Launch data-enabled products or services
Pursue new business models
Sell existing data assets and products
Build new revenue streams or business models
3
Augment process productivity
Increase employee productivity
Optimize assets or inventory
Improve operations
2
Boost decisions’ effectiveness
Elevate customer experiences
Improve risk management
Enhance decision-making
1
Here, companies complement drugs or devices with connected solutions and embedded intelligence. For example, prescription digital therapeutics is one connected solution class
gaining traction with payers.
Launch data-enabled products or services
Newer platform-based business models are becoming financially viable using data, analytics and technology. These may vary from collaboration models that enable ecosystem partners to work together in new ways to broader marketplaces that facilitate the trading of products and services.
Pursue new business models
Data leaders recognize the value of assets such as data, content and algorithms. And they’re looking to monetize them with direct sales, licensing or fees for use. This is an area where pharma is still evolving due to the sensitivity and regulatory nuances of health-related data. For example, Flatiron (a subsidiary of Roche) offers real-world data products designed to accelerate R&D and make research more inclusive.
Sell existing data assets and products
Back
Re-imagined operational processes, augmented by automation and intelligence, improve efficiency and generate real-time value. Operational improvements by the end-to-end implementation of cutting-edge
data-driven technologies, such as automation, cognitive AI and conversational AI, can yield significant gains
by reducing redundancies and eliminating waste while ensuring a keen focus on customer needs.
Augment process productivity
Data-enabled automation, people analytics and digital workplace efforts can result in excellent employee experience and productivity by designing employee journeys and delivering tailored interventions focusing on critical moments to maximize satisfaction, performance and productivity.
Increase employee productivity
Converging operational processes with Industry 4.0 technologies can improve asset utilization and investment yields. For example, digital twins help firms lower maintenance costs and increase asset uptime for equipment users in factories and hospitals. Track-trace and serialization capabilities enable firms to meet regulatory requirements for anti-counterfeiting. They also improve operational efficiencies and communication with stakeholders.
Optimize assets or inventory
Back
Most businesses can capture value by looking at the patterns in historical data and deriving meaningful insights. They’re also learning to automate the insights-to-action cycle, leading to more timely decisions. For example, analytics and AI techniques can help with forecasting, leading to a more optimized price and promotion strategy.
Boost decisions’ effectiveness
Data is critical for firms to personalize customer experiences. For example, firms combine internal and external data sources to enable personalized insights to reps to ensure a more focused and valuable discussion with HCPs.
Elevate customer experiences
Data helps prevent business risks by using historical patterns to predict anomalies and detect fraud or compliance risks. For example, biopharma often uses data- and AI-driven anomaly detection approaches to uncover co-pay or pharmacy fraud and other revenue leakage scenarios such as 340B diversion or 340B double dipping.
Improve risk management
Back
Enhance decision-making
Improve operations
Build new revenue streams or business models