Considering the dynamicity of the Pharmaceutical, biotech, and life sciences ecosystem secondary data sources sometimes are not robust enough for smarter decision-making. The data from the secondary domain could be presented with respect to the perspective of the author/publisher.
Many business questions are being unanswered, specifically around the patient journey, patient outcome, and essentially characterizing a disease progression based on the patient’s point of view, a fact to realize secondary data sets have their own limitations. However,
Thelansis supporting its clients with a newer emerging integrated approach, in which a combination of Primary Market Research (PMR) and secondary data sources powered with data analytics to generate robust insights. Typically generating insights on current drug utilization and the pattern of adoption is an ever-challenging and complex process for any company. Sometimes considering longitudinal patient data or prescription data to derive insights with a less margin of errors becomes critical. Thelansis has adopted primary research as a powerful tool to acquire real-world data trends to solve the most complex issue up to a certain possible extent. The process starts with understanding the scope of the work, building a robust discussion guide, with unbiased sample planning could lead to a super study outcome. Technology always plays a synergy role to drive the research with the most cost-effective practice and also brings operational excellence.
Pharmaceutical, biotech and life sciences companies are able to capitalize the immense secondary data source for smart, well-informed decision-making on commercial operations, sales and marketing to segment their targets, match them to optimal channels and develop effective messages for internal and external stakeholders. Secondary data offers little in the way of insights to help pharma companies understand why a target group is behaving a particular way or which channels it prefers. Making assumptions about behaviors and channels based purely on secondary data can lead to inappropriate tactics, missed targets and wasted resources.
PMR bridges the gap to information generated through the secondary research, where secondary data presents a snapshot of what is happening, such as the highest prescriber in a class, early adopters vs. laggards, etc. Secondary source data, however, cannot explain why a specific physician or group of physicians is prescribing or not prescribing a product. Primary research can uncover the reason behind the data.
To be successful in the pharma industry, it’s important to stay up to date with improvements that can disturb your business. Our market and competitive intelligence can offer you all the reliable, comprehensive information you want in one place. You can swiftly access required information across worldwide key industry developments in the medical and pharmaceutical marketplace with our easy-to-use solutions and expert analysts.
There are many descriptions available for competitive intelligence (CI) but as a common definition it is well-defined as an organized and principled program for collecting, analyzing, and handling external information that can affect your company's plans, decisions, and operations.
Pharmaceutical market is fluctuating quickly; there is a rigid competition among businesses to keep their pipeline strong as patents expiring, business models are changing and there are developing participants considering all the aspects it is very much require for pharmaceutical firms to track an efficient competitive intelligence strategy.
