Veeva Systems Inc. VEEV recently announced the availability of master data management reporting for business clients in Veeva Network, at the 2015 Prescription Drug Marketing Association (PDMA) Sharing Conference.
Master data management (MDM) is a wide-ranging technique used to allow an enterprise to connect all of its important data to one file, called a master file, which provides a common point of reference. Veeva Network Reporting assists commercial teams to control the quality of master data in important areas like sales planning, new product launches and stewardship operations.
Conventionally, business users rely on IT in order to access reports. The whole process of data extraction and generating reports via analytics tool is a time consuming affair. Veeva Network Reporting obliterates such difficulties and allows a business user to access master data, without IT help. The new reporting functionality will also help business clients optimize data while data stewards will be able to enhance the quality of data.
We feel that MDM reporting will help Veeva Network gain better traction. This, in turn, will enhance the company’s customer data business and also open up significant growth opportunities.
Veeva, as it seems, is focused on rapidly expanding its data business. Last month, the company extended its partnership with HighPoint Solutions to expand the availability of Veeva Network to life sciences companies like Allergan, Bayer, GSK, Johnson & Johnson, Novartis, Pfizer, Shire, Teva, Vertex and Zoetis.
Meanwhile, in March this year, the company launched Veeva OpenKey – which provides customer data to all healthcare professionals (HCP), healthcare organizations (HCO), and affiliations across major life sciences markets.
In Dec 2014, Veeva had opened two European data centers in Germany and the U.K. which are expected to support European and global customers’ needs for all of the company’s cloud-based solutions such as Veeva CRM, Veeva Network and Veeva Vault.
Zacks Rank and Key Picks
Currently, Veeva carries a Zacks Rank #2 (Buy). Other well placed stocks in the medical sector are Masimo MASI, Thoratec THOR and NuVasive NUVA. All the stocks sport a Zacks Rank #1 (Strong Buy).
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