A successful product launch forms one of the most significant events in the life of a life sciences small and medium business (SMB), especially if it’s the first one or even a new indication. SMBs are looking to develop systems and processes on the go while competing with the big fish in the market. In this specific setting, getting the data and analytics strategy right becomes critical.
SMBs often end up choosing “bare-bones” data and analytics solutions due to shallower pockets. And for a quick competitive advantage and immediate commercial success, they partner with third-party vendors for point solutions to leverage their data assets for meaningful insights. These sub-optimal approaches compromise commercial decisions in the highly sensitive pre-launch, launch, and post-launch periods.
This 5-step guide lays down a substantial checklist for determining a sound commercial data and analytics strategy for SMB senior executives. It’s a culmination of Axtria’s past engagements, learning, and deep domain expertise.