How Life Sciences Leaders and Teams Must Evolve to Build a Data-Driven Organization

Life science organizations must evolve and adapt for future success. Today, Sameer Sardana, Leader of Product Development at Axtria, discusses transforming operational methodologies within life sciences. He delves into the agencies responsible for promotional planning, measurement, and activation, stressing the significance of accurate analysis measurement. 

Sameer also discusses how MLOps (Machine Learning Operations) workstreams and technologies empower stakeholders and marketers to make real-time promotion decisions, driving pivotal decision-making processes. Sameer adds that this represents a substantial shift for individuals accustomed to traditional settings, potentially disrupting established practices and necessitating new approaches. Our audience can benefit from today's insights to gain a competitive edge in the future.

IN THIS EPISODE:

• [2:53] Sameer Sardana discusses pharma companies' current state of affairs and how they spend much of their revenues on promotion.

• [4:42] Sameer outlines four trends in this space of promotional effectiveness that are drivers of change.

• [7:09] Discussion of the three deterrents to the evolution of change and the inefficiencies created by many agencies because they are often involved in promotional measurement.

• [11:01] Sameer discusses a CoE (Center of Excellence) created at Axtria where all promotional measurements were done for a customer, allowing the organization to leverage the best in class techniques.

• [13:11] Sameer explains the use of software and the three areas of value it brings to the promotional measurement space.

• [15:54] Sameer discusses how marketing and IT have impacted the stakeholders 

KEY TAKEAWAYS

• The pharmaceutical sector invests millions in advertising and assessing the efficacy of campaigns. The quality of the analysis hinges on the expertise of the individuals interpreting the data.

• One of the most significant barriers to change is that promotional planning, measurement, and activation must be tied together, impacting promotional efforts and the ability to change course quickly.

• Agencies have expanded, taking over not only promotional planning and execution but also measurement, creating spending 200 million dollars in one company. 
  

BIOGRAPHY: 

Sameer Sardana heads products at Axtria and is the force behind some of the leading software products in the life sciences commercial space. He has spent over a decade developing products in customer engagement, promotional measurement, and MLOps workstreams. In his role, Sameer is also responsible for defining the strategy, going to market plans, and executing Axtria's product vision.

He routinely partners with global commercial leaders to provide last-mile decision support, leveraging AI and technology to transform their businesses. Before Axtria, Sameer held increasing responsibilities in data analytics and technology consulting with expertise in sales and marketing operations, commercial model design, marketing mix, and patient analytics.

Over the years, he has partnered with customers on dozens of transformation initiatives requiring large-scale change management across various stakeholders. Sameer holds a bachelor's and a master's of technology degree from IIT Delhi.

YOUR HOST: JASMEET SAWHNEY 

Jasmeet Sawhney is a life sciences industry executive, marketing leader, and serial entrepreneur with deep roots in technology and data analytics. He is currently the global head of marketing at Axtria. Jasmeet has over 20 years of experience in the life sciences domain and has helped build and scale three successful companies. He has received several company and individual awards, including Inc 500, Deloitte Fast 500, Crain’s NY Fast 50, NJBiz Fast 50, Business of the Year, SmartCEO Future 50, Top CMO, Forty Under 40, and many more.

Jasmeet Sawhney - LinkedIn

Axtria on LinkedIn

Sameer Sardana - LinkedIn

Matt Bachman is in charge of the Commercial Operations for Milestone Pharmaceutical company, a biotech company launching a novel treatment for patients with PSVT. Jasmeet and Matt discuss the intricacies of building a commercial function for an emerging pharma company, with Matt highlighting distinctions between working in a large pharmaceutical company versus a smaller one. They also delve into crucial factors influencing decision-making for the future, with a particular emphasis on the formidable challenge of navigating data considerations. Matt introduces a compelling and reflective concept, emphasizing that decisions must be "Fit for Purpose.” That is sound learning, no matter the size of your organization. 

IN THIS EPISODE:

[2:32] Matt discusses the key differences between working for large pharmaceutical companies and his current position

[3:41] Matt explains his vision for setting up the commercial function

[5:50] Matt discusses how he decides what priorities are needed for Milestone to benefit the company 

[8:05] Matt shares what components he wants to implement to build a foundation for data-driven commercialization, and he is developing a data governance system

[13:16] Matt speaks to the technologies and capabilities that they are planning for the future and how he is putting his team together 

[17:27]  Matt shares what he has learned in the process of setting up the commercial function

KEY TAKEAWAYS

• In a smaller company, when you don’t have the resources of a large entity, you have to determine the must-haves and what things would be nice to have. You need to be able to make adjustments quickly for growing or scaling back. 

• Connecting with stakeholders, department heads, and other management figures in a smaller organization is more straightforward. The absence of a sprawling corporate structure, as seen in larger companies, facilitates smoother and faster communication.

• A company can make a big mistake by spending resources on collecting data, and then they find out it needs to be more accurate data. The perfect time to make data governance decisions is when you are starting out before you start collecting massive amounts of data you won’t ever use. 

BIOGRAPHY: 

Matt Bachman brings over 20 years of experience in the insights and analytics arena at both large pharma and small biotech companies. During that time, he has worked closely with brand teams to commercialize numerous drugs in multiple therapeutic areas. These include drugs for type 2 diabetes and cardiovascular drugs that were first in class and novel therapies, as well as the ones that had little clinical differentiation, which presents its own set of challenges. From a customer standpoint, he has worked on commercializing drugs that targeted specialists and also the ones that targeted broad-based PCPs. He currently leads the commercial operations for Milestone Pharmaceuticals, a small biotech company launching a novel treatment for patients with PSVT. Before Milestone, Matt worked for large companies like GSK and BMS.

YOUR HOST: JASMEET SAWHNEY 

Jasmeet Sawhney is a life sciences industry executive, marketing leader, and serial entrepreneur with deep roots in technology and data analytics. He is currently the global head of marketing at Axtria. Jasmeet has over 20 years of experience in the life sciences domain and has helped build and scale three successful companies. He has received several company and individual awards, including Inc 500, Deloitte Fast 500, Crain’s NY Fast 50, NJBiz Fast 50, Business of the Year, SmartCEO Future 50, Top CMO, Forty Under 40, and many more.

Jasmeet Sawhney - LinkedIn

Axtria on LinkedIn

Matthew Bachman - LinkedIn

Sunil Agarwal is the Principal and Head of Clinical Excellence Practice at Axtria. He leads digital transformation and improvement programs for top pharma companies. Jasmeet and Sunil discuss how patients can be served better by including real-world data in clinical trials and research. Real-world data is not a replacement for traditional trials, but it is helping drive the future evolution and innovation in our industry. The goal is to save lives and provide better patient outcomes. Don’t miss this thought-provoking episode. 

IN THIS EPISODE:

[2:50] Sunil explains the challenges with randomized control trials and why we need to leverage real-world data 

[4:48] Sunil expands on how collecting environmental location or contextual data could lead to insights such as the correlation between activity and health changes 

[6:00] Sunil gives examples of cases using real-world data

[9:16] Sunil outlines challenges faced, for example, the quality of the data collected

[12:06] ​​Sunil expands on the regulatory considerations for using real-world data in clinical trials 

[14:43] Sunil shares a couple of the innovations and unique approaches that he is bringing to customers 

KEY TAKEAWAYS

• There is a lot of potential to effectively use all types of real-world data for clinical trials, even though it has its own set of challenges, such as data quality, privacy, and bias, and there is an emerging need for data-driven and digital solutions to utilize real-world data and minimize its limitations.

• There is a wider availability and increasing acceptability of real-world data among global regulatory bodies when companies follow key regulatory considerations. 

• To ensure successful and cost-effective use of real-world data for clinical trials, companies need a set of capabilities and some enablers, which include data science and engineering, domain expertise, ethical considerations, and support from regulatory agencies.

BIOGRAPHY: 

Sunil Agarwal is the Principal and Head – of Clinical Excellence Practice at Axtria. He leads digital transformation and improvement programs for top pharma companies across solutions, including next-gen clinical platforms, patient analytics, and automated regulated submissions. He has also spearheaded business function consolidation and technology modernization programs. As a thought leader, Sunil has shared his expertise at several international life sciences forums on emerging topics such as mHealth, clinical data sciences, and AI/ML. He is an active contributor to analyst and advisory briefings. Sunil holds M.Tech and B.Tech  degrees in Computer Science from Dortmund University, Germany.

YOUR HOST: JASMEET SAWHNEY 

Jasmeet Sawhney is a life sciences industry executive, marketing leader, and serial entrepreneur with deep roots in technology and data analytics. He is currently the global head of marketing at Axtria. Jasmeet has over 20 years of experience in the life sciences domain and has helped build and scale three successful companies. He has received several company and individual awards, including Inc 500, Deloitte Fast 500, Crain’s NY Fast 50, NJBiz Fast 50, Business of the Year, SmartCEO Future 50, Top CMO, Forty Under 40, and many more.

Jasmeet Sawhney - LinkedIn

Axtria on LinkedIn

Sunil Agarwal - LinkedIn

Ashish Thakur, a strategy and technology executive at Axtria, joins the podcast this week. Ashish has a proven track record of fostering business growth through insightful data utilization for his clients. We'll dive into the concept he terms the "Journey of Data" and use real-life examples to illustrate how this approach can effectively transform struggling businesses into thriving ones. Furthermore, we'll delve into the signal-to-noise ratio, discerning the value of data and distinguishing between meaningful and irrelevant information. Join us for an insightful exploration of the Journey of Data and its practical applications in business.

IN THIS EPISODE:

[2:40] Ashish explains what the “Journey of Data” means for a specific business or organization
[5:04] Ashish describes how one can decide and identify relevant data sets to use 
[6:38] There is a difference in the quality and the usability of these data sets 
[8:30] Ashish gives an example of a signal-to-noise ratio
[11:44] Ashish supplies an example of the various stages: the start, the evolution, the growth and the conclusion of the journey of data 
[17:27] Jasmeet inquires about how Ashish helps his customers 
[20:59] Ashish discusses some key takeaways 

KEY TAKEAWAYS

It’s important to recognize and vet the critical business objectives you want to achieve and operationalize the drivers and how they will be deployed.

It’s essential to acknowledge the signal or signals to track and the appropriate KPIs, which would help you measure this. KPI is not the governing factor. Interpretation of the KPI is the governing factor.

The key determinant in keeping our true north aligned is giving the correct information to the right audience at the appropriate business life cycle as it progresses.

BIOGRAPHY: Ashish Thakur
Ashish Thakur is a seasoned strategy and technology executive with a track record of incubating business units, building products and platforms, and establishing critical processes to grow businesses efficiently. 

Over and over again, Ashish has redefined what it means to bring delight to customers. He has successfully turned around dysfunctional business charters and applied a non-linear scale to drive growth. He can do this by leveraging 25 years of cross-functional and multi-country experience across business and technology within the Pharma and Healthcare space.

At Axtria, Ashish leads the BI Reporting & Visualization competency center. He owns the charter to make processed data impactfully rendered to deliver meaningful insights to the full spectrum of executives and stakeholders.

Ashish holds a Bachelor in Engineering from Delhi College of Engineering and an MBA from IIM Ahmedabad.

YOUR HOST: JASMEET SAWHNEY 

Jasmeet Sawhney is a life sciences industry executive, marketing leader, and serial entrepreneur with deep roots in technology and data analytics. He is currently the global head of marketing at Axtria. Jasmeet has over 20 years of experience in the life sciences domain and has helped build and scale three successful companies. He has received several company and individual awards, including Inc 500, Deloitte Fast 500, Crain’s NY Fast 50, NJBiz Fast 50, Business of the Year, SmartCEO Future 50, Top CMO, Forty Under 40, and many more.

Jasmeet Sawhney - LinkedIn

Axtria on LinkedIn

Ashish Thakur - LinkedIn

In this episode, we are delighted to have Arvind Balasundaram as our guest, who serves as the head of the Commercial Insights & Analytics (I&A) division at Regeneron, a pioneering biotechnology firm renowned for its groundbreaking medical innovations. Our conversation centers around data, analytics, and artificial intelligence (AI)'s pivotal role in the Life Sciences industry. Arvind shares his insights on the three significant shifts currently unfolding in the realm of data and analytics, and he delves into the crucial consideration of quantity versus quality when making data-driven decisions. Tune in to gain a deeper understanding of how the dynamics of this industry are transforming.

IN THIS EPISODE:

[4:06] Arvind discusses significant changes in data and analytics and focuses on the first major change.

[8:18] The second major change is the evolution from small data to big data we can store.  

[10:43] The third change is how much data we have to parse before we get to knowledge and how quickly we have to turn it around from input to output.

[12:41] Arvind shares his thoughts on the quality versus the quantity of insights and what insights and analytics are all about.

[17:56] Arvind discusses how you make choices on what data you select.

[22:34] Arvind explains why decision-makers need to drop their biases regarding data curation, and he gives an example.

[25:55] Arvind discusses the realm of possibility versus probability. 

[33:44] Arvind explains what he sees as the challenges moving forward and how he sees mindset and culture changing.

KEY TAKEAWAYS

• The concept of having more data is good; however, what is more important is getting the data you need, not just more and more in quantity.

• The cost of data can be prohibitive, so the selection of the data used is critical.

• Data that includes sentiment would be a more accurate way of doing insights and analytics in healthcare.

BIOGRAPHY: Arvind Balasundaram 

Arvind leads the Commercial Insights & Analytics (I&A) group at Regeneron, a leading biotechnology company that invents life-transforming medicines for people with serious diseases. In this capacity, he oversees the implementation of deep insight frameworks and analytical capabilities to help bring the power of science and new medicines to patients who need them. A primary focus of the I&A group is to help realize Regeneron’s mission to do well by doing good.

Prior to Regeneron, Arvind also spent time at Sanofi, Johnson & Johnson, Bristol-Myers Squibb, and Pfizer, mainly on the early pipeline and launch side of the business. During his tenure at these companies, he participated in several industry-leading pharma brand launches, spanning diverse therapeutic areas. 

Arvind earned his MBA from the Owen Graduate School of Management at Vanderbilt University. He also recently attained the Award of Achievement in Digital Analytics degree from the University of British Columbia (in association with the Digital Analytics Association) and a Certification in Data Science at UC Irvine (in association with Predictive Analytics World). He is a former Associate in the Applied Analytics Capstone program at Columbia University and a member of the Design Thinking Advisory Board at Rutgers University.

Arvind is a past President of the Pharmaceutical Management Science Association (PMSA). His interests include exploring new capabilities to enrich the understanding of customer experience and engagement in omnichannel business ecosystems, staying engaged in the evolution of machine intelligence and AI, and identifying choice contexts and biases in noisy decision-making environments. 

YOUR HOST: JASMEET SAWHNEY 

Jasmeet Sawhney is a life sciences industry executive, marketing leader, and serial entrepreneur with deep roots in technology and data analytics. He is currently the global head of marketing at Axtria. Jasmeet has over 20 years of experience in the life sciences domain and has helped build and scale three successful companies. He has received several company and individual awards, including Inc 500, Deloitte Fast 500, Crain’s NY Fast 50, NJBiz Fast 50, Business of the Year, SmartCEO Future 50, Top CMO, Forty Under 40, and many more.

Jasmeet Sawhney - LinkedIn

Axtria on LinkedIn

Arvind Balasundaram - LinkedIn

It is crucial for life science businesses to keep up with the fast changing technology in their space. Shikha Singhal, the Head of Data Science practice at Axtria joins us to discuss how the shift in technology is impacting life sciences and why data science is suddenly rising to the attention of so many people currently. She discusses the challenges that customers are facing and how companies should build the capabilities to handle the challenges. Tune in today to learn where companies are seeing the most immediate impacts and how to stay ahead of the curve. 

In This Episode:

[3:13] Why are we talking about data science now? It's been around for a while - what has changed?

[6:04] What is the impact on life sciences due to the changes in technology?

[8:36] What kind of challenges are customers facing as they try to adapt?

[13:13] How should companies build the capabilities to handle the challenges?

[19:46] Are there any specific applications of data science where customers are seeing immediate impact?

[22:16] What are the innovations and unique approaches Shikha brings to her customers?

Key Takeaways:

With the recent advances in technology, data science has the potential to transform internal operations for scale and agility and revolutionize the way we identify and engage with customers, which in turn has a significant impact on business and patient outcomes.

A large majority of these initiatives fail because of various reasons that are shared in the episode.

It is critical that life sciences companies plan upfront and invest in the right partners and technologies but most importantly on the people and culture front.   

Bio: 

Shikha Singhal
Shikha leads the Data Science practice at Axtria. She is the force behind productionizing AI/ML at many of the top global life sciences companies. As someone who understands the scope and scale of AI/ML applications within our industry, I can attest that this role comes with a lot of responsibility and requires a tremendous amount of experience and knowledge. And Shikha has no shortage of both. In fact, she is one of the very few leaders I know who have such an extensive array of experience across the life sciences domain, business operations, data analytics, and building new capabilities and solutions. But it’ll be a miss if I don't mention the expertise that probably matters the most - it's her ability to build, train, and effectively scale teams. Shikha is truly a champion when it comes to developing and solidifying culture, enabling the teams to reach their potential. This is what I call her "superpower", which alone sets her so far apart from the other data science leaders. Shikha has spent over two decades in the Life Sciences industry and her impact can be seen not only at Axtria but at all the global life sciences companies she has helped throughout her career.

Your Host - Jasmeet Sawhney

Jasmeet Sawhney is a life sciences industry executive, marketing leader, and serial entrepreneur with deep roots in technology and data analytics. He is currently the global head of marketing at Axtria. Jasmeet has over 20 years of experience in the life sciences domain and has helped build and scale three successful companies. He has received several company and individual awards, including Inc 500, Deloitte Fast 500, Crain’s NY Fast 50, NJBiz Fast 50, Business of the Year, SmartCEO Future 50, Top CMO, Forty Under 40, and many more.

Links Mentioned:

Axtria: Better Health Outcomes with AI, Digital Transformation, Omnichannel

Shikha Singhal LinkedIn

Jasmeet Sawhney LinkedIn

Patient experience and engagement is so vital to their health success. Vishal Singal, a Principal at Axtria, highlights why patient engagement is so critical and what aspects need to be implemented for patients to feel like they are in charge of their health and medical decisions. He is helping pharma companies drive patient engagement by focusing on patient preferences and goals, the limits or tools set in the ecosystem that develops trust and transparency with the patients, integrated experience, and growing patient cohorts. It’s essential for patients to feel like they are in control. Tune in today to hear why patient engagement is so critical.  

Links Mentioned:

Vishal Singal LinkedIn

Jasmeet Sawhney LinkedIn

The evolution of marketing mix modeling is changing how companies do business. Not only is it affecting how analysts and business users relate to the marketing mix, but it is also creating a large shift regarding budgeting. Dr. Rosenwein, the Director of Advanced Analytics & Data Science at Bayer, joins us to discuss what he is seeing with the evolution of marketing mix modeling and how to prepare for the future. He talks about what we have seen so far in the marketing mix evolution and what is the driving force behind it. Dr. Rosenwein also highlights why understanding evolution is critical to be successful in the marketing space. Tune in to learn how to apply changes to your business and prepare for the future.

In This Episode:

[3:07] How has the marketing mix practice evolved, and what drives the change?

[4:47] How are the technical sides evolving in the marketing mix?

[7:23] How is AI/ML impacting the marketing mix?

[8:26] Does Dr. Rosenwein believe software is changing this field? 

[10:19] Are the marketing mix budgets getting impacted by the evolution?

[12:34] What changes does Dr. Rosenwein see for the next five years?

[14:14] How are the roles of an analyst and business user changing as they relate to the marketing mix?

Key Takeaways:

There is increasing pressure on businesses to invest wisely in promotions and choose their allocations optimally.

It is essential that interdependencies are modeled between promotion tactics. 

There is a higher trend in utilizing digital tactics, and the ROI shows that the higher budget towards digital tactics is successful.

Bio: 

Moshe Rosenwein is interested in the application of optimization models and methods to business problems across many application areas: pharmaceutical marketing and sales, customer relationship management, e-commerce, call center operations, telecommunications network design, and supply chain optimization. He spent his 34-year career at AT&T Bell Laboratories, Medco Health Solutions, Novartis, Eisai, and, currently, Bayer. In his current role, Rosenwein is responsible for optimizing the allocation of promotion resources – including sales force personnel and digital media – across the Bayer portfolio.

Links Mentioned:

Moshe's LinkedIn Profile

In today’s episode we are joined by Terry Coutsolioutsos, Senior Vice President of Sales Operations, Marketing, and Communications at Siemens Healthineers. We discuss how the “experience economy” has become so critical for business, yet the life sciences industry still struggles to meet the needs of both their customers and employees. Tune in to learn how these companies can use data and analytics, and the right mindset, to adapt quickly.

IN THIS EPISODE:

[2:50] Why has the “experience economy” become so important, not just for MedTech but for the success of every business?

[5:28] What are the current trends in the experience economy?

[9:03] The key customer experience changes that must be made by Med Tech companies.

[11:25] How do organizations adapt to the generational differences in its workforce?  How do they keep these different generations engaged?

[14:43] The role played by data and insights in driving both customer and employee experiences.

[17:39] The challenges organizations face in collecting, analyzing and using data to drive experiences.

[19:50] How must leaders adapt in this environment?  Does there need to be a change in their mindset?

KEY TAKEAWAYS

• The internal and external work environment has changed drastically, driven by key areas: generational demographic shifts, Covid which has made our virtual worlds come alive, and rapidly changing buyer and employee preferences.
• Business demands and needs are shifting. Commercial teams need to have the data to understand the market and organizational performance. Customer and employee experiences need to be measured and addressed, because implications are significant.
• Today’s organization needs to have a transformation mindset. Specifically, about how to adapt to environmental and market changes and how to empower teams to adapt to the external changes around them.

BIO:

Terry Coutsolioutsos has over 30 years of medical device and technology experience across multiple market segments and specialty verticals. He has worked at companies like Siemens Healthineers, Abbott Vascular, and Boston Scientific, and has built a long and successful career in sales, marketing, commercial operations, and strategic corporate accounts. Most recently, Terry led the Marketing, Commercial Operations, and Communications teams for Siemens Healthineers North America, where his team was chartered with cohesively positioning and marketing the company, demonstrating value to key decision-making customer segments, and supporting a harmonized approach to sales operations excellence.

Terry Coutsolioutsos on LinkedIn

Axtria on LinkedIn

In today’s episode, we are joined by Mehmet Bozbay, Head of Field Deployment, Incentives & Analytics at Astellas Pharma US. We discuss the evolution of the field force and how it plays into the success of sales reps. Mehmet talks about the shift seen since the pandemic and what areas need enhancing to create the proper execution and effectiveness for success. He talks about how the role of sales reps is evolving and where customers are expecting more. Tune in to learn how healthcare providers and sales reps are changing the game, where they are investing, and other tips on improving the quality of their field force. 

IN THIS EPISODE:

• [2:40] Strategy and evolution for deploying the field force and the impact due to COVID. 
• [4:20] Customer standpoint: how have their needs evolved?
• [5:30] How did interactions change during the pandemic?
• [8:00] Are call plans still available in this new world?
• [9:20] How are pharma companies adapting to ensure their reps are prepared and qualified to conduct business within account-based models?
• [11:08] What evolution do you see in incentivizing the field force?
• [13:18] How should analytics interplay with field force operations? 
• [14:21] What does the field force roadmap look like? 

KEY TAKEAWAYS:

• In the post-COVID world, the need for a well-rounded promotion strategy is extremely important. Having personal and non-personal promotion levers in their swim lanes can lead to many lost opportunities.
• The role of a sales rep is more important than ever in an increasingly complex marketplace. A harmonized deployment approach, incentives, and supporting analytics enable the success of the sales rep of the future.
• Successful implementation of an omnichannel strategy requires alignment and buy-in across the organization.   

BIO:

Mehmet Bozbay is Head of Field Deployment, Incentives & Analytics at Astellas Pharma US. He has more than 18 years of experience in sales and marketing strategy and operations. His specialties are Salesforce Incentive Design & Compensation, Sales & Marketing Operations, Field Analytics, and more. Mehmet has been with Astellas Pharma US for over eight years. 

LINKS MENTIONED:

Mehmet Bozbay LinkedIn

Astellas Pharma US 

Axtria on LinkedIn: https://www.linkedin.com/company/axtria/