ListenLogic Co-Founder and Chief Strategy Officer Mark Langsfeld recently presented ListenLogic’s advanced social business intelligence solutions at The Pharma Market Research Conference. During his marquee session to myriad of pharamaceutical market researchers and brand managers, he reviewed how big data processing solutions are facilitating deeper, strategic understanding of markets, products, patients, caregivers, health care professionals and competitors by major pharmaceutical and health care companies.
Today nearly 170 million US consumers research their prescriptions online and, according to PwC Health, 90% of 18 to 24 year olds trust medical information they receive on social networks and 80% of this segment share their own health experiences online. As an increasing number of individuals look online and rely on social media to be part of their health decision-making process, health care and pharmaceutical companies are realizing they need to strategically listen and understand the insight this social intelligence provides.
Big Data’s Impact
During his session, Mark provided attendees with a deeper understanding of how advanced streaming big data technology is now delivering enhanced big data management and structure of the social and online conversations being shared by millions and millions of patients, caregivers and health care professionals on a daily basis.
“Having the ability to ask complex questions of the hundreds of millions of daily comments is revolutionizing how health care and pharmaceutical companies understand deep topics like the unmet needs of patients, the decision-making process of caregivers and the overall journey a patient goes through,” he explained.
He also illustrated how ListenLogic Health is pioneering major advancements in this space by providing this sort of insight to 15 of the Top 20 pharmaceutical companies across a wide array of therapeutic areas like diabetes, HIV, oncology, endocrinology, cardiovascular, allergy and asthma, infectious diseases, cosmetics and medical devices. “Our technology and expertise is helping the pharmaceutical industry understand products, markets, patients and competitors like never before, which is driving their strategic decision-making,” he said.
Deeper Consumer Understanding
In the clip below he reviews the in-depth patient personas ListenLogic Health assembles with its advanced social intelligence technology. Pharamaceutical companies are using this sophisticated intelligence extracted from big social data to understand the patients and care-givers on a deeper level, identify unknown and emerging market segments, and guide the overall strategies for their brands. Beyond the pharmaceuticals, companies across a myriad of industries are using this type of deep consumer inspection to identify, understand and consumers more effectively.