Best Results

And the Best Results are Awarded to…

The big show is finally here! After a seemingly endless string of award shows, the stars will put on their best-dressed Oscar looks to walk down the biggest red carpet on February 28th. The Oscars ceremony is the event of the season. Viewers watch eagerly from their couches to see what the celebrities are wearing and who will walk away with a golden statue. Everyone has their own favorite portion of the Oscars. For some it is the red carpet fashion, and others may enjoy seeing their favorite movie take home the night’s big award.

Most would agree that the dullest part of the award ceremony occurs when it’s time for the third-party accounting firm to get up to the podium. Every year, the men and/or women that represent the accounting firm of PricewaterhouseCoopers, announce that the votes they calculated and not by The Academy. Viewers might use this moment as an opportunity to refresh snacks or take a bathroom break. This portion of the event may seem less-than-thrilling, but it is actually an extremely important aspect of the proceedings.

Without the PricewaterhouseCoopers accountants, those valuable Oscar votes wouldn’t be presented with the assurance of accuracy and certification. The accountants no doubt feel an overwhelming sense of pride in knowing that they are responsible for such a huge part of the huge award night.

“And the award goes to….”

The results that are contained in the presenter’s envelopes are crucial to the integrity of the Oscars. Accurately calculating the Oscar results are comparable to calculating the results of the Rx EDGE Solutions at the Shelf™ programs. Similarly to the Oscars, Rx EDGE also using a third-party firm to calculate and measure each program’s results. Retail Intelligence, INC., leader in store-level research analytics, measures the impact and results of our programs.

Retail Intelligence, Inc., uses an Experimental Design method and a matched-panel technique to gather the data and deliver results. The program impact is measured by using test vs. control store panels to measure program effectiveness, and then analyzed weekly by TRx and/or NRx script sales. Here are some key points in the research methodology:

  • Matched test and control panels, representative of the retailers’ store base, are created
  • Matched pairs are developed based on key components such as sales patterns, geography, and demographics
  • Panels are refined further based on volume during the base period, typically twelve weeks
  • Usage of the base period insures that scripting volume was comparable in test and control stores prior to the Rx EDGE program launch
  • Relative changes in sales are compared for the test vs. control panels to determine the Rx EDGE program’s effect on sales.

A full report and research results are supplied to the client at the conclusion of the analysis period, enabling pharmaceutical marketers to evaluate their results and optimize their investment.

The quantitative data analysis that is used to calculate the Oscar results plays a leading role in the proceedings. Analytics also play a central role in providing insights and opportunities for in-pharmacy media programs.

So when you are watching the Oscars on February 28th, don’t get up and head to the snack table when the third-party accounting firm get up to the podium to talk. Instead, feel free to stand and applaud their hard work.