Challenge
Market Analytics leaders in a global Big Pharma’s European affiliates were concerned that their preparing of a high number of forecast scenarios was not helping decision making
To address this they wanted to assess probabilistic forecasting as an approach to improve decision-making efficiency
Solution
Created and ran a one-day workshop with Analytics teams from five affiliates to explain probabilistic forecasting and to introduce a model for developing their forecasts
Followed up with intensive one-day sessions with each affiliate to build capabilities and train Analytics teams to integrate the approach into their decision-making processes
Gained perspectives, prepared relevant materials, and built adoption and commitment from senior leaders
Result
- Integrated and embedded probabilistic forecasting into the affiliates’ analytical and decision-making processes
- More efficient decision-making and more informed discussions on company and product strategies
