Whitepapers

Telematics – Watching Your Every Move!

ABSTRACT

After years of recession, the US economy has recently been showing signs of recovery. The number of registered vehicles on the road, as well as new passenger cars, has been increasing over the last few years. It is expected that in next 2 years, new car sales will return to pre‐recession levels. The whitepaper provides an in-depth analysis of how Telematics watches over your moves and provides information to insurers necessary to  assess the accurate risk profile of user.

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Enabling Smarter Commercial Model Experimentation

Abstract

The traditional sales model where sales representatives detail physicians is under pressure for reasons including cost, alternative marketing channels, and increased influence of stakeholders beyond the physician. To succeed, Pharma must adapt their sales and marketing organizations (and supporting processes) to address these changing demands. This white paper discusses the challenges and potential approaches around creating a “continuously experimenting, continuously learning, continuously adapting” organization.

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Pharma Account-based Model in an Institutional Setting

Abstract

Much has been written about how the landscape of the Healthcare Industry is shifting and the various impacts being felt by consumers, insurers, and healthcare professionals (HCPs). This whitepaper charts the impact of the growing influence of organized customer groups, specifically focusing on alternative sales and marketing approaches Pharma may need to explore to understand and succeed in an institutional setting.

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Operational Risk Computation

Abstract

Operational Risk has become a key area of priority for banks in recent past due to regulatory pressures. The banks are identifying ways of measuring, monitoring, and predicting losses due to operational risk in the system and the associated capital requirements.

Operational losses are typically low frequency high value events, which mean the distribution of severity has a scarcely populated long tail region. However, modeling tails effectively (required to assess capital requirements accurately) puts ominous demand on amount of data required, which is a serious challenge in case of operational loss event data.

This paper aims to provide an operational risk (OR) capital measurement framework for banks. Basel II has proposed three approaches for measurement of operational risk, namely, Basic Indicator Approach (BIA), Standardized Approach, and Advanced Measurement Approach (AMA). This paper focuses on AMA.

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Basel Methodology Implementation

Abstract

Basel will have significant impact on the banking sector. One recent study estimated that as the Basel rules are written today; by 2019 the US banks will need about $870 billion of additional Tier 1 capital, $800 billion of short-term liquidity, and about $3.2 trillion of long-term funding, absent any mitigating actions.

Closing these gaps will have a substantial impact on profitability. Just the implementation of Basel program in a mid-sized bank is likely to cost $65 to $100 Mn, mainly driven by IT. Bulk of this cost (65-70%) is to be spent in ensuring data consistency and availability, developing applications and designing new IT landscape. As a result, getting the Basel implementation right, the first time itself, is super critical.

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Is Channel ROI Dead?

Abstract

From broadcasting a series of monologues at ‘easy’ customers in order to sell products, to having an engaging and effective dialogue with fairly ‘complex’ targets to make meaningful connections – marketing has definitely come a long way. The touch point with the customers no longer depends on the store closure time.

The ‘purchase model’ itself has become very complex. Remember your last purchase? A camera, a car, a cell phone – whatever it was – you would have probably researched it on the Internet, read all the product reviews, maybe landed on an advertisement, called up their customer care, received their sales agent’s contact details in an email and contacted him / her, visited the stores, visited their website, discussed with a friend on social media…wow! What if I were to ask you to pick one channel / source that drove the decision to purchase? Could you do it?

Yes, the reality is it’s no longer about a single channel or a specific campaign in time, but rather the ‘experience’ provided by the purchasing continuum. The key is to leverage one story telling moment to the next, building coherent and powerful brand equity – each interim step is crucial, but the linkages, and the pace of establishing these linkages, is what makes it explosive and changes the game!

The analytics, however, is still stuck in the past. The statistician in us still lives in a controlled environment, trapping one channel at a time and beating it to death until it confesses.

Through this Whitepaper we will make the case for the advancement in analytics to account for the role of interactions as well as sequences / linkages in measuring the return on investment.

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Creating an Effective and Motivating Incentive Compensation Plan

Abstract

Incentive Compensation is one the most important drivers for sales force productivity and effectiveness. Sales teams today continue to form a significant driver of a firm’s topline, and hence having an engaged sales force is critical for corporate success. Compensation budgets today are a significant spend for any firm, and hence gaining optimal ROI out of this spend is a topic of key research. There are many areas in an Incentive Compensation program that contribute to high impact.

Practitioners and incentive plan designers would readily attest to the fact that a well-designed incentive plan forms the bedrock of any successful high impact incentive compensation program.

Hence careful time needs to be spent on designing a plan, and enough time also would need to be planned for presenting the plan to the organization for buy-in and alignment.

There are key guiding principles that need to be kept in mind when designing or evaluating compensation plans. This paper outlines these key guiding principles. This also includes an outline of a robust design process.

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Better Reporting with the iPad

Abstract

Technology should be a driver of better reporting. Unfortunately, the ability to store ever larger amounts of data and access that data at ever greater speeds has in many cases resulted in more data and more reports, but not more insight. The iPad provides a device with features that can help address these bad habits and foster better reporting. The result is reporting that is focused and actionable, with movement towards a “common language” across the organization to help managers make better, data-driven business decisions.

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Payer Influence on Product Performance in Pharmaceutical Industry

Abstract

Understanding a Payer’s ability to control its formulary is an important issue and one that Pharma needs to factor into contracting decisions, allocation of promotional budgets (personal & non-personal), and other commercial areas. Without a true understanding of a Payer’s level of control, Pharma may make sub-optimal decisions with regard to rebates and/or the level of resources required to effectively manage pull-through activities.

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Linking ‘Customer Focus’ with ‘Business Performance’

Abstract

The concept of the ‘customer-centric business’ is pervasive, with companies small and large, across every industry, making efforts to improve customer focus. This is no doubt good as businesses would not exist without customers. However companies run the risk that efforts to increase customer focus become disconnected from business performance. If they do not deliver business value, customer-centric initiatives are not likely to stick.

In this paper, we discuss the need for a direct connection between efforts to increase customer focus and performance of the business. We introduce a framework to define how customer-centric initiatives drive value, and then isolate metrics to measure and manage. Our framework is built on the premise that ‘value to the business’ is the ultimate objective of customer-centric initiatives. We differentiate between two paths to value, ‘improving effectiveness’ and ‘generating shared value’. By clearly defining the value ‘outcomes’, we create the basis for identifying ‘drivers’ of value, using customer data. These drivers of value are the basis for selecting a focused set of metrics to measure and manage customer-centric initiatives. We show how advanced analytics are critical for leveraging available customer data to establish relationships and quantify value to the business. Having identified and quantified ‘drivers’ of value and the desired ‘outcomes’, we are then able to design customer-focused initiatives that influence these drivers. Managers should insist that customer-centric initiatives link to specific business objectives and use an analytics-driven approach to define the metrics that matter. ‘Customer focus’ can then become more than a good intention: it can be a powerful tool that delivers true business value.

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The Agile and Adaptive Sales Territory Alignment: Managing Change Becomes a Strategic Advantage

Abstract

Sales territory structures often suffer from inefficiency. Even with regular territory re-alignments, territories tend to ‘drift’ away from optimum. This drift can occur for many reasons: the natural ongoing evolution and shift in customer demographics; market events such as competitive product launches; environmental and regulatory changes; internal events such as changes in company priorities. Over the course of a year, up to 50% of sales territories could become 20% too large or too small due to the cumulative drift. Furthermore, attempts at improving efficiency through re-alignment typically incur a significant cost due to ‘disruption’ of existing customer relationships and the need to form new ones.

To gain full benefit from territory management, we propose an ‘agile and adaptive’ process that allows for more frequent alignment adjustments to maintain an ongoing efficient solution. This approach embeds the culture, process and tools of alignment into the organization – so that adapting to change becomes a skill of the sales rep, significantly reducing the cost of disruption. This approach leverages optimization tools and scenario analysis to support data-driven business decisions that align territory structures with business objectives. Implementing this capability into the organization requires a robust process supported by analytics and technology. We outline the critical success factors for making it work.

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