There are two important models that are adopted nowadays in the pharmaceutical Industry more specifically in the Analytics: Prescription-based sales forecasting model and patient-based sales forecasting model. These models are utilized in sales forecasting and improving decisions. Pharmanalytics is a consulting company that specializes in these models for the clients in the lifesciences Industry.

Prescription-based sales forecasting model
“part-art, part-science” as described by Pharmanalytics is the prescription-based forecasting. This model connects the past to the present market situations and supports users in establishing forecasting baselines for better decisions. This is done through careful selection of appropriate analogues. This improvises the marketing decisions helping them to comprehend the linkage between past and the present.

Patient-based sales forecasting model
The sales forecasting can be performed by patient-based model that allows users to capture the sales and potential of various markets based on different therapeutic agents. Here the segmentation is done on specific disease areas. The model is useful to analyze inwardly of few details that prescription-based model cannot provide.