Life Science Social Media Analytics: Genpact is Named a Leader According to IDC MarketScape Report
Best-in-class capabilities, business insights, overall value, customer support, and account management are key reasons for positioning
NEW YORK, April 9, 2015 - Genpact (NYSE: G), a global leader in designing, transforming, and running intelligent business operations, has been named a "Leader" in the IDC MarketScape: Worldwide Life Science Social Media Analytics 2014 Vendor Assessment (doc #HI252646, December 2014). The IDC MarketScape also named Genpact a "Leader" in 2012.
According to the IDC MarketScape, Genpact is considered by its clients to deliver its best-in-class social media analytics capabilities, business insights, and overall value, further complemented by its strong focus on customer support and account management. The report also stated that Genpact has been providing social media analytics services to its well-established life sciences client base, which includes a wide range of small, medium and large pharmaceutical companies, since 2004.
Life sciences companies have lagged behind retailers and consumer products manufacturers in harnessing the power of social media-based data, primarily due to regulatory constraints. However, they are increasingly turning to these insights to gain insights into consumer/patient sentiment about their overall categories and their specific products, obtain competitive intelligence, and improve their brand perception and market share.
Life sciences companies are also leveraging social media signals to "sense" the external environment and adjust their activities accordingly, such as updating their revenue forecasts and altering their marketing plans when the buzz points to delayed FDA approval for a competitor's product. Given the complexity of analyzing massive volumes of social media data for useful, actionable insights, many enterprises require external skills and capacity to achieve their objectives.
For example, a top 10 pharmaceutical firm wanted to understand the competitive landscape and stakeholder opinions of a leading over-the-counter drug. It also wanted to measure the effectiveness of its marketing efforts. Genpact developed a quarterly social media tracker that provided the client with an ongoing source of reliable, unsolicited feedback. The tracker also enabled the client to compare previous quarters, and measure change in the direction of social media conversations and the effectiveness of its brand communication efforts.
In another example, Genpact's Smart Decision Lab for Analytics Services built a media portal to arm a global biopharmaceutical company's research team with social media-based data in numerous therapeutic areas. After Genpact cleansed and analyzed the data, the client's researchers had the insights required to make better decisions on trends, potential pitfalls, and opportunities. Genpact's Smart Decision Lab for Analytics Services facilitates collaboration and innovation with clients and industry experts. By leveraging data, analytics, technology, and its process expertise, Genpact helps clients make smarter, data-driven decisions.
According to Paul Burton, Genpact's senior vice president and business leader, Analytics and Research, "Social media is an important component of the new, disruptive SMAC (social, mobile, analytics, and cloud) technologies, and we are delighted to be considered a leader in the space for the life sciences industry, which is a bellwether of the evolution of many large global companies. We attribute our top position to our unique data-to-action approach, which enables us to reimagine our clients' operations through the help of analytics, and embed the analytics process into the fabric of our clients' workings."
Conventional, technology-driven analytics lead to merely incremental gains. The analytical insights that shape Genpact's Intelligent OperationsSM approach are developed with the firm's Intelligent Process Insights EngineSM using its Systems of Engagement™ solutions, which applies industry, domain, and process expertise to pull together only the relevant data for purpose-built analytics applications to meet critical business needs.
Genpact's social media analytics practice is comprised of more than 200 social media analysts, solutions architects and industry experts. Teamed with algorithmic scientists, big data specialists and data modelers, they continuously develop and implement targeted solutions to address the client's business goals. Genpact has 11 life sciences manufacturers as social media analytics clients, including nine of the top 10 pharmaceutical companies. The company's life sciences social media analytics offerings include social media services, marketing analytics, managed market analytics, forecasting services, competitive intelligence, healthcare clinical analytics, customer experience management, and business analytics and reporting.
Interested parties may access the report at http://www.genpact.com/docs/default-source/pr/idc-marketscape-worldwide-life-science-social-media-analytics-2014-vendor-assessment. More information about Genpact's social media analytics services is available at: genpact.com/home/solutions/analytics-research/social-media-research.
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
Genpact (NYSE: G) stands for "generating business impact." We design, transform, and run intelligent business operations including those that are complex and specific to a set of chosen industries. The result is advanced operating models that make our clients more competitive as they help them grow and manage cost, risk, and compliance across a range of functions such as finance and procurement, financial services account servicing, claims management, regulatory affairs, and industrial asset optimization. Our Smart Enterprise Processes (SEPSM) proprietary framework helps companies reimagine how they operate by integrating effective Systems of Engagement™, core IT, and Data-to-Action AnalyticsSM. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have grown to over 67,000 people in 25 countries, with key management and a corporate office in New York City. Our global critical mass doesn't dilute our flexible and collaborative approach, and our management team still drives client partnerships personally. We generate impact quickly because of our business domain expertise and experience running complex operations, driving our focus on what works and making transformation sustainable. Clients attribute much of our success to our unique history: behind our passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 16 years. For additional information, visit Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
For more information:Gail Marold (Genpact Media Relations)
Dan Wilson (For Genpact U.S.)
Quintin Keanie (For Genpact Europe)
+44 (0)207 309 1053