Wireframe Software online

The pharmaceutical industry has been focusing much of its energy on producing the next chartbusting drugs.

However, the industry is also facing challenges in terms of the changing regulations, increasing number of declines on drug approvals and the continuing need to develop high value biologics. Refocusing efforts is imperative.

There are existing processes, systems and practices that need to be immediately addressed. Key performance indicators (KPI) using BI tools help corporations identify areas that need continuous development and highlight successes already achieved. This helps pharmaceutical companies grasp their management operations better.

What is KPI?

Simply put, KPI is a measurement of something that is vital in a business’s operations. In the pharmaceutical industry, measurements on drug cost overall trend for a certain drug are examples of KPIs.

What KPIs to Include

Before using dashboard software to view KPIs, it is important that useful KPIs be identified first. Some KPIs are not useful to a certain organization, depending on the operations and the needs of that organization. It is therefore important to have long discussions first before operating a KPI dashboard. Discussions should tackle on:

  • Assessing the organization’s strategies.
  • Determining the business drives that have an impact on the execution of strategies.
  • Identification of long-term and short-term goals.

Determining useful KPIs is one the most important tasks of managers. KPIs based on the organization’s objectives are essential components of an effective and helpful dashboard. What you will see on the dashboard will largely depend on how you specify your KPIs.

Read more at http://www.infocaptor.com/dashboard/dashboard-bi-tools-for-pharmaceutical-industry

VN:F [1.9.3_1094]
Rating: 0.0/10 (0 votes cast)
VN:F [1.9.3_1094]
Rating: 0 (from 0 votes)

Related posts:

  1. Benefits of Dashboards and Analytics for Hospitality Industry Briefly, dashboard software offer a method of collecting and organizing data. Using simple access points and display functions, this software can provide their users with snapshots of measurable metrics that they can then use to make better decisions, in this case, on running their establishments. Enabling informed decision-making is one of the...
  2. Business Intelligence for the Finance Industry The banking and finance industry is experiencing continuous changes brought about by advances in technology. The changes are welcome – however not without the accompanying challenges. As a result, the kind of market we now have is dynamic and Wall Street is making the necessary adjustments, not to dampen vibrancy in the market, but...
  3. Increasing revenue with data dashboards Some people think of a data dashboard as nothing more than a pretty visual aid, but when properly used, the dashboard can be a key tool in increasing business revenue. By monitoring meaningful metrics and responding relevantly, you can boost your business and raise your revenue. Isn't that awesome? Select...
  4. 5 reasons you should use dashboards in marketing industry What's the first thing you look at when you flip on your computer screen in the morning? What's the item you peek at on your phone even when your dinner partner wishes you'd leave work behind for the evening? For most people that addictive checking-tendency applies to their emails, but the...
  5. Fastest growing and rapidly declining job industry – Data Visualization – Analytics Fastest growing job industry Read more at Fastest growing and rapidly declining job industry...

Comments are closed.