About the Client
Pharmaceutical companies
Case Study
Advanced analytics to understand Physician's prescription habits and predict future behavior
Problem Overview
Pharmaceutical companies want to improve their marketing ROI by getting an in-depth understanding of Physician behavior. Physician behavior and their prescription habits are very difficult to predict because it depends on several variables. However, if predicted accurately, pharma companies can improve their marketing ROI significantly, by targeting the right physicians, with the most appropriate messaging to convert them.
TeraCrunch Solutions
TeraCrunch offers an advanced analytics tool that allows the marketing and strategic teams of Pharma companies to understand physician's prescription behaviors in a very detailed way. It even provides them an ability to simulate various competitive scenarios. TeraCrunch's analytical tools compile physician prescription data, as well as competitive data of similar drugs, to provide a 4-dimensional overview of physician's prescription habits. Employing this data into TeraCrunch's algorithms, it shows how different types of physicians prescribe a specific medication based on their geographic location, ethnicity, types of practice, age, gender, etc. It scores the potential for the physician to switch to a competitive drug.
Impact On the Business
Using TeraCrunch's advanced analytics tool, pharma companies were able to improve their marketing ROI. They were able to identify groups of physicians based on their loyalties or unloyalties for various categories of drugs. This solution allows these companies to understand how physicians can be influenced in their decision-making
