Life Science Return on Investment Analysis

October 17, 2016

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Return on investment (ROI) is a measure that investigates the amount of additional profits produced due to a certain investment.
This ROI calculation is used to compare different scenarios for investments to see which would produce the greatest profit and benefit for the company. One of leading Life Science customer focus on investments that deliver the greatest return. In critical situations, companies often slash their budgets – a dangerous move since marketing is an investment to produce revenue. By focusing on ROI, We helped to client move away from the idea that marketing is a fluffy expense that can be cut when times get tough. **Problem Statement** Life Science customer’s marketing team is contacting various product promotions program for increasing their products sales in the market (Example: medical equipment, drugs etc.). This promotion programs has contacted across the geographical locations and they are primary targeting to Physician/Doctors. So they can recommend or write company products to patients/consumers. Marketing team need to study the effectiveness of the promotions programs and this studies outcomes help them to make better decisions in their marketing strategy applying in future. **Expected Outcomes** Our solution answered the following business questions: - What are incremental revenue and ROI due to 20XX speaker programs? - How impactful were past speaker programs? - Historical data was analyzed to measure the impact of these programs - Measure and track the Return on Investment (ROI) of all marketing investments. - Investment delivers the highest possible returns. This system can improve them over time based on history data integrating. **Data Dictionary** - Speaker Program: Interactions between healthcare professionals benefit patient care through the exchange of the latest regulated information about the benefits, risks and appropriate uses of medicines. Physicians need to stay up-to-date on information about new medicines, new uses of medicines, the latest clinical data, appropriate dosing and emerging safety issues. - Primary Detailing Equivalent (Pde): PDE means a numerical amount that scores the value of Details performed Sales Representatives. - Total Prescriptions (TRx) One metric used is the total number of prescriptions (TRx; Total Prescriptions) written by physicians for a particular drug over a specific period of time. This includes prescriptions for refills and renewals, which are scripts patients get when they run out of refills. **Test and Control Groups - Approach** Azure ML , R program has helped to create physicians segmentation for Test and control Groups and It helps to define ROI trends. **Solution** - Profit / Loss Strategy with respect of each channel-advertisements - ROI : Segmentation level targets for channel-advertisements - ROI : National wise target for channel-advertisements - Dynamically adopting multiple channel-advertisements for ROI Calculations. - Easy integration and maintainability