Advantages And Role Of Business Intelligence In GlaxoSmithKline Essay.

About Business Intelligence

GlaxoSmithKline is one of the leading British companies providing pharmaceutical services globally. The company is in London, England, established in 2000 by the merger of Glaxo. The company has currently had 94000 employees with a revenue of GB£34.114 billion. The company focuses on prioritizing R&D and commercial investments in vaccines mainly in medicines which have the of growing around three-quarters of the company sales by the end of 2026 (Al Amin 2018).  To maintain the position the company applies the proper business intelligence techniques. In this paper, the major advantages of business intelligence will be described which includes fast and accurate reporting of the data, valuable business insights, better data and service quality, identification of the market trends, improved and accurate decision making. Improved decision making is one of the main activities of an organization that can be achieved by business intelligence (Holman 2020). The paper also discusses the competitive advantages of business intelligence. For instance, business intelligence ensures customer satisfaction and strategies to avoid clashes with the other companies. The paper also discusses the roles of business intelligence in GlaxoSmithKline. For instance, it helps one build a reputation around the customers and creates a solid foundation for the insights.

Business indigence is one of the technology-driven processes for analysing and delivering the right information of the companies to help the individual to make better decisions. BI collects the information for the internal and external sources for the individuals to prepare for analysis and data visualisation. Business Intelligence uses the dashboard to make the reports and results for the business users to assist the individual in decision making and strategic planning (Ain et al.2019). The organisations adopt business intelligence to fulfil the goals by making better decisions that enable the organisation to improve the organisational revenue.

 Business intelligence processes use business analytics, data visualisation, data mining, data tools and infrastructure to assist in decision making. The organisation uses modern technology to keep the change in drive, eliminate the inefficiencies and quickly adapt to the changes in the market or supply. The technology has evolved and business intelligence has also evolved with more processes and activities for improved performance. Business intelligence processes include data mining which is done by using databases statistics (Thao 2020). Reporting which is done after data mining, performance metrics is the next process of Business intelligence where the individual compares the current data with the business goals. Other business intelligence processes include descriptive analytics, querying, statistical analysis, data visualisation, visual analysis, and data preparation.  Business intelligence assists the company in making better decisions by identifying the ways to increase profit, analysing the customer needs, comparing data with competitors, tracking performances, optimising operations, analysing the possible issues, and predicting the success. There are different types of tools and platforms that help the individual to analyse the process. This makes the technical aspect easier for people to understand.

Role of Business Intelligence in Glaxo SmithKline

The organization uses business intelligence to enable the accessing the data from disparate sources and multiple formats to provide actionable decisions, insights and metrics. Business intelligence assists the company with effective planning, customer satisfaction and value delivery which are the key factors for the company's success. Business intelligence helps GlaxoSmithKline to get the best competitive advantages and to make quick and effective results to make the change happen (Joghee et al. 2021).

GlaxoSmithKline is one of the leading parametrical companies and requires more focus on advanced pharma data analysis. Living in this generation where a huge amount of data is handled daily by the individual’s business intelligence helps make the data analysis more accurate. GlaxoSmithKline (GSK) is required to work on the current market data and current market tasks to keep the position of the leading pharmaceutical company. It helps the company identify the most suitable candidate for the potential drugs to avoid the harmfulness of the drugs in the industry. The pharmaceutical companies face different types of challenges and that includes patient-driven healthcare where the customer-based healthcare devices gather hue amount data and the individuals are required to analyses the huge amount of constantly growing data, past clinical trials where the individual handle the result of the on past clinical trials and tests for the ongoing future updates. The valuable insights if the patients’ drugs and the details of the adverse effects are sometimes challenging, and catching up with the rivals means researching about the drug product so that company can be aware of the market situation but the constant update and release of the new product make it difficult for the companies to analyze. Being the biggest pharmaceutical company, the individual has to deal with big data and business intelligence helps the company to deal with all the big data that assists in reducing the challenges.

There are different types of business intelligence that the company uses that include-

Market analysis: The BI presents the market analysis, which is proceeded with the external data of the health, IMO and WHO, including the data from the different internet sources to assist the company with better and real-time data for the better view of the entire industry (Saïd, Sevic and Phillips 2019). The annual revenue report of the GSK is shown in figure 1.

Figure 1: Annual revenue of GSK (Source: Google)

The sales analysis process provides the sales performance to monitor the consumer behavior, tracking orders, identification of the seasonal analysis and demand, the slow-moving or low demand products of the company, R&D delivery, and the sales outline ratio of the market (Meiyi 2019). The example of visualized sales analysis is shown in figure 2.

Sales Analysis

 Figure 2: Sales report of GSK (Source: GSK delivers FY 2021 reported sales, 2022)

Financial analysis:  The financial information and then visualization is done in financial analysis that allows the pharmaceutical companies to maintain the expenses and predict the future costs. It assists the company in the evaluation process of businesses, projects, budgets and other transactions or data to determine suitability. The company benefits from analysis of the entity, profit and investments (Summerfield, Barfield and White 2018).

Regulatory Analysis:  The constant tracking in the regulatory compliances is done by the regulatory analysis. It helps the company adhere to certain regulatory requirements which are one of the most important areas of an organization. It covers how the organization should manage the laws and regulations and how impactful are the regulations.

 The key to company success is pharmaceutical analysis with big data. The visualized real-time data makes it easy for the company to understand and work with the data. To maintain the business position and improve customer satisfaction, it is important to work with efficient data. Business intelligence makes it possible for the company to work with the required and actual data.

The business intelligence allows GSK to work with real time data or the individual and other company’s real-time data. The company's main competitors are Johnson & Johnson, Merck and Roche.  Business intelligence allows the individual to report the issues and services faster than other companies (Huang et al. 2021.). It also allows GSK to get high accuracy data which ensures that the company is following the current market demand. Not only the high accuracy but it also allows the individual to access the higher quality data for better services than the completive companies.

With business intelligence, the company can access the other company’s data and financial report and visualized reports make it easy for the company to understand the market analysis of others. Once the company gets the idea of other company’s market value, it becomes easy for the company to make and maintain the individual budget and revenue. BI helps in describing and analyzing each competitor company. The annual report, market revenue report and even the regulatory report make it possible for the individual to study the company's insight accordingly. For instance, if Merck increases the individual revenue, it becomes an opportunity for GSK to provide more services and get more sales by keeping the previous revenue. BI also helps in ERP. Having the right BI services lined with ERP systems ensures the company stays updated with the data. The individual will have more opportunities to grow compared to the competitive companies. Once the company get an idea about the market trends and values, it will become easy for the individual to provide better customer services-based customer demands (Jakhar and Krishna 2020). Figure 3 and Figure 4 shows the annual report of Merck and Roche. With the visualized data, the growth and market value can be analyzed easily.  Once the company has the idea about the market growth, strategies and the details of changes, it becomes easy to change and maintain the individual company value. Not only the customer satisfaction business intelligence also helps in planning the profit margins of GSK. It can be used to check and identify the inefficiencies and to improve the business profit and margins. The detailed data of the customers can help to let the organization be informed about they insights and make the better decisions and or which type of services should be provided by the company. The other competitive advantages which the company achieves through Business intelligence are identification of market trends and operational efficiency.

The Competitive Advantage of Business Intelligence

 Figure 3: Financial report of Merck (Source: (Merck and Co revenue 2006-2021 | Statista, 2022)

 Figure 4: Financial report of Roche (Source: (Roche Group net income 2007-2021 | Statista, 2022)

Conclusion

GSK is one of the leading pharmaceutical companies in the UK with employees of 94000 and revenue of GB£34.114 billion. To maintain the position and handle the market value, the company needs to adopt BI and use the different tools of BI. The visualized real-time data makes it easy for the company to understand and work with the data. BI assists the company with business analytics, data visualisation, data mining, data tools and infrastructure to assist in decision making. Pharmaceutical companies face different types of challenges and that include patient-driven healthcare, past clinical trials and competitors. This paper has concluded that GlaxoSmithKline (GSK) must work on the current market data and current market tasks to keep the position of the leading pharmaceutical company. It helps the company identify the most suitable candidate for the potential drugs to avoid the harmfulness of the drugs in the industry. The paper also concluded the importance of BI in the completive help the organization. The author has also concluded that the key to company success is pharmaceutical analysis with big data. The visualized data, real-time data makes it easy for the company to understand and work with the data.

References

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