Updated: Sep 11, 2019
Small data - the next big thing?
The discussion on Big Data crosses borders and markets.
Analyzed data is collected from thousands of sources, provides a broad response in many fields and enable us to reach better insights that dictate the future.
"Big DATA" have made changes in the field of disease prevention, disease detection, etc. But in the local pharma market,
Big Data is not as contributing, and what is more important is to create a system of data that can contribute, promote and motivate the local market. Small data does not get the right credit but without them Big data is not worth much.
What is “small data”? Names, phone numbers, correct e-mail addresses, Facebook client profiles,preferred social media etc. - all these are examples of the small data that drives the market-good client profile. In the pharma market the first target audience that drives it is the doctors. At the Israeli market, the most extensive specialties are family phy’., internal and pediatric with 5,000 active physicians, 2400 doctors and 1800 active physicians respectively. Market - defining the area in which we operate, products, services, customers, strategic partners and more. Every market has its own characteristics: culture, rhythm, interaction and unique language. This rule is also valid in the Pharma market, so when we have the full data, including of the habits of registration and motivation habits of the "prescriptions" We can build client-focused action plan for each product.
The most important challenge associated with data collection is ultimately the proper use of it to make business decisions. Most of these local decisions do not need large data: they need the right data mainly local (small) at the right time.
Monitoring and analyzing insights from the data should be a routine, constant process and at adjusted intervals, when there are constant parameters that are monitored. Each market and its parameters.
This post has been translated from Hebrew