UCB has two highly attractive opportunities to use data: 1) Using individual customer data to power product discovery and redefine CRM, analytics, and decision-making by blurring borders between medical and commercial operations. 2) Optimizing the supply chain to reduce costs and transfer value to patients by automating and streamlining processes.
For UCB to capture value from these opportunities, critical success factors include: 1) Creating a sense of urgency around data-driven insights, 2) Building executive and manager capabilities to understand insights, 3) Acquiring analytics talent and technology, 4) Establishing a data architecture, 5) Changing business processes to incorporate insights. Success depends on considering these five elements in a data-driven
UCB has two highly attractive opportunities to use data: 1) Using individual customer data to power product discovery and redefine CRM, analytics, and decision-making by blurring borders between medical and commercial operations. 2) Optimizing the supply chain to reduce costs and transfer value to patients by automating and streamlining processes.
For UCB to capture value from these opportunities, critical success factors include: 1) Creating a sense of urgency around data-driven insights, 2) Building executive and manager capabilities to understand insights, 3) Acquiring analytics talent and technology, 4) Establishing a data architecture, 5) Changing business processes to incorporate insights. Success depends on considering these five elements in a data-driven
UCB has two highly attractive opportunities to use data: 1) Using individual customer data to power product discovery and redefine CRM, analytics, and decision-making by blurring borders between medical and commercial operations. 2) Optimizing the supply chain to reduce costs and transfer value to patients by automating and streamlining processes.
For UCB to capture value from these opportunities, critical success factors include: 1) Creating a sense of urgency around data-driven insights, 2) Building executive and manager capabilities to understand insights, 3) Acquiring analytics talent and technology, 4) Establishing a data architecture, 5) Changing business processes to incorporate insights. Success depends on considering these five elements in a data-driven
UCB has two highly attractive opportunities to use data: 1) Using individual customer data to power product discovery and redefine CRM, analytics, and decision-making by blurring borders between medical and commercial operations. 2) Optimizing the supply chain to reduce costs and transfer value to patients by automating and streamlining processes.
For UCB to capture value from these opportunities, critical success factors include: 1) Creating a sense of urgency around data-driven insights, 2) Building executive and manager capabilities to understand insights, 3) Acquiring analytics talent and technology, 4) Establishing a data architecture, 5) Changing business processes to incorporate insights. Success depends on considering these five elements in a data-driven
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The document discusses how UCB used an analytics-driven approach to foster innovation and create patient-centric solutions. It identifies opportunities in product innovation and supply chain optimization, and critical success factors like building analytics capabilities and changing processes to incorporate insights.
Using individual customer data to power product discovery and rethinking customer relationship management. Focusing on supply chain optimization to reduce costs and transfer value to patients.
Creating a sense of urgency, identifying an ideal future state, learning from smaller enterprises through small pilots, and overcoming concerns about increased regulatory interactions.
DBS ASSIGNMENT 4
Jayaprakash K Salian 17PGP061
Jayaprakash IIM Raipur Q1. Identify two highly attractive opportunities for UCB to use data and elaborate data and value aspect for each opportunity:
Entrepreneurial culture by using “Analytics as a Service” (AaaS) framework
within the organisation adapted in UCB, the focus is to make the innovation spur within the organisation by adopting the data-driven approaches to shift from the traditional modus operandi and change processes significantly. The organisation collaborated with multiple stakeholders across the ecosystem to generate patient-centric solutions by using internal and external data by streamlining the processes and verifying the sprint-solutions with “value runs”, an elaborate A/B testing to validate the decisions and realised insights in the workflow.
UCB tried to develop the “innovation-with-analytics” culture by
demonstrating the value created using data-driven analytics in identified opportunities, that span across departments. Value creation, value capture and value extraction. Value creation is when the product is conceptualized or discovered. It involves what needs the product is going to serve and whether the product is the company’s own brainchild or was a by- product of a merger and acquisition. Using individual customer data to power the discovery process can redefine product innovation for pharma companies. It involves rethinking the meaning of CRM, data analytics, and insight-driven decision making. It requires blurring the border between medical and commercial operations. But the benefit is a value creation process that is aligned with the market need and that can put the entire commercial operation on a footing for value capture. Over all the opportunity to capture value revolves around Cost Reduction, Efficiency and Scalability. Q2. What critical success factors will allow UCB to capture that value? The focus of the organisation on the supply chain optimisation can be aligned along patient value strategy as the organisation would be able to reduce the costs and transfer some value to the patients. This can also be used to divert some resources to other patient-centric departments by automation and streamlining the processes in supply-chain. But the industry retained a relatively high margin compared to the other industries or sectors being disrupted by digital technology. Creating a sense of urgency among the employees was especially difficult and being a company that belongs to the pharma industry, the senior executives want insights in silos rather than invest time and money in generating the insights using huge amounts of data and technology to perform analytics algorithms on them. Many pharmaceutical companies believe that unless they identify an ideal future state, there is little value to investing in improving big-data analytical capabilities. Indeed, they seem to fear being the first mover, since there are few examples of pharmaceutical companies creating a lot of value from the improved use of big data or data analytics. Further increasing their hesitation is concern about the ever increasing interactions with regulators if they pursue a big-data change program. Pharmaceutical companies should learn from smaller, more entrepreneurial enterprises that see value in the incremental improvements that might emerge from small-scale pilots. Below are the 5 elements on which the data driven approach is dependent upon for capturing value. The elements basically gives the over factors which needs to be considered and enabled for a data driven business and becoming a frontier runner. Acquiring analytics Deciding the use of Data Architecture capabilities in terms of analytics Building talent and technology
Changing business Building the capabilities
processes to of executives and mid incorporate data level managers to insights into actual understand data driven workflows insights.
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