Exploraty Multivariate Statistical Methods Applied to Pharmaceutical Industry CRM Data

Abstract

An analysis of the current CRM systems in the Pharmaceutical Industry, the way the pharmaceutical companies developed them and a comparison between Europe and United States was done in this study. Overall the CRM in the pharmaceutical industry is far-behind, when compared with other business areas, like consumer goods, finance (banking) or insurance companies, being pharmaceutical CRM specifically less developed in Europe when compared to United States. One of the big obstacles for the success of CRM in the pharmaceutical industry is the poor analytics applied to the current CRM programs. Improving Sales and Marketing Effectiveness by apllying, multivariate exploratory statistical methods, specifically Factor Analysis and Clustering into pharmaceutical CRM data from a Portuguese pharmaceutical company was the main goal of this thesis. Their overall usefulness when applied to the business was demonstrated, and specifically in relation to the cluster methods, SOMs outperformed the hierarchical methods by producing a more meaningful business solution.