Pharmaceutical companies are losing significant revenue due to inadequate customer data management practices, according to a recent industry report. The study highlights that before exploring advanced solutions like AI models to mitigate revenue leakage, pharma organizations must first address fundamental issues in their data management strategies.
Experts emphasize the importance of establishing a solid foundation for customer data management, including data accuracy, completeness, and integration across various systems. Without addressing these core challenges, the effectiveness of AI-driven solutions to prevent revenue loss may be limited.
The report recommends that pharmaceutical companies prioritize investments in data governance, quality assurance processes, and cross-functional collaboration to ensure a consistent and reliable customer data framework. By doing so, they can lay the groundwork for successful implementation of advanced technologies and ultimately minimize financial losses stemming from poor data management practices.