, machine-learning (ML) powered predictive models, which can be resource-intensive endeavors, requiring significant amounts of collaboration and considerable investment in both tools and people.
Perhaps the most demanding leap comes with Prescriptive Analytics, where pharmaceutical professionals must embrace the responsibility of not only predicting future outcomes but also recommending actionable, compliant strategies to improve patient care and market share. This stage often requires cross-functional collaboration, blending medical expertise, data science, and business acumen to ensure the right interventions are identified and executed. Additionally, there’s the challenge of data governance and compliance, ensuring patient privacy and regulatory standards are upheld throughout the data journey.
Progressing through the data and AI maturity model necessitates not only technological advancements but also organizational alignment and a culture of data-driven decision-making. The challenges are significant, but so are the rewards – the ability to empower pharmaceutical brands with patient-centric intelligence, drive better patient outcomes, and optimize commercial success.
Navigating data and AI maturity with patient-centric intelligence
As pharmaceutical brands progress through the stages of the data and AI maturity model, the adoption of a patient-centric intelligence platform emerges as a vital compass. Patient-centric intelligence not only accelerates the journey through Descriptive, Diagnostic, Predictive, and Prescriptive Analytics but also amplifies the value generated at each stage.
In the early stages of Descriptive Analytics, patient-centric intelligence provides a holistic view of patient behaviors, interactions, and market dynamics. This foundational understanding forms the basis for subsequent stages, offering insights into what has happened and why, driving the transition into Diagnostic Analytics. Here, patient-centric intelligence shines by unraveling the complexities of patient journeys and uncovering the drivers behind trends and outcomes, enabling teams to gain a deep understanding of patient behaviors and treatment pathways.
As pharmaceutical professionals advance to Predictive Analytics, the use of patient-centric intelligence becomes an even more critical factor. Harnessing historical patient data, enriched with real-world insights, empowers predictive modeling, helping teams anticipate patient behaviors and market trends. This capability guides strategic planning, optimizing decision-making for medical, marketing, and sales strategies.
At the pinnacle of the maturity model, in the realm of Prescriptive Analytics, patient-centric intelligence transforms into a true strategic partner. The right platform’s robust data infrastructure and AI-driven capabilities enable the formulation of actionable strategies to improve care-and-share—patient outcomes and market performance. With a clear understanding of patient journeys, behaviors, and treatment patterns, pharmaceutical brands can confidently prescribe interventions that maximize both patient care and market share.
A faster journey to become a data- and AI-powered brand team
Patient-centric intelligence can accelerate the journey through the data and AI maturity model by providing more accurate, granular, and contextual insights into patient behaviors, treatment journeys, and market dynamics.
This level of detailed understanding enables pharmaceutical brands to quickly move from descriptive insights to more advanced stages like diagnostic, predictive, and prescriptive analytics. Patient-centric intelligence offers a holistic view of patient interactions, enabling an ability to decipher underlying causes, to predict future behaviors, and to prescribe optimized strategies.
With patient-centric intelligence, brands can make informed decisions faster, as they have a robust foundation of real-world insight that’s crucial for advanced analytics stages. This efficiency in moving through the maturity model ensures that brands can swiftly adapt to changing patient needs, market dynamics, and competitive landscapes, driving improved patient outcomes and commercial success.
Prospection’s Patient-centric Intelligence Core powers a range of products and services that help life sciences brand teams uplift care and share. Submit a request to learn more.
