The life sciences industry is evolving quite a bit with more and more companies focussing on the research and commercialization of specialty drugs. These new product launches at times are in relatively newer areas and always brings in too many uncertainties with them. Despite of thorough market research using epidemiology techniques and availability of sophisticated forecasting tools/methodologies, it is often difficult to predict how a newer product is going to do in any particular market.
Aurochs Software launches its Quota Setting solution- a self-service module that helps pharmaceutical companies to efficiently set sales targets for their sales force.
Every incentive cycle, sales leadership and the operations teams face a difficult job of setting fair but challenging quotas. As a company, you want your sales team to meet their quotas but also push the envelope to achieve growth. Quotas play a big role in motivating sales reps to achieve broader strategic business objectives.
A quick and dirty quota setting model setup on an IPython notebook using pandas and numpy. 6 different pharma quota setting methods explored