The most recent TGaS survey shows that 68% of pharma marketers said “big data” is important, but it did not make the top three areas for focus. It did, however, rank fourth among areas for growth over the next three years Why is this?
First, according to Donna Wray, TGaS VP of Digital and Multichannel Marketing, big data initiatives usually look to tie information directly to individual customers and their sales data, problematic in the pharma industry. Second, wrangling the basic data is a huge challenge. “Big” has to get in line.
Making it even more complicated, every vendor, every channel within multichannel marketing has its own unique form for data, and there is lots of it. However this is tracked and managed, it is a challenge to just make sure all the fundamentals are covered. We do in any event, see superior performance for those brands who develop Key Performance Indicators (KPIs) for value and a method for tracking against them across channels.
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