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The data is in the system! Yes, that's right. Whatever you want to know about your business, your customers' spending patterns, your stock level, you

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

r financial performance, your customers' profile, and many other questions you want answered.

Citibank, in an article published in 6 Dec 2005 of Sin

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

apore Digital Life, reveals that they use the data in their system to identify customers who fit their assumptions of the potential customer base l

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ike age, salary and spending behaviour.

Business Intelligence is not confined to BIG companies. A specialised system normally can cost tens and hund

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

eds of thousands. But there are always alternative and the solution is right in your computer. Excel is a powerful BI tool that is commonly used in E

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

rope and US. The question is: Do you know how?

Using Excel, a travel agency was able to profile their customers using the data they have diligently

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

captured into Gilboa, a travel management system. They were able to identify their niche and to allocate the optimal amount of resources to grow thei

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

customer base. And they spent only a fraction of the cost big companies are paying because they use tools they already owned, that is, Microsoft Exc

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

l.

For big companies, an expensive system does not necessary mean they are able to get the data they want. From system design to implementation will

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

take at least 6 month and as long as 2 years. By the time the system is launched, the business environment would have changed and the information th

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

y need to capture has already changed. Therefore, a lot of people resort to using Excel to present the information they need to their bosses. And wit

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

out good Excel Skills, it is going to be a painful process for them.

You can make use of readily available worksheet functions to transform those ra

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

w data from the system, present them as useful business information used for making critical business decision and planning. For those working in

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ig corporations, you do not have to rely on your IT department to generate the reports for you. You will learn how to analyse those data using readil

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

available function provided by Excel.

For SME, you do not need a powerful BI system to get what the big companies are getting. Using Excel, you can

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

make the data become valuable to your business without the need to purchase any software. All you need is to make Excel comes in power and you will

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

e able to gain insights into your business like never before.

A combination of Excel and MsQuery provide the most direct way to tap into databases a

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

d retrieve those information real-time so that you could prepare your report with ease. I used to use Excel to tap into our accounting database serve

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

r directly and create my financial statements. When it is set up, I just need to open the file and the statements will be refreshed without me having

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

to do anything. It makes closing the account a breeze for me.

Is the evidence strong enough for you to use Excel as a tool for business intelligence

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Indian college graduates have a lot of potential to become great workforce; however, they need some training when jobs require them to speak and write in English competently.

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