Is your Life Sciences Commercial Team Ready for the Augmented Consumer
New and emerging augmented consumer platforms are changing our relationship with data. Legacy data and business intelligence tools have a high barrier to entry which means that crucial, business-changing data insights are primarily limited to power users. The rise of augmented consumer solutions is putting an end to that: they’re transforming data access and reshaping the way Life Sciences do business.
In early October, we had the pleasure of hosting a discussion panel on the “Readiness of Augmented Analytics for Life Sciences Commercial Teams.” The panel of experts included:
- Rohit Vashisht, Co-founder and CEO of WhizAI
- Ivo Ruff, EMEA Brand Performance Analytics Lead for Janssen Pharmaceuticals
- Nitish Mittal, Vice President at the Everest Group
The panel debated the rise of the “augmented consumer,” the constraints of legacy data systems, the current market trends, and the various ways data accessibility is transforming the life sciences industry as a whole.
Summarizing this discussion won’t do it justice, so — if you missed it — you can catch the replay here. In the meantime, I’d like to share three of the most impactful points our experts made.
- Three trends are actively transforming commercial teams.
The Everest Group have been tracking market changes and noticed three trends actively reshaping the way life sciences teams think about commercial operations:
- The rise of new go-to-market (GTM) and direct-to-consumer (D2C) models are changing the way enterprises reach out to their partners and customers.
- Teams are actively migrating away from face-to-face sales and toward a virtual model. (This was — in part — accelerated by the global pandemic.)
- There’s a significant shift toward hyper-personalized and localized experiences for stakeholder engagement.
- Data insights availability is changing decision-making as we know it.
BI and legacy data systems always left users with more questions than answers. Due to technical limitations, they unwittingly locked data insights away from non-technical team members. Augmented consumer tools broke down the barriers.
All users can now directly interact with the data and get relevant insights by simply asking questions, removing technical silos, and making data-driven decisions available to everyone.
- Domain specificity remains essential.
B2B industries are distinct: they have their own terminology, nuances, and ways of doing things. To make things even more complicated, no two companies within the same industry are alike either. They have divergent goals, drivers, and assumptions. That’s why augmented consumer tools need to understand that nuance: on both the industry and company level. Thereby concluding that to provide reliable insights, domain specificity is essential.
These insights are just the start.
Our panel discussion dug deeper: following trends and answering questions. Watch the replay here. Think about how increased speed to insights, greater accuracy, and a smooth, intuitive user experience can help you and your team compete with global pharma. Want to know how WhizAI might fit within your current ecosystem? Have a product question? Our product experts are here to help.
Subscribe to our blog
People also viewed
A New Era of Personalization: Applying Generative AI to Dynamic Customer Engagement
Webinar Series: Part 4 - Give Your Life Sciences Analytics the ExplAIn Advantage
Adding Up Data Analytics Total Cost of Ownership (TCO) and How to Lower It
High data analytics expenditures don’t have to be a cost of doing business for life sciences companies. WhizAI lowers the total cost of ownership (TCO) while making data insights more accessible to business users. Traditionally, data analytics TCO has been a significant expense for life sciences organizations.
Transforming Life Sciences Commercial Function with AI and Augmented Analytics
In this whitepaper, sponsored by WhizAl, Everest Group explores the business case and profound impact Al and Augmented Analytics can have on the life sciences commercial function across various use cases in Sales, Marketing, and Market Access. They examine what top pharma enterprises are looking for in an augmented analytics tool, a roadmap for how to get started, and a blueprint for adoption.
Augmented Analytics is “On the Rise” on Gartner’s 2022 Hype Cycle for Life Science Commercial Operations
The Gartner® 2022 Hype Cycle™ for Life Science Commercial Operations introduces a new category, Augmented Analytics, this year. WhizAI is listed as a sample vendor in the Augmented Analytics category in this Hype Cycle. This summary report covers the following highlights.
Why Domain Expertise Is Essential for Life Science Analytics
Domain expertise matters. Consider this: Enterprises choose transportation and logistics companies that have created the specific types of services they need. Businesses seek professional services with experience in their industries and look for consultants with good track records in their markets. However, remember that domain expertise benefits extend to analytics platforms, particularly those deployed for life sciences.