I Lulled My Audience – They Slept Well!
My True Story
Preamble
In the world of pharmaceutical brand management, Comprehensive Data Analysis (CDA) stands out as a critical tool, especially in regions like Bangladesh and India. It involves delving into prescription audit data, shop audit data, internal MIS data, and insights from retail pharmacy prescription audits.
CDA is analyzing the vast data from prescription audit, shop audit, internal MIS and the data which you as a brand manager capture during retail pharmacy prescription audit.
My mentor Tarun Gupta was very particular that I should make the CDA presentations of my brands every four months as soon as the CMarc Rx audit data was received.
Reflecting on my journey, I recall the days when presentations were made on acetate sheets, and I struggled to keep the audience awake post-lunch. My firm, loud voice and variations in pitch and pace were of no avail.
Once, Tarun Gupta even remarked “I do not think any patient would ever need Mandrax. They should just hear your CDA presentation.” (Mandrax was a very popular yet notorious sleeping pill those days – later banned). They should just hear your CDA presentation.”
However, with technological advancements, the landscape has transformed, offering brand managers innovative ways to captivate their audience.
Understanding Data Visualization
Data visualization is the art of transforming complex data into visual representations such as graphs and charts, facilitating easy comprehension at a glance. Rather than deciphering endless lists of numbers, colorful visuals offer immediate insights into patterns, trends, and relationships within the data.
For you, the pharmaceutical brand managers, data visualization provides a window into the performance of your brands in the market, amalgamating various sources of information including prescription audit data, shop audit data, internal MIS, sales and prescriptions trends, doctor feedback, internal customer feedback, market intelligence, and competitor analysis.
Case Study
Consider Shreya, a pharmaceutical brand manager responsible for the marketing of a new asthma medication named “Freespire.” Overwhelmed by the influx of data regarding Freespire’s performance, Shreya turns to data visualization to unravel its significance. Through vibrant charts and graphs, she visualizes sales trends, satisfaction ratings, and competitive comparisons.
Examining the visualizations, Shreya uncovers valuable insights. She identifies seasonal prescription spikes during monsoons in coastal regions, correlating high humidity with increased demand for Freespire. Moreover, comparative analysis reveals Freespire’s dominance in specific demographics, guiding Shreya to tailor marketing strategies accordingly.
Conclusion
Thanks to data visualization, Shreya gains invaluable insights into market dynamics, enabling informed decision-making and strategic resource allocation. By simplifying complex information and enhancing understanding, data visualization empowers brand managers to optimize brand performance and drive business success.
By showcasing Shreya’s journey, we witness first-hand the transformative impact of data visualization in brand management. From simplifying data interpretation to fostering efficient decision-making, it serves as a powerful tool in the arsenal of modern brand managers, paving the way for enhanced competitiveness and market relevance.
