Yesterday, it was my pleasure to be interviewed by Nigel Walker of That’s Nice in Liberty State Park, New Jersey—the final state in the Road to 50 States, a road trip during which Nigel spoke to business leaders about the future and elimination of barriers to success in pharma.
I shared thoughts about some of the barriers I’ve seen in pharma, as well as in other industries. One definitive barrier for some clients is their inability to identify root causes—the whys of performance that falls short of goals. We help those clients focus on how to mitigate those barriers with data for sound decision-making. With our analytics, we visualize trends and gaps that are barriers to growth.
Some clients are stuck in success; they don’t know where to go next. That costs them 3% to 10% of their revenue, due to undelivered growth. They neglect to keep pace with the evolution of the markets they serve. As their markets mature and become more competitive, they become less differentiated and profitable as they continue doing what they’ve always done. What’s required is the transformation of internal processes to improve scalability and productivity and transformation of external processes that address unsatisfied pain points. Businesses need to upgrade their processes to mine nuggets of data-based insights that crystallize into actions that deliver growth.
Yesterday was a great day, and I am proud to have represented New Jersey on the Road to 50 States!