Pharma digital transformation: customer data expected to play a pivotal role
A new survey highlights the importance of customer reference data to digital transformation and analyses ways pharma companies can improve the quality of their datasets.
In a remote world, customer data is more foundational than ever, and Veeva’s 2020 European Customer Reference Data Survey found 91% of organisations view customer data as a global strategic asset, while 88% said it’s essential for new product launches or sales models.
However, the research suggests more work is needed – 41% of respondents said they are not satisfied with the quality and service they receive from their legacy customer data provider.
Furthermore, only 57% of respondents believe their organisation has the right customer data foundation to fully support digital transformation, a figure that drops to 43% when they don’t believe their data governance is efficient.
Commenting on the results, Boehringer Ingelheim’s global head of data excellence Philippe Houben noted that “without strong data governance across the organisation, life sciences cannot have the right foundation to support digital engagement initiatives”.
More pharma companies are moving in this direction, and 78% of respondents said they are undertaking, or planning, a customer data enhancement initiative.
Rebecca Silver, general manager, Veeva OpenData, said: “Having a complete, full picture of the customer is key to getting the right insights and accelerating digital engagement.”
Insights from the 2020 European Customer Reference Data Survey can help translate this ambition into better customer data across organisations. In particular new report analyses:
- The role of customer data in digital transformation
- The impact of good data on product launches and sales models
- How to develop analytics and reports
- Challenges and solutions for customer data integration
Where in the past there were often gaps between intentions and investment when it came to customer reference data, now is the perfect time to build a strong data foundation to drive true digital transformation.