TEANECK, N.J., Sept. 13, 2012 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced that it has been positioned as a Leader in the IDC Health Insights "IDC MarketScape: Worldwide Pharmaceuticals Social Media Analytics 2012 Vendor Assessment" (document number HI236520, dated August 2012).
The IDC MarketScape report evaluated the social media analytics offerings capabilities of leading social media analytics software and services providers to the pharmaceutical industry. The evaluation was based on a comprehensive framework, and assessed services providers across key characteristics, including functionality or capability, delivery model, cost management strategy, portfolio strategy, customer base, referencability, pricing model, sales/distribution strategy, customer service strategy, marketing strategy, growth strategy, financial and funding model, employee strategy, and innovation/R&D pace and productivity.
"Cognizant is highly focused on the pharmaceutical industry and is considered by its customers to have very high pharmaceutical industry expertise," the report stated.
Eric Newmark, Program Director of IDC Health Insights' Life Science Business Systems service, said, "Many pharmaceutical companies are ramping up their investment in social media analytics as a large majority of consumers now go online to research their medical condition and treatment alternatives. The information they find, combined with their physicians' opinion, is often the largest influencing factor on the prescription or treatment sought. Hence companies should understand what consumers are finding online and closely monitor its effect on their brand."
He added, "Pharmaceutical companies are seeking new ways to measure brand perception, keep tabs on end-consumer sentiment around products and therapeutic categories, and gain insight into competing brand strategy, pricing, promotions, and other relevant competitive information. Pharmaceutical companies are looking for vendors with industry-specific expertise, strong customer references, and proven experience delivering measured value to the industry."
"We are pleased with Cognizant's positioning as a Leader by IDC Health Insights," said Krish Venkat, Executive Vice President of Cognizant's Healthcare and Life Sciences practice. "Pharmaceutical organizations are increasingly looking to cast a wide net for social media data collection and analysis, which can then be focused on specific clinical, attitudinal, geographic or financial analyses. In leveraging social media to obtain and translate insights around patient and physician preferences and behaviors into informed decision-making and cost-efficient ways of operating, pharmaceutical organizations can reinforce brand recognition, and maximize returns on investments in newer, more coherent ways."
"Our designation as a Leader underscores our capabilities in helping pharmaceutical organizations benefit from social media analytics to drive improved agility, collaboration, customer satisfaction, process innovation, productivity, and profitability," said Mahesh Venkateswaran, Managing Director, Social, Mobile, Analytics and Cloud at Cognizant. "This report is a testament to our deep industry and analytics knowledge, extensive expertise of search and extract tools for mining both structured and unstructured social data, and proven experience delivering measured value to pharmaceutical organizations to help them correlate information across multiple channels."
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 50 delivery centers worldwide and approximately 145,200 employees as of June 30, 2012, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.