Unstructured Data is a Widespread Problem
Forbes reported that 95% of businesses2 feel unstructured data is a problem. And there is a good reason for this. A deep dive by CIO revealed3 that 80-90% of the data generated today is unstructured. As such, it’s very likely that your organization is having data issues of its own.
Unfortunately, if your organization isn’t storing, processing, and monitoring the data it holds correctly, problems will follow. For example, when unstructured data is at play, it’s easy for incomplete or inaccurate information to slip into analytical models, CRMs, revenue cycle management and other enterprise applications. Unstructured data also makes it hard to spot errors. And when errors go unnoticed, data issues accumulate and can impact everything from quarterly reports to sales forecasting. There is no escaping it, data is everywhere. We now live in a data-driven society, with more data being generated than ever before. And according to IDC, the data sphere is only going to get bigger. The global market intelligence firm projects that global data1 will grow to a staggering 175 zettabytes by 2025, which is nearly four times 2019’s high of 45 zettabytes. If you were to put the entire datasphere of 175 zettabytes on DVDs, experts estimate that you would have enough disks to circle Earth 222 times. That’s a ton of bits and bytes. And it has many pharmaceutical commercial operations caught up in a tangled web of unstructured data. But it’s not just pharma that has data problems.
AI and Machine Learning Rely on Good Data Management
Good data management is also critically important for organizations that want to deploy AI and machine learning. Thanks to advances in computing and data science, these powerful new technologies can bring game-changing insights and efficiencies at every level. And organizations that deploy the technology correctly have a significant competitive advantage. However, no matter how innovative an organization’s algorithms are, if they run on top of scattered, inconsistent and outdated data, results can be disastrous.
When it comes to master data management, there are three letters that every data team should know: ETL. For those unfamiliar with the unassuming acronym, it stands for Extract, Transform and Load; three of the most critical steps of the data capture and integration process. ETL is the industry standard for capturing data from disparate sources and integrating it into a single, consistent source of truth. But for organizations that need help with this, P360 has a solution: the BirdzAI Data and Analytics platform!
BirdzAI Helps Pharmaceutical Companies Make Out of Data
BirdzAI is a powerful yet flexible solution that comes equipped with four pre-built modules for Master Data Management, Insights & Analytics, Sales Operations, and Marketing Operations. The modules can be deployed independently or combined for a complete data and analytics solution. But no matter what, the real magic begins at the data layer. And BirdzAI supports pharmaceutical commercialoperations with rapid, end-to-end data management capabilities, including the ingestion, storage, processing, and analysis of data derived from commonly used sources like first and third-party prescription data, specialty pharmacy data feeds, CRM systems, marketing interactions reports and more.
These are important features because, as noted above, an organization’s data often comes unstructured from a wide variety of sources. If not effectively managed, this can result in redundant and even conflicting information. To help eliminate this issue, BirdzAI integrates easily with any commercial operations workflow and creates a single source of truth by bringing all of an organization’s commercial data together into a state-of-the-art master data management ecosystem. This is what enables the platform’s advanced AI and machine learning algorithms to then turn data into insights for real-time sales and marketing operations decision-making, including forecasting, brand propensity analysis, next best action insights, customer alignment, customer and territory planning and sizing, and incentive compensation strategy, and much more.
BirdzAI Makes Data Capture and Integration Easy
There is no doubt, developing a modern data estate can be an extremely complex process. However, with BirdzAI’s data management module, pharmaceutical companies can ingest all data types (structured, unstructured, semi-structured) and easily derive insights from it. BirdzAI also enhances Data Capture & Integration by providing automation and pipelines that enable secure data ingestion from all sources, consistent data capture, and integration within the overall data environment. And with that, pharmaceutical commercial organizations can collect data, merge it and transform it into usable information in a real-time, seamless manner.
These are critical features that forward-thinking pharmaceutical companies need, especially as they rely more heavily on data-driven techniques. And to build a solid foundation, the integrity of data becomes increasingly important. The inability to trust the data gathered from a variety of sources can sabotage an organization’s efforts to enhance revenue and improve operational efficiencies. That’s why proper data capture and integration is a must.
To learn how BirdzAI can take your data to the next level, visit P360.com/BirdzAI.
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