Making data science a part of the life sciences sales strategy
Since the dawn of the age of ‘big data’, the life sciences industry has seen exponential growth in the amount of customer data readily available – an amount that is set to continue to grow at a staggering rate. But how can a life sciences company take advantage of the new data at hand and fully exploit data science?
In an interview in Deep Dive:Digital II, William King, founder and chairman of Zephyr Health, talks about how ‘data science’ could be the solution.
With the growth of customer relationship management (CRM) systems in the late '90s, the life sciences industry found itself at an inflection point. These platforms’ ability to track sales force data opened the door to more effective commercial decisions and engagement strategies built on a deeper understanding of customers.
Now, data related to customer engagement has grown increasingly diverse and complex thanks to a digitised era of consumer experiences and online interactions. However, while the data available is far richer, and potentially more relevant, its vastness also makes it harder to translate into actionable insights.
The traditional CRM approach, which ultimately relies on human knowledge and inputs, while still valid, now represents just one channel. In order to harness multiple new data sources from varying digital channels, life sciences companies need new and more sophisticated solutions that can collect, integrate and interpret the information to support commercial teams.
Read more in the full article here.
Please note that Deep Dive is best viewed in full-screen mode.
Read the full Deep Dive: Digital II magazine here.
If you would like to read previous editions of Deep Dive, and sign up to receive future editions, please visit the Deep Dive page on the website.