Eight trillion gigabytes of data. That’s the amount of information that the average human being searching the internet amasses in a single day. Parcels of everything we do in our lives — where we go, what we eat, what we watch — is recorded and stored.
In his book Everybody Lies: Big Data, New Data, and What the Internet Can Tell Us About Who We Really Are, former Google data scientist Seth Stephens Davidowitz shows, in stunning example after stunning example, how big data provides nothing less than a new way to study the human psyche.
This wealth of information, which would be unimaginable just twenty years ago, is what has powered some of today’s most successful companies — companies like Amazon, Google, Netflix, and Uber. It boils down, more or less, to getting more of what customers want in front of them and making it easy for them to make a purchase.
The way they did it was by looking at customers’ behavior empirically and then giving them more of what they want. YouTube started out as a dating site. Their theoretical market research suggested this was a good business model. When the empirical data contradicted this theory, when customers showed a preference for finding high-quality, targeted videos online, they ditched their theoretical research, and YouTube was born.
Big data for pharma brands means going beyond traditional data sources to spot new market trends before the competition and to generate growth. Big data provides unprecedented levels of context data — demographic, behavioral, environmental — on patients and practitioners. It can and should be used to gain insight into everything from patient behavior and practitioner prescribing habits to treatment effectiveness.
When your sales content and messaging appeal to both conscious and subconscious drivers, there is a better chance of behavior change. Typical market research, which relies on information they get from asking questions, is not totally reliable because there is a huge difference between what people say and what they actually do and think.
From the beginning, Quantum Learning has gone deeper, performing behavioral research and blinded field rides that get at the real drivers of change. We understand the need to have both rational and emotional connections with all HCPs along the continuum of care from physicians to mid-levels to other office staff. We also know that what the doctors say in response to a question isn’t necessarily what they really think or what they actually will do. Because often we are unaware of what really drives our behavior: so, in a sense, everybody lies…even healthcare providers.
Our research has found that if our sales force is to effect change in the practice as a system of care, we need to focus on both mindset and behavior. We begin, first, with your district managers, who are the key to behavior change in the field. Then your managers cascade and pull through to your sales reps, they in turn influence the mindset and behavior of every stakeholder along the continuum of care to differentiate your brand and effect changes in behavior that drive market share.
Check out our inaugural FREDcast video blog, which summarizes some of Quantum’s ground-breaking research and reveals the 3 predictors of success in biopharmaceutical sales and life.