North America Survey Reveals Better Customer Data Essential to Digital Transformation

Access to quality customer reference data is more important than ever as the life sciences industry shifts to digital engagement, according to new research from Veeva Systems (NYSE: VEEV). Findings from the Veeva 2020 North America Customer Reference Data Survey Report reveal that 88% of reps are now using digital channels such as email and video calls to connect with healthcare professionals (HCPs). With digital transformation initiatives well underway, accurate customer reference data is especially critical in reaching the right HCPs.

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Access to quality customer data is more important than ever as the industry shifts to digital engagement, according to new the Veeva 2020 North America Customer Reference Data Survey Report.

Consistent with the growing importance of quality data, 88% say ensuring more accurate customer data is their top priority. Visibility into relationships between HCPs and healthcare organizations (HCOs) is seen as one of the most important data quality attributes, with 57% listing it among their main areas of focus. In fact, visibility into these relationships was identified as one of the least mature area across organizations, with only 19% reporting complete visibility into HCPs and their affiliates.

“COVID-19 has magnified the importance of accurate customer data as the industry moves fast to implement new digital engagement strategies,” said Rebecca Silver, general manager of Veeva OpenData. “Access to quality data is critical to better visibility into HCPs and their affiliates and supporting the rapid adoption of new digital channels.”

Quality Data Critical to Success, Prompting Data Transformation Initiatives

Nearly all (97%) respondents say quality customer reference data is key for field force effectiveness and strategic business planning. Customer data is also important for CRM adoption (92%), yet access to quality data is having a significant impact on the field user experience with CRM, including rep compliance and productivity.

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The need for quality data is prompting organizations to launch data quality initiatives to make better business decisions and advance commercial operations. Over the next year, 46% plan to invest in new sources of customer reference data. Data accuracy is a major focus, with 35% planning to outsource or invest in more data stewardship services to improve the quality of their data.

Data Stewardship Important for Fast, Accurate Data

Up-to-date data is critical for HCP engagement and sales execution. Data stewards keep information such as physician addresses and specialty areas continually updated, validating data change requests (DCRs) with speed so field reps can focus on building trusted relationships with customers.

But DCR processes remain slow for the majority of respondents, with 49% saying it takes up to five days to resolve data changes and 27% citing 6-10 business days. The need for stronger data stewardship is likely driving urgency to improve data accuracy so field teams have confidence they are working from the right data to engage the right customers and opportunities in real-time.

In other news today, Veeva also announced the findings of the Veeva 2020 European Customer Data Survey showing that quality customer reference data is critical to making the shift to digital engagement in Europe. Read today’s press release to learn more.

The Veeva 2020 North American Customer Data Survey examines the current state of customer reference data within life sciences companies across North America. The findings represent the experiences and opinions of more than 234 life sciences professionals focused on customer data