Commercial story: Components of Marketing & Sales analytics - BI reporting (Story: CA 8/13 - Read other posts in the series by visiting the 'All Posts' section)

Commercial story: Components of Marketing & Sales analytics - BI reporting (Story: CA 8/13 - Read other posts in the series by visiting the 'All Posts' section)

As an Instrumentation & Control Engineer, our guiding principle is 'if it is not measured, it cannot be controlled.' To measure effectively, reporting is essential. Business intelligence and reporting are vital for capturing various metrics across executive summaries, market overviews, claims, sales and inventory, TRx, NRx, and call activity dashboards: 

1. Sales Metrics

>Sales Volume: Total units sold within a specific period.

>Revenue: Total income generated from sales.

>Market Share: Percentage of total sales in the market captured by the company.

>Sales Growth: Increase in sales over a specific period.

2. Customer Metrics

>Customer inventory: Inventory at customer location

>Customer Retention Rate: Percentage of customers who continue to purchase over time.

3. Marketing Metrics

>Return on Investment (ROI): Revenue generated from marketing activities relative to the cost.

>Lead Conversion Rate: Percentage of leads that convert into customers.

>Campaign Performance: Effectiveness of marketing campaigns in driving sales and engagement.

4. Product Metrics

>Prescription Volume: Number of prescriptions written for a specific product.

>Product Penetration: Extent to which a product is used within its target market.

>Formulary Coverage: Inclusion of a product in insurance formularies.

5. Compliance and Regulatory Metrics

>Adverse Event Reporting: Number and nature of adverse events reported.

>Regulatory Compliance: Adherence to industry regulations and standards.

6. Operational Metrics

>Sales Force Effectiveness: Performance of sales representatives in achieving targets.

>Call Activity: Number and quality of sales calls made to healthcare providers (HCPs).

>Territory Coverage: Extent to which sales territories are effectively covered.

7. Financial Metrics

>Profit Margins: Difference between revenue and costs.

>Cost of Goods Sold (COGS): Direct costs attributable to the production of goods sold.

>Operating Expenses: Costs associated with running the business.

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