What is Advanced Analytics?
Advanced Analytics is a term used in pharma often referring to the use of tools such as machine learning and artificial intelligence to help improve commercial targeting, market understanding (including segmentation), inform strategic decision-making, etc. This function is usually part of the commercial organization and supports marketing teams in making decisions on how to compete in the market. In many larger companies it will be a distinct team from Business Analytics, which tends to use more traditional methods, but it is possible for both to be part of the same group.
Advanced Analytics has been a growing part of the pharma armamentarium as companies look to make more data-driven decisions and as these methods have generally become more accessible.