Pharma Sales Data Analysis and Forecasting | Pharamaceutical | Python

Business Impact

  • The use of AI for sales forecasting is a game-changer for any industry-targeted companies that need an edge in the competitive market today.
  • These predictive solutions help businesses plan their future growths and take more reliable risk management strategies to improve their sales.
  • Many industrial leaders like McDonalds, Colgate, Amazon, and Netflix have applied predictive analytics solutions to smoothen their sales and customer-centric demands.
  • As in the Healthcare sector, we have worked with a pharmaceutical company in building an AI-based forecasting solution that captures any seasonal patterns in the sales and then preserves them for analysis providing monthly and quarterly sales predictions.
  • These sales predictions help their sales and operational team in planning their businesses and make faster decision-making to improve their revenue.

Technology

Solution Overview

null

Initial statistical tests were performed to check for seasonality, volatility, and trends.

null

ETL Process was performed on the data to suppress noise

null

Then various models such as ARIMA, SARIMA, Facebook Prophet were experimented. The best performing model was chosen

Impact

null

Ability to forecast monthly, and quarterly sales for a product that would help to make better decisions and informed decisions for each of the products

Trusted and Proven Engagement Model

  • A nondisclosure agreement (NDA) is signed to not disclose any sensitive information revealed over the course of doing business together.
  • Our NDA-driven process is established to keep clients’ data and IP safe and secure.
  • The solution discovery phase is all about knowing your target audience, writing down requirements, and creating a full scope for the project.
  • This helps clarify the goals, and limitations, and deliver quality products & services.
  • Our engagement model defines the project size, project development plan, duration, concept, POC etc.
  • Based on these scenarios, clients may agree to a particular engagement model (Fixed Bid, T&M, Dedicated Team).
  • The SOW document shall list details on project requirements, project management tools, tech stacks, deliverables, milestones, timelines, team size, hourly/monthly rate cards, billable hours and invoice details.
  • On signing the SOW, an official project kick-off meeting shall be initiated.
  • Our implementation approach, ecosystem, tools, solutions modelling, sprint plan, etc. shall be discussed during this meeting.

Our Award-Winning Team

A seasoned AI & ML team of young, dynamic and curious minds recognized with global awards for making significant impact on making human lives better

Awarded Bronze Trophy at CII National competition on Digitization, Robotics & Automation (DRA) – Industry 4.0

null

5 yrs

in AI & ML
Engineering

null

50+

AI & ML
Engineers

null

40+

AI & ML
Projects for
reputed Clients

Awarded as Winner among 1000 contestants at TechSHack Hackathon

Related Success Stories

Related Insights

Free Consulting