Essay on Evaluating How Pfizer Uses Analytics
The premise of this analytical assessment was to evaluate how Pfizer uses analytics as it relates to decision making. The assessment focuses on the organization as a whole, with interviews from two colleagues in two different business units: Development Operations (GIP) and the Business Analytics & Insight (GEP). Overall, it is evident that Pfizer, as a consequence of being a heavily regulated pharmaceutical industry, must use scientific data to ensure that the products we make are safe and effective. My assessment concluded that, as expected, there are many moving parts to getting a product out in the market and that Pfizer is using analytics as a competitive advantage. The assessment also concluded that there is room for improvement in the area of knowledge sharing. Overall, the assessment finds that Pfizer falls under stage 5, the analytical competitor (as defined by Davenport and Harris in Competing on Analytics).
Decision making at Pfizer is heavily based on data. As a pharmaceutical company, science drives everything, and given the scrutiny we face from regulatory agencies, every decision we make needs to be based on data; data that can be retrieved and provided to the agencies or doctors at any given time. To be compliant is a prerequisite to being in the business. To be ahead of the rest, Pfizer recognizes that we need to be analytically savvy and innovation driven if we ought be become the premier pharmaceutical company we aim to…