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.
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