Method and system for rapidly projecting and forecasting pharmaceutical market information
View Patent ↗A system and method for providing a monthly cumulative prediction of pharmaceutical sales of a particular pharmaceutical, or group of pharmaceuticals, in a current month is disclosed. In particular, the technique of the present invention provides for extrapolating a sample of sales data for a given day across that entire day ( 114 ), extrapolating sales data for at least 14 prior days across an entire month ( 116 ); adjusting the monthly cumulative prediction by comparing past predicted values with past actual values ( 118 ); adjusting the monthly cumulative prediction to account for sales anomalies created by national or local holidays ( 120 ); and provides confidence intervals indicating the believed accuracy of the current monthly cumulative prediction ( 122 ).
1. A method for forecasting the cumulative sales total of one or more pharmaceuticals, from one or more wholesalers to one or more retail outlets, for a current predetermined time period, the method comprising:
receiving daily pharmaceutical sales data from a sample of said one or more wholesalers, wherein said one or more wholesalers are in a pre-defined geographic market;
receiving actual pharmaceutical sales data for past predetermined time periods for said pre-defined geographic market; and
providing, using a processor unit, a predicted cumulative sales total for said current predetermined time period, using said daily pharmaceutical sales data, said actual pharmaceutical sales data, and past forecast sales data, wherein providing said predicted cumulative sales total comprises:
providing a preliminary predicted cumulative sales total for said current predetermined time period using said daily pharmaceutical sales data; and
adjusting said preliminary predicted cumulative sales total for said current period based on a difference between said past forecast sales data and said actual pharmaceutical sales data to provide said predicted cumulative sales total for said current predetermined time period,
wherein adjusting said preliminary predicted cumulative sales total for said current period comprises generating a feedback factor based on a comparison between said past forecast sales data and said actual pharmaceutical sales data, and multiplying said preliminary predicted cumulative sales data by said feedback factor.
2. The method of claim 1 , wherein said one or more pharmaceuticals comprises a single pharmaceutical product.
3. The method of claim 1 , wherein said one or more pharmaceuticals comprises a group of pharmaceutical products.
4. The method of claim 1 , wherein said current predetermined time comprises one month.
5. The method of claim 1 , wherein said past predetermined time periods comprise three months.
6. The method of claim 1 further comprising providing a cumulative daily prediction for a pharmaceutical for specific day, after receiving said daily pharmaceutical sales data, based upon said daily pharmaceutical sales data and a market share of each of said one or more wholesalers that provided said daily pharmaceutical sales data.
7. The method of claim 6 further comprising providing said preliminary predicted cumulative sales total, after receiving said cumulative daily prediction, by using at least 14 days of past cumulative daily predictions.
8. The method of claim 1 further comprising providing an adjustment to said predicted cumulative sales total to account for a holiday which occurs in said current predetermined time period.
9. The method of claim 1 , further comprising providing confidence intervals for indicating accuracy of said predicted cumulative sales total, after receiving said predicted cumulative sales total.
10. The method of claim 1 further comprising reporting said predicted cumulative sales total to one or more pharmaceutical manufacturers, said one or more pharmaceutical manufacturers using said predicted cumulative sales total for short term corrective sales action.
11. A non-transitory computer storage medium encoded with a computer program, the program comprising instructions that when executed by one or more computers cause the one or more computers to perform operations comprising:
receiving daily pharmaceutical sales data from a sample of said one or more wholesalers, wherein said one or more wholesalers are in a pre-defined geographic market;
receiving actual pharmaceutical sales data for past predetermined time periods for said pre-defined geographic market; and
providing a predicted cumulative sales total for said current predetermined time period, using said daily pharmaceutical sales data, said actual pharmaceutical sales data, and past forecast sales data, wherein providing said predicted cumulative sales total comprises:
providing a preliminary predicted cumulative sales total for said current predetermined time period using said daily pharmaceutical sales data; and
adjusting said preliminary predicted cumulative sales total for said current period based on a difference between said past forecast sales data and said actual pharmaceutical sales data to provide said predicted cumulative sales total for said current predetermined time period,
wherein adjusting said preliminary predicted cumulative sales total for said current period comprises generating a feedback factor based on a comparison between said past forecast sales data and said actual pharmaceutical sales data, and multiplying said preliminary predicted cumulative sales data by said feedback factor.
12. The non-transitory computer storage medium of claim 11 , wherein said one or more pharmaceuticals comprises a single pharmaceutical product.
13. The non-transitory computer storage medium of claim 11 , wherein said one or more pharmaceuticals comprises a group of pharmaceutical products.
14. The non-transitory computer storage medium of claim 11 , wherein said current predetermined time comprises one month.
15. The non-transitory computer storage medium of claim 11 , wherein said past predetermined time periods comprise three months.
16. The non-transitory computer storage medium of claim 11 , wherein the program further comprises instructions that when executed by one or more computers cause the one or more computers to perform operations comprising:
providing a cumulative daily prediction for a pharmaceutical for specific day, after receiving said daily pharmaceutical sales data, based upon said daily pharmaceutical sales data and a market share of each of said one or more wholesalers that provided said daily pharmaceutical sales data.
17. The non-transitory computer storage medium of claim 16 , wherein the program further comprises instructions that when executed by one or more computers cause the one or more computers to perform operations comprising:
providing said preliminary predicted cumulative sales total, after receiving said cumulative daily prediction, by using at least 14 days of past cumulative daily predictions.
18. The non-transitory computer storage medium of claim 11 , wherein the program further comprises instructions that when executed by one or more computers cause the one or more computers to perform operations comprising:
providing an adjustment to said predicted cumulative sales total to account for a holiday which occurs in said current predetermined time period.
19. The non-transitory computer storage medium of claim 11 , wherein the program further comprises instructions that when executed by one or more computers cause the one or more computers to perform operations comprising:
providing confidence intervals for indicating accuracy of said predicted cumulative sales total, after receiving said predicted cumulative sales total.
20. The non-transitory computer storage medium of claim 11 , wherein the program further comprises instructions that when executed by one or more computers cause the one or more computers to perform operations comprising:
reporting said predicted cumulative sales total to one or more pharmaceutical manufacturers, said one or more pharmaceutical manufacturers using said predicted cumulative sales total for short term corrective sales action.