ANLY482 AY2017-18 T1 Group03/Final Progress
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Assessing the effectiveness of sales representatives’ interactions with customer on revenue is an essential business process pivotal to the success of a business entity. Our team analysed the effects of customer interactions on sales revenue with an objective to use analytical evidence to determine the optimal level of interaction to achieve maximum sales revenue. The research uses local data collected from a global pharmaceutical company ("Pharmaceutical Company X"). An Analysis of Variance ("ANOVA") method is used to identify groups that benefit from higher levels of interactions. Factor groups include the company’s key products with subsequent study of the various sales channel.
Through our analysis, we have identified that products generally benefit from face to face interactions as compared to phone web calls. We identified certain products to show conclusive evidence of a significantly higher mean in sales correlating with higher number of interactions. In addition, certain channels have been identified as most reactive to face to face interaction. These results were presented to Pharmaceutical Company X to recommend an optimal level of interaction for each product to maximize sales revenue. The analysis is limited to 2 years of data collected from one entity. Results may vary if analysis is conducted on data over a longer span of time or from another entity.
Keywords:
Sensitivity analysis, pharmaceutical, products, therapy area, channel, sales interaction
