Successful Selling: Acing Advanced Analytics to Drive Commercial Growth

Bhargav Mantha and Maria Kliatchko

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This article has been republished with the permission of Medtech Insight, a medical device industry publication of Informa.

We’re starting to see medtech companies use advanced, predictive and prescriptive analytics to inform and enhance sales operations, yet many of the technologies powering advanced analytics, including artificial intelligence and machine learning, are still poorly understood by many medtech leaders, and in many cases by their analytics and IT departments. These technologies aren’t magical, but they can be extremely powerful when deployed the right way. Sifting through and learning from patterns found in data could provide medtech companies with deep insights and timely recommendations to make informed commercial decisions. And with MarketsandMarkets Research estimating that the healthcare industry alone is projected to invest $30 billion into data analytics by 2020, the opportunities are extensive.

That being said, advanced analytics is at the peak of the hype cycle and, given its touted impact, it’s easy to get over-excited and invest in areas that ultimately won’t be valuable or profitable. However, the most typical barrier to success isn’t a bad attempt but no attempt at all. Here’s what some early use cases might look like, how to avoid succumbing to the hype, and how to separate real obstacles from complacent, old-world thinking.

About the Experts

Bhargav Mantha is a principal and a leader of ZS's global operations and technology practice. He has more than 14 years of experience leading several large-scale engagements involving information management strategy, development and execution in areas such as such as big data, analytics as a service, data visualization and mobility solutions.

Maria Kliatchko is a principal and the leader of ZS’s medtech analytics practice. She has more than 20 years of experience working with pharmaceutical, medical device and healthcare companies, consulting with clients on a diverse array of sales and technology strategy issues and implementations, including sales resource optimization, alignment, segmentation and targeting, as well as business intelligence, CRM and commercial data integration.