BOSTON, June 22, 2017 /PRNewswire/ -- inVentiv Health Communications, a purpose-built collective of agencies focused on supporting health and biopharmaceutical innovators, and Concentric, Inc., a software company, today announced an exclusive partnership to license a simulator technology that helps better develop marketing strategies and forecast outcomes. Under the agreement, inVentiv Health is the exclusive Concentric partner for the pharmaceutical, healthcare device and patient care/wellness sectors.
As consumers evolve and markets shift with unprecedented speed and fluidity, Concentric's simulation tool, Concentric Market®, allows CMOs and their teams to understand and adapt to these emerging changes. The exclusive inVentiv Health Communications and Concentric partnership now gives healthcare marketers access to the first predictive engine of its kind to drive smarter, agile planning that ensures marketing budget optimization.
"At inVentiv Health Communications, we continue to make resource and technology investments in highly differentiated data services," said Patrick Richard, Managing Director of Data Science at inVentiv Health Communications. "Combining our deep-rooted healthcare data analysis expertise with Concentric's technology allows us to predict better marketing outcomes to change the game for biopharmaceutical innovators."
Combining Concentric Market's collaborative, strategic planning and forecasting simulation platform with inVentiv Health Communications' unparalleled data expertise – including detailed competitive landscape promotional data, behavioral science research, expansive clinical data sets and pipeline analysis – revolutionizes the traditional pharmaceutical marketing approach. Now, by using agile iterative techniques prior to any campaign launch or individual tactic creation, marketers can experiment with channels and messages without spending money on in-market pilots to evaluate optimal outcomes.
"Together we have a one-of-a-kind offer that integrates domain knowledge, unmatched data and advanced analytic capabilities to help health and biopharmaceutical companies improve their marketing," said Greg Silverman, CEO and founder of Concentric. "We are thrilled to have inVentiv Health's commitment to this partnership."
Data is critical to driving healthcare marketing innovation. The partnership between inVentiv Health Communications and Concentric helps pharmaceutical companies predict response, uncover the right opportunities and fuel continuous improvement through actionable analytics. With the Concentric Market platform, inVentiv Health Communications teams are pioneering a new era of accountable marketing to help clients understand the return on new investments and target spending toward the highest-impact opportunities.
Patrick Richard presented on this topic at eyeforpharma Philadelphia on April 21, 2017, in a session called "Freedom to Fail: Using predictive analytics to simulate, experiment with and optimize your approach to marketing." Two recent reports from inVentiv Health Communications – Data-Driven Expectations and Freedom to Fail – are available for free download at inVentivHealthCommunications.com.
About inVentiv Health Communications
inVentiv Health Communications is a purpose-built collective of agencies focused on supporting health and biopharmaceutical innovators. We work in scalable, collaborative teams that partner across disciplines and geographies to deliver integrated communications strategies that accelerate brand performance. In today's fast-changing and complex environment, success lies in making connections: between science, emotion and technology; between data, design and human insight. We're able to make those connections because our advertising, public relations, medical communications, digital, data science, research and market access specialists have the ability to tap the expertise of clinical and commercial colleagues worldwide to infuse programs with deep therapeutic and analytic insights.
inVentiv Health Communications is powered by inVentiv Health, a 15,000-employee global professional services organization designed to help the biopharmaceutical industry shorten the distance from lab to life. For more information, visit inVentivHealth.com.
About Concentric, Inc.
Concentric software empowers CMOs and their team with the clarifying insights needed to make better decisions. Our leading simulation-based platform eliminates the uncertainty that is inherent in the marketplace and provides a roadmap to accurately forecast consumer behaviors and analyze competitive markets. Concentric gives CMOs confidence when determining when to invest in, adjust or reallocate marketing expenditures to maximize their return on investment. Founded in 2010, Concentric is located in Cambridge, Mass. For more information, visit ConcentricMarket.com.
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SOURCE inVentiv Health Communications