Analytics, Quantitative And Statistical Models - 1451 Words

Analytics, quantitative or statistical models to analyze problems may be applied to a variety of business problems, including customer management, supply chains, financial performance and many other. It is the back bone of any organization which helps in effective decision making. Today, it has creeped into each and every industry and has created a â€Å"perish or persist† scenario to the industries. Describe your company s position and ability to compete on analytics Analytics plays a major role in pharmaceutical industry in assessing the growth of sales, revenue, market share and ultimately growth of the company. I worked as a part of product management team in Fresenius-Kabi, a Germany based multinational Pharmaceutical Company. In countries like India, pharmaceutical companies have head to head competition to survive in the market. The company has a structured market analytics and research department rather than depending only upon the data from IMS. As a part of product management team I worked closely with the analytics department to secure data for marketing purposes. This process not only helped project managers in assessing the success of project to be implemented but also helping product managers in introducing a new product into the market and assessing their success rates. The company has a strong business intelligence platform and other analytical aspects. Thus using the data and competing on analytics made company to have a Lion’s market share in the basket ofShow MoreRelatedQuantitative Methods in Decsion Making Essay1584 Words   |  7 PagesCanyon University Quantitative Methods November 16, 2011 Decision Making Analytics competitors are leaders in their varied fields consumer products, finance, retail, and entertainment. 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