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Data Analysis and Reporting

Have a Glance

The process of organizing data into informational summaries in order to monitor how different areas of a business are performing.
The goal of analysis is to answer questions by interpreting the data at a deeper level and providing actionable recommendations.
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1. Data analysis

Data collected in international large-scale assessments of educational achievement originate from complex unit- and item-sample designs. The hierarchical structure of education systems, and the complex structure of educational processes require sound knowledge of statistical methods suitable for analyzing and interpreting the data obtained from these assessments. The international context of international comparative research means that cross-country comparability must be established to generate reliable results.


2. How Data Reporting Reveals The Right Questions

Data reporting is the process of organizing data into charts and tables in order to track performance of your business. This raw data keeps you aware of what is happening with your business. When your business is not reaching one of its goals, your reporting charts should alert you of the issue, prompting you to respond.

While reports are the first line of defense for your business health, it is often impossible to extract insights that can help you fix an issue or seize an opportunity. For example, this Sales Win/Loss report gives you an indication of individual sales performance, but the data doesn’t explain why each rep has different results.

If you want to understand why some reps perform better than others, this report can’t help you. That said, the report did its job to make you aware of individual performance and prompted you to ask questions. To find the answers, you will need to do a deeper analysis of your CRM data.
moPharma Digital Solutions is a Top Digital Marketing Agency in Mumbai. providing a full-service Digital Marketing Company in Mumbai. moPharma Digital Solutions is a Specializes in Anyalitical Report.

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3. How Data Analysis Helps You Find Answers

Data analysis is the process of examining data with the goal of answering a business question that supports decision-making. An Analysis can reveal powerful insights if you are able to uncover why something is happening and what you can do about it.

Here are three key steps to building an analysis that helps uncover insights:

1. Start With Specific Questions.

Before you dig into your data, write down what questions need to be answered to achieve your goal. The more pointed the question, the more valuable and actionable the answer will be.

For example, instead of asking, “How can my sales reps improve performance?”, you need to ask something like this: “Where in the sales pipeline are my higher performers spending their time vs. lower performers?”

2. Identify Data Sources.

When you start with a detailed question, you are able to pinpoint the data needed to formulate an answer from that question. Using the example above, you can determine that you’ll need sales pipeline data, specifically time allocation by each rep within each stage of the pipeline.

Once you’ve chosen your data sets, integrating the data and visualizing the analysis can be done in a cloud-based data tool like DataHero.

3. Interpret Results.

Data analysis still requires you to make a conclusion about your findings. As you find interesting facts or patterns and put them in context to your business question, you’ll want to test your conclusion by asking yourself, “Does the data answer my question and defend against any objections? How?”


4. An Example of How Reporting and Analytics Work Together

You don’t need to be a data scientist to build reports and analyses when you use DataHero. Continuing the sales performance example from earlier, here is how you can build analyses to help answer your questions.

Let’s pretend you are the head of sales and your goal is to improve your team’s performance. The first step is to review performance metrics like the wins and losses report. This is a report you can easily build in DataHero by integrating your CRM data.

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5. Win/Loss Ratio Report

Create moPharma Chart: Drag the following attributes onto the chart canvas:

1. Opportunity Owner

2. Win/Loss

This report highlights how many deals have been won or lost for each sales rep. As the head of sales, you need this performance data to evaluate your team, but you also want to learn how you can help the lower performers improve.

Perhaps your first question based off this report is, “How are the high-performing reps allocating their time within the pipeline vs. lower performers?” Here’s how you can quickly build this analysis in moPharma to help you answer this question:


6. Analysis: Stage Duration by Sales Rep

Create moPharma Analysis: Drag the following attributes onto the chart canvas:

1. Stage Duration

2. Stage

3. Opportunity Owner

When you see where each sales rep is spending their time in context to their performance, you can start asking deeper questions. For example, one of the lowest performers spent a lot more time in the negotiation stage (see green arrow).

A natural follow up question is, “Does spending too much time in the negotiation stage affect overall performance?” You can find this out by analyzing the average duration of each stage with win/loss data.


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7. Analysis: Average Stage Duration by Win/Loss Ratio

Create moPharma Analysis: Drag the following attributes onto the chart canvas:

1. Stage Duration

2. Stage

3. Opportunity Owner

The analysis shows you that exceeding 25 days for the Negotiation Stage will probably lead to a loss. By digging deeper into the data, you are able to help your lower performing reps who were spending too much time in the Negotiation Stage. You can now coach them to spend less time on accounts that are being stalled in negotiations to focus on new opportunities.

Your Win/Loss report monitored sales performance and raised the questions, while the analysis led you to an actionable result. Data reporting and data analysis must work together to deliver value.


8. When You Control Your Data, You Can Find The Answers

In the case of the Presidential election, most polling reports did not show the Electoral College votes or dive deeper into votes by state, which were critical data points for winning. The polls were directionally accurate in that Clinton won the popular vote, but the reports were not answering the right questions to help achieve the objective — winning the election.

For your business, you no longer need to be a data-trained professional to build reports and analyses that help you answer the questions unique to your business objectives. Self-service data tools like moPharma put you in control of your disparate data.

When something goes wrong, you no longer need to guess or assume the best solution. By asking the right questions of your data, you can create your own analyses that generate the insights you need to keep your business moving forward.

Being a trusted Digital Marketing Company in Mumbai, we make sure your Data Analysis and Reporting are journey of every single consumer to measure customer sentiment, understand the customer better, predict behavior and deliver insights and nudge messages in real time.


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Learn Digital Marketing Courses

By now, I believe, that you have a fair idea why Digital Marketing is important for pharma sector. Some pharma companies have not yet fully embraced the digital revolution and changing times, while others have. Well, you should understand that it doesn’t matter to the patients out there, the patients are increasingly expecting, and rightly so, and demanding the pharma and healthcare industry to engage themselves and provide end-to-end services.

The pharma companies that are aligned to changing times, and are using digital mediums, are also the ones reaping the benefits. Big prizes are waiting for those who can cut through all the digital noise and come-up with sustained competitive advantage using digital mediums. The others will also align soon or go out of business.

There are different ways to learn digital marketing. You can teach yourself using online material and tutorials, or you can Learn Digital Marketing from a Reputed Training Institute. These training institutes have highly experienced professionals and provide you focused and personalized training with lot of live assignments, and also provide you guidance for your placements. There are digital marketing courses specialized specifically for pharma sector.

So, go ahead, learn Digital Marketing and shine on!

Remember…

-Pharma must be in the conversation so to know how to develop better drugs.

-Digital marketing offers many ways to communicate with customers (HCPs and patients).

-Pharma must offer great content that interests customers and helps them do their jobs better. This type of content is easier to approve, less risky and leads to better long-term customer loyalty.


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Ajit: +91 9820621021

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