What is Salesforce Einstein Analytics?
Salesforce Einstein Analytics is a cloud-based platform and one of the popular products of Salesforce. This tool is mainly used for data exploration, visualization, and for getting insights for businesses. Einstein Analytics is a scalable and secure solution that pharma manufacturing companies can use to fulfill their goals.
With pre-built reports and dashboards in Salesforce CRM, Einstein Analytics provides high level insight from large and complex data. This platform gives tools to the pharmaceutical industry for prepping, exploring data, defining logic in dataflow, and designing dashboards.
Why Use Salesforce Einstein Analytics for Pharma Manufacturing?
Pharma manufacturing companies can use Salesforce Einstein Analytics and draw accurate insights that will help them take data-driven decisions. Einstein Analytics, powered by AI can perform advanced analytics, provided there is enough CRM data. These smart insights enable pharma agents, analysts, marketers, and sales representatives to have better interactions with other businesses, and avoid complex processes to derive insights.
This platform provides a comprehensive range of self service and customized analytics tools so that users can uncover and sift through all complex data sets and pipeline dashboards to provide sales forecasts. With the ability to automatically analyze millions of data combinations, Salesforce Einstein Analytics provides prescriptive sales recommendations and predictive insights that facilitate better decision-making processes.
Benefits Drug Manufacturers can Gain By Leveraging Salesforce Einstein Analytics
Let’s dive into some key benefits of using Salesforce Einstein Analytics in Pharmaceutical Industry:
Improved Sales Performance
The pharmaceutical manufacturing industry is highly competitive, and the success of the organization depends on the number of leads the sales representatives can turn into opportunities. To help these representatives achieve their targets businesses can leverage Salesforce Einstein Analytics that allows sales leaders to monitor the sales pipelines efficiently. This platform helps the sales representatives compare actual performance against predetermined sales targets throughout the sales cycle.
Einstein analytics help sales leaders easily evaluate their team’s performance and address performance issues. It also allows pharmaceutical suppliers to identify high-performing sales representatives. By identifying high-performing employees, sales leaders can ask their team to replicate the same strategies across the organization.
Additionally, with the help of Einstein Analytics, sales teams can also harness unstructured market data from external sources to gain competitive understanding. The platform facilitates the sales employees to strategically launch products to their clients, helping them to quickly close deals.
Optimized Sales Pipeline
Salesforce Einstein Analytics provides real-time insights to sales agents, helping them track new deals and swiftly close deals. This analysis helps evaluate opportunity trends and identify previously missed chances. In pharma manufacturing companies, the sales cycle is a lengthy process. To keep track and stay updated with the sales cycle, Salesforce Einstein Analytics enables representatives to nurture potential leads and opportunities without losing track of them.
Enhanced Forecasting
By utilizing Salesforce Einstein Analytics, pharma sales teams can generate accurate sales and revenue forecasts. The platform provides comprehensive forecasting dashboards that empower sales managers to actively plan sales strategies and implement corrective actions to ongoing issues. This foresight also helps in establishing realistic sales quotas and targets, as Einstein Analytics provide a clear picture of when specific types of deals are likely to close.
Whitespace Analysis
The whitespace analysis dashboard in Salesforce allows sales leaders to identify opportunities that can improve sales and revenue for their business. Salesforce Einstein Analytics can perform a thorough whitespace analysis and reduces time and effort. It analyzes vast data sets to uncover insights that help pharmaceutical equipment manufacturers identify cross-selling opportunities within their client base and identify audience segments which might have been overlooked by competitors.
This platform also reveals imminent gaps in the organization’s sales strategy, such as highlighting neglected audience groups and pointing out why the demand of high-performing products is declining. Salesforce Einstein Analytics can also accumulate data from the social media platforms of the organization.
This facilitates the pharma manufacturing companies to understand user sentiment about their products and assess the performance of competitors on sales. It also helps businesses gather feedback and identify opportunities for improvement.
What do Pharma Manufacturing Companies Require to Implement Salesforce Einstein Analytics?
Data Quality
Pharma manufacturing companies need to frequently verify if their data is current, complete, and consistent for Salesforce Einstein Analytics. Gathering clean data helps drug manufacturers create successful sales strategies.
Pharma manufacturing companies need to regularly update and cleanse datasets to ensure accuracy and reliability. This helps sales leaders to make informed decision-making and plan strategies for precise targeting clients.
Train Your Sales Teams
Pharma manufacturing companies need to equip sales teams with thorough training on Salesforce Analytics tools. Familiarization with platform’s features encourages employees to easily adapt to this platform, boosting efficiency and productivity. It also allows employees to segment customers according to their behavior, increasing personalization of services. Training should also cover data visualization, forecasting, and whitespace analysis.
Enhance Collaboration
Adapting Salesforce Einstein Analytics helps your sales and marketing teams to collaborate seamlessly. Your organization can achieve sales targets easily by sharing data easily with Einstein Analytics. This also provides opportunities for the company to enhance customer engagement.
Encourage Continuous Improvement
Even after implementing Salesforce Einstein Analytics, pharma manufacturing companies should regularly strive for continuous improvement. Frequently evaluating performance metrics and quality initiatives helps businesses to adapt easily to changing market dynamics and customer preferences. If your business wants to stay agile in this competitive pharmaceutical industry, you need to monitor outcomes, identify improvement areas, and implement necessary changes.
Security and Compliance
Utilize Salesforce’s robust security features to safeguard your sensitive pharmaceutical data assets. This platform helps you maintain trust and integrity with other healthcare industry professionals by adhering to regulations such as HIPAA and GDPR.
Challenges Pharma Manufacturing Companies Face While Implementing Salesforce Einstein Analytics
How Kasmo Solves These Challenges
As a proud Salesforce Crest Partner, Kasmo empowers pharmaceutical manufacturers to optimize their operations and enhance efficiency by leveraging Salesforce’s advanced capabilities.
For instance, Kasmo partnered with VerGo Pharmaceuticals to enhance their sales processes by implementing Salesforce Sales Cloud. This solution streamlined lead generation, automated multi-currency management and quotation generation, and improved contract oversight.
Our experts also integrated Outlook with Salesforce which allowed seamless access to customer data. A customized dashboard was also set up that provided the sales leaders with real-time performance metrics. This facilitated Vergo Pharma to increase their efficiency and improve operational performance in the pharmaceutical market.
Explore how Kasmo streamlined Vergo Pharma’s sales process: Read the Success Story!
