ANLY482 AY2017-18T2 Group32 : Project Findings
| Interim | Final |
Contents
1.0 Initial Exploratory Data Analysis
We conducted an initial data observation to seek some initial insights between sales and healthcare organizations as well as to understand what products Pharma G's account representatives are pushing to healthcare practitioners.
For Invoice Data, after filtering for the TCE brands here are the distribution of all TCE brands and its sales performance.
Sales across various Channels
Pharma G appears to have a strong performance in 2016 but sales amount decreased by 9% to a 3-year low in 2017. This signals a need to for Pharma G to keep their sales team in check using Key Performance Indicators as mentioned above.
This could be attributed to the drop in sales from the general hospitals which generate 42% of yearly revenue. Pharma G saw a decrease in sales revenue from its top 3 buyers from 2016.
Lastly, the top three products brought in lesser revenue last year as compared to 2016. Most notably, their best selling drug saw a sharp decrease in sales last year, falling by 8.8%.
Telesales by Account Representative
89.6% of all interactions are face to face, which explains why interaction duration can go as high as >300 minutes as Sales Representatives may need more time to build rapport. In addition, there seems to be a correlation between the number of products pushed to the practitioner and the interaction duration. For a huge client like hospital, the representative may need to push for several product lines whereas a small clinic will only need a fraction of it.
However, as the TCE brands are at their end-of-life cycle, the accounts for these TCE brands are handled from the Sales Representatives to the Account Representatives (AR). The AR only need to call the doctors and nurses in each organization and try to sell a new product or convince them to buy another batch of an existing drug in their inventory. Hence, we are only focusing on the AR from the calls observation, to have a better understanding of their performance.
2.0 Initial Visualization Dashboard
We have completed our analysis for the first KPI. The following calculation was used to obtain the renewal rate for TCE products:
Based on our calculations, current renewal rate for Pharma G is at 47%, which is quite far away from their target of 95%. In order to boost the renewal rate, we would recommend the TCE sales team to focus on these three areas:
i.Big Public Hospitals
Our EDA has revealed that Pharma G’s top three customers are Changi General Hospital, NUS Hospital and Tan Tock Seng Hospital. It is imperative that the sales team strive to focus sales on customer like the latter two who have made a lesser purchase from GSK in 2017 as compared to 2016 in order to prevent them from approaching Pharma G’s competitors in 2018.
ii.Best-selling drugs
The sales team should focus on pushing for the top three selling products namely: Keppra, Zeffix and Hepsera as they bring in significantly more revenue. This is especially true for Keppra which is able to bring in more than 3x sales revenue than the second most popular item.
iii.Fast growing clinics
Other than big public hospitals, the sales team should keep an eye on fast-growing clinics and private medical facilities. Our top three recommendations are : Joy Clinic & Surgery, Parkway & Shenton Pte Ltd ( Woodlands MRT) and Ban Kok Clinic due to their high growth in purchasing in 2017 as compared to 2016.
