As the life sciences market grows more complex, commercial teams must rethink go-to-market strategies to keep pace with new medicines and shifting stakeholder needs, according to Peter Stark, president of Compass and executive vice president of Data Cloud at Veeva. Stark said the industry’s success depends on better understanding health care providers (HCPs), evolving distribution channels, and ensuring the right data foundation to guide analytics and AI. Biopharmas rely on projected data to understand the market and build forecasts - but legacy data models are struggling to keep up with changing market dynamics, causing inconsistencies that hinder commercial teams. Without accurate inputs, he warned, companies risk flawed forecasts that can cascade into poor promotional planning and misallocated resources.
Stark emphasized three pillars of a modern data strategy:
- Complete visibility across retail and non-retail channels
- Consistency that ties national and subnational data together
- Unlimited access to information so teams can explore deeper insights.
Ultimately, he said, it comes down to one principle: the quality of data. “It's not just a question of getting new data, it's ensuring that the data that you have is giving you that completeness and that full visibility," Stark said. That is what gives pharma companies the ability to allocate commercial resources accurately and effectively to operate with better precision. Watch the full interview to hear more about how data quality is shaping commercialization in life sciences.