Jun Huangpu, Founder & CEO
Effective marketing and sales in the increasingly competitive pharmaceutical space requires the utilization of emerging technologies to analyze the markets, competitors and customer behaviors that provide deep actionable insights.
Analytics-based marketing strategies and promotional initiatives create opportunities to gain a competitive advantage to pharmaceutical companies as they navigate the complexity faced by their products and services. “If companies choose to employ traditional methodologies to gather insights, they are at risk of applying dated and overly simplistic views of the market to their promotional efforts resulting in suboptimal results” explains Jun Huangpu, founder and CEO at Cobbs Creek Healthcare. Huangpu points out “You wouldn’t make a real estate investment based on dated pricing data from last year and you wouldn’t make an offer on property based on the average price of homes in the area. So why should businesses make decisions with outdated and over simplified analytic approaches?”
Pennsylvania based Cobbs Creek Healthcare uses the company’s deep understanding of the life sciences industry combined with cutting edge analytic techniques they have pioneered to address these challenges. “We have developed techniques to allow our clients to receive insights in real time, incorporate them, and make accurate decisions to direct actions and allocate resources.” says Huangpu. After graduating from Harvard Business School and working in the pharma industry, Huangpu identified a significant unmet need for innovative analytic approaches in the life sciences space and started his own company in 2008. Cobbs Creek Healthcare emerged from the need for new and disruptive approaches to analytics to drive decision making in the rapidly evolving healthcare sector.
Cobbs Creek has developed approaches to overcome three primary challenges in how analytics are utilized in the pharma industry—an over dependence on historical insights, analytics and insights focused on average group behavior, and oversimplified associations between different promotional channels. Many organizations employ analytics where they obtain insights dependent on extended look backs at historical data sets and patterns, resulting in outdated insights and diminished value of analytic insights. In addition, conventional analytics approaches tend to generalize healthcare providers and institutions into pre-defined groups. This generalized grouping behavior results in sub optimal decision making and allocation of resources. Lastly, analytical approaches failing to account for interactions can provide misleading result. Conversely, Cobbs Creek Healthcare enables clients to capture all the customer-specific interactions concerning a product in real time and formulate a highly optimized and personalized promotion strategy.
Cobbs Creek is dedicated to understanding its client’s business, building strong personal relationships and understanding both the opportunities and challenges being faced. Cobbs Creek offers a full platform of analytic services but focuses their offering on client needs often beginning engagements with targeted projects, rapidly displaying the value of the insights to the client resulting in engagement in the other services the company offers.
Cobbs Creeks successes includes the company’s partnership with a multi-billion dollar pharma brand team that wanted to increase the efficiency of employed promotional resources. Cobbs Creek recommended replacing the client’s generalized marketing mix approach, utilizing insights generated from average behavior, long data look back periods, and conventional regression that resulted in inefficient application of marketing resources. The Cobbs Creek Healthcare team provided the analytic approach creating insights allowing the client to change their approach and make more efficient and effective decisions resulting in significant sales impact and cost savings.
The need for innovative and disruptive analytic approaches has led to Cobbs Creek expanding their workforce and hiring additional talent. “We plan to increase the scale of our operations to address the ever-increasing market need for innovative approaches to commercial analytics, data sciences, and rapid reporting” concludes Huangpu.