Edetailing Analytics: what you need to know
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eDetailing is the use of digital platforms such as tablets and phones to convey marketing messages and drug information to providers in an easy to assimilate format. eDetailing has become an integral part of marketing mix in the pharma industry, with high budgets allocated per annum towards its development.
The benefit of eDetailing lies in its ability to quantify the levels of engagement. While these may not be able to give the necessary qualitative insight, it still remains one of the most accurate measures to understand the direction a provider is taking when considering the brand of drug presented to him.
Data analytics therefore is the key differentiator for eDetailing providing the much needed insight on providers that was so sought after by the pharmaceutical industries. This insight will become ever more valuable with time, as budgets tighten and competition grows within the industry. Coupled with this is the fact that most providers now refuse giving time to sales representatives, meaning that shorter more engaging presentations are the only way to engage in both face to face meetings and on online media.
There are three types of analytics used in eDetailing. These will be outlined briefly here.
- Descriptive analytics: simply put these set of analytics tell the product manager what has been happening during the last month, last six months or even last couple of years. It is a snapshot of what has been happening in terms of marketing efforts. This information is gathered with the help of data modeling, visualization and regression analysis.
- Predictive analytics: predictive are just what they sound like, predictive. Based on the information gathered from descriptive analytics, predictive analytics provide you information about the trends of the target market. Predictive analytics are able to determine relationships between different aspects of marketing information accumulated in the first phase of descriptive analytics. It helps analyze probability of various actions. In advanced platforms such as eDetailing, the same can provide predictions in real time, thereby helping marketers create and improve changes in their marketing approach. This analytic set uses two techniques, predictive modeling and data mining to extract information.
- Prescriptive analytics: prescriptive analytics is the use of mathematical models to identify new ways or methods to improve upon a current situation. Based on the data obtained from descriptive analytics, prescriptive analytics is able to factor in different aspects and subsets of information and thereby improve decision process. The use of all three methods is now a common part of eDetailing analytics. This method has already provided fruitful insights to many pharmaceutical industries. With further development, the customer engagement will improve considerably.