Pfizer knew that a shift to a data-driven culture was inevitable. The challenge was to make it sustainable. After all, as data usage increases, so do demands for better tools and platforms.
So, the U.S. pharmaceutical giant worked with U.S.-based enterprise analytics company MicroStrategy to build a sustainable data culture. The journey started with an internal transformation to highlight the importance of seeing as a critical corporate asset. It also showed why data needed to consolidate and structure data to make finding insights easier while accessible across different devices.
Through this exercise, Pfizer identified three primary decision-maker personas that used data differently.
“The first is the executive leadership team, who need to see very high-level financial data on a monthly basis. The second group we have is the intermediate level of senior leaders, who need to see data for a specific region, perhaps a business unit with a local hierarchy. And then the third group we have is the individual country managers or teams, who need very detailed information and detailed reports," said Steven Dawson, Pfizer’s senior director of digital finance.
MicroStrategy distilled the entire corporate data into various dashboards and reports with different access levels. This approach allowed for a smoother transition to a new data-driven culture by addressing the multiple needs of the users.
"In addition to that, it is a very good idea to identify metrics that would help you track adoption or non-adoption, and help shine a light on who is using the dashboards, what particular reports or worksheets they are using, maybe even what types of queries they are running, so we can subsequently improve the application but also ask questions," added Dawson.
As a result, data quickly became more actionable. Users applied data-driven insights across different areas of the business and markets.
Automation made financial reporting more straightforward and quicker. MicroStrategy sped up the data-driven digital transformation using a self-service approach to business intelligence. Increased interactability, integration of technology (like natural language generation), and chatbots saw Pfizer decision makers pushing the data envelope.
The integration of MicroStrategy also helped to streamline data, lighten the load on cross-departmental requests, and emphasize the need to upskill and adopt a new way of doing things at Pfizer.
"At MicroStrategy, we have started to try to solve what we call the 'last-mile problem' with Hyperintelligence, which gets insights to users who need them, when they need them, without the need to dig into dashboards and reports," said Phong Le, MicroStrategy’s president and chief financial officer.
Image credit: iStockphoto/Nadezhda Fedrunova