VIDEO | Focus On Delivering Something Meaningful for the Business - McKesson Head of Decision Intelligence for US Pharma

(US and Canada) Yazhene Krishnaraj, McKesson’s Head of Decision Intelligence for US Pharmaceutical, speaks with Susan Wilson, Group VP Americas Solution Leader at Informatica, in a video interview about assessing the value of analytics, the importance of executive buy-in, stakeholder communication, agile techniques for project completion, and the value of collaboration.

At the onset, Krishnaraj explains that it is essential to create a framework to determine what analytics provides the most value. She reveals that McKesson utilizes a system to assess the value in three primary areas: hard benefits, soft benefits, and mandatory (regulatory) requirements. The three categories determine the value realization of a project.

Hard benefits focus on reducing costs and increasing revenue, while soft benefits include improved customer satisfaction, increased employee engagement, and a strengthened brand reputation. The mandatory activities include compliance with regulations, even though they may not yield direct financial benefits.

According to Krishnaraj, business strategy should be the starting point for most decisions. She asserts that organizations must acknowledge the value that analytics and digital initiatives can bring. She maintains that simply creating something perceived as cool should not be the primary goal. Additionally, she underscores that ensuring that data is used to deliver something meaningful for the business should be the main focus.

Moving forward, Krishnaraj states that sometimes the value chain begins with the digital and data office since they understand the data they can work with and propose recommendations. As an example, the digital and data office might identify data that can be used to improve the business, present a business recommendation, and pilot the idea.

If it is successful, it becomes a priority in the business. Krishnaraj notes that although there is a mapping between the value chain starting point and business priorities, most begin with the business priority and some start from the Digital and Data Office.

Furthermore, Krishnaraj emphasizes the importance of effective communication at multiple levels to ensure successful project completion. She outlines the need to pursue executive buy-in on prioritized projects first, and then manage expectations with stakeholders and end-users.

Krishnaraj recommends using agile techniques to commit to goals while business needs change. It is also critical to communicate with the end-user consuming the analytics and allow them into executive team meetings to articulate the value. This communication serves to motivate the team to deliver value.

As an example of this approach, she reveals that it helped in spotting an outlier through a dashboard, allowing the team to identify and correct an error. The project, though incomplete, provided value, and the leadership team was pleased with the development. Such a story reinforces the value of collaboration and team effort to reach successful conclusions.

CDO Magazine appreciates Yazhene Krishnaraj for sharing insights with our global community.