System integrator and developer Navicon has presented its own analytical model developed considering specific needs of pharmaceutical manufacturers in Russia. The ready-made industry-specific BI model is compiled based on best practices of large-scale projects of business analysis in pharmaceutical industry: standardized mechanisms of calculating and approaches for data consolidation from various sources are implemented in it.
Moreover, in-built Power BI tools of data processing and visualization allow creating high-quality online reports and sharing them with colleagues in a few clicks. Thus, the same analyses are available to all company employees, while executives receive an opportunity to take informed management decisions based on constantly updated information.
The development of an industry-specific BI model was a response to the growth of Russian pharmaceutical industry by almost 24% within 2016 accompanied by the enlargement of top 20 players of the market. The expansion of pharmaceutical companies, the increase of investments into new manufactures and distribution channels demanded a more effective distribution and constant control of financial flows of organizations, as well as quick response to internal and market dynamics.