{"id":218,"date":"2014-01-16T11:35:04","date_gmt":"2014-01-16T17:35:04","guid":{"rendered":"http:\/\/www.rx-edge.com\/blog\/?p=218"},"modified":"2016-05-24T09:53:44","modified_gmt":"2016-05-24T14:53:44","slug":"insights-gained-from-smaller-data","status":"publish","type":"post","link":"https:\/\/www.instephealth.com\/blog\/insights-gained-from-smaller-data\/","title":{"rendered":"Insights gained from Smaller Data"},"content":{"rendered":"<p>With the pervasiveness of Big Data discourse these past couple of years, I thought I\u2019d take the opportunity to address another kind of data and its deployment in the world of pharma marketing in the retail pharmacy.\u00a0\u00a0 Wikipedia describes big data as the term for a collection of data sets so \u201clarge and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications.\u201d \u00a0An InfoGraphic on the website of the analytics provider Atomic Tower, Inc. notes that \u201cBig Data is about finding trends in extra-large data sets.\u201d \u00a0The effective usage of big data within the pharmaceutical sector has far-reaching implications for patient communications, clinical trial strategies, R&amp;D, monitoring drug effectiveness, and beyond.<\/p>\n<p>But even in the face of the big-data movement, it\u2019s nice to know that there are nuggets of smaller data out there as well which are easier to grasp and of great value nonetheless.\u00a0 I\u2019m talking about the data used in the tests that evaluate the impact of marketing programs delivered in the pharmacy.<\/p>\n<div id=\"attachment_231\" style=\"width: 582px\" class=\"wp-caption aligncenter\"><img aria-describedby=\"caption-attachment-231\" loading=\"lazy\" class=\"wp-image-231  \" title=\"Matched-Panel Research\" src=\"http:\/\/www.rx-edge.com\/blog\/wp-content\/uploads\/2014\/01\/new-chart-1024x530.jpg\" alt=\"Smaller data\" width=\"572\" height=\"295\" srcset=\"https:\/\/www.instephealth.com\/blog\/wp-content\/uploads\/2014\/01\/new-chart-1024x530.jpg 1024w, https:\/\/www.instephealth.com\/blog\/wp-content\/uploads\/2014\/01\/new-chart-300x155.jpg 300w, https:\/\/www.instephealth.com\/blog\/wp-content\/uploads\/2014\/01\/new-chart-500x258.jpg 500w, https:\/\/www.instephealth.com\/blog\/wp-content\/uploads\/2014\/01\/new-chart-700x362.jpg 700w\" sizes=\"(max-width: 572px) 100vw, 572px\" \/><p id=\"caption-attachment-231\" class=\"wp-caption-text\">Smaller data that\u2019s comprehensive and comprehensible!<br \/>Any differences in prescription sales in the test panel and the control panel show the marketing effort\u2019s impact.<\/p><\/div>\n<p>Through the use of retailer prescription data, matched-panel research can be implemented. This Experimental Design involves the creation of control and test stores which provides an excellent foundation for 1) measuring the effect of the consumer effort on the actual purchase of medications and 2) determining the return on investment. The sales differences between control and test stores can be calculated and extrapolated across the entire group of stores to ascertain the impact on sales.\u00a0 \u00a0<i>It is a perfect closed loop for quantitatively determining the effects of pharmacy based programs.\u00a0 <\/i>It may not be BIG data, but it is definitely highly ACTIONABLE data.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the pervasiveness of Big Data discourse these past couple of years, I thought I\u2019d take the opportunity to address another kind of data and its deployment in the world of pharma marketing in the retail pharmacy.\u00a0\u00a0 Wikipedia describes big data as the term for a collection of data sets so \u201clarge and complex that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":950,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/posts\/218"}],"collection":[{"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/comments?post=218"}],"version-history":[{"count":17,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/posts\/218\/revisions"}],"predecessor-version":[{"id":951,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/posts\/218\/revisions\/951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/media\/950"}],"wp:attachment":[{"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/media?parent=218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/categories?post=218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/tags?post=218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}