Using Predictive Analysis to Optimize Pharmaceutical Marketing

Most businesses have benefited from utilizing advanced analytics for marketing and other decision making. However, to apply analytical techniques for pharmaceutical marketing is challenging and emerging as it is critical to ensure the analysis makes sense from the medical side. Whether the drug for a specific disease finally consumed is directly and indirectly influenced by many factors including the disease origins, healthcare system policy, physician’s clinical decisions and the patient’s perceptions and behaviors. The key of pharmaceutical marketing is to identify the targeted populations for specific diseases and to focus on those populations. As the healthcare environment consistently changes, the predictive models are important to predict the change of the targeted population over time based on the patient journey and epidemiology. The time series analysis is used to forecast the number of cases of infectious diseases, correspondingly, over the counter and prescribed medicines for the specific disease could be predicted. The accurate prediction will provide valuable information for the strategic plan of campaigns. For different diseases, the different analytic techniques shall be applied. By taking the medical features of the disease and epidemiology into account, the prediction of the potential and total addressable markets can reveal more insightful marketing trends. And by simulating the important factors and quantifying how they impact the patient journey within the typical healthcare system, the most accurate demand for specific medicines or treatments could be discovered. Through monitoring the parameters in the dynamic simulation, the smart decision can be made using what if comparisons to optimize the marketing result.