IQVIA Holdings Inc. (IQV) Earnings Call Transcript & Summary

Welcome, and hello, everybody. Thank you so much for joining us today. Our webinar titled A Fresh Approach to Driving Adoption of Life Science Business Intelligence Tool has just get started. And we would like to bring you an outstanding perspective, right, from how to drive adoption. My name is Antonello. I'm Client Technology Partner. And together with me today, we also have Pooja and Will, who are, respectively, Product Marketing Director and Product Associate Director. Just moving on and talking about what we have planned for today, we want to get started with the challenges, right, that we have from a BI perspective, with a deep dive into what are the pain points for life science and pharma. Again, talking about BI and how we believe, right, is needed to address these pain points to drive adoption. So we are going to do it from a market perspective, from a specific industry perspective, but we also want to hear from you. So there will be some polling questions to get your feedback and analyze your real-time answers. After this introduction, Pooja will drive you into the IQVIA Personalization Hub, which is basically our application that we are going to describe today and also telling you how this can support your adoption within your organization and company. Finally, Will, will go through and walk you through the demo and also specifying what are some key takeaways that are really, really important within our webinar today. We will finalize everything with a Q&A session. So any time, feel free to submit your questions that could be answered at the end of the webinar. Of course, we are going to -- we'll try to address all the questions. But just in case we are not going to have enough time, there will be a follow-up for anyone. And also, let me mention, right, that if you have any technical issue, there is a button with a question mark, a yellow one that you can press to get some assistance. And also, there is a possibility to do a survey. So we really appreciate if you can spend some more time at the end, right, doing us and giving us some feedback. Setting up this, I would say that we can get started, and we would like to do it really asking you a couple of questions. So the first one is if you have BI dashboard tools, how often do you look at that? We want to hear how much, right, you are using it. Is it every day? Is it weekly or is it a few times a month, less than once a month or I don't use BI tools. So let us know. I give you a few seconds to provide your feedback, your answer, and then we can analyze this together. [Voting]

Good. Let's see, wow, less than once a month, right? And this is actually telling us a lot and it's basically saying that we are not using that much even though, right, we should actually get insight from the data. So let's go to the second one. How would you describe your experience right now with viewing BI dashboard? Is it very satisfactory, satisfactory? Is it neutral? Is it unsatisfactory or very unsatisfactory? So again, I give you a few seconds to provide us feedback, and then we can analyze these together. [Voting]

Good. Let's see the result. And again, okay, it's pretty good. So actually, people are -- they are not using that much, but they are satisfied. However, we are here today, right, to understand how to increase this, right? And so let's start maybe understanding what's the market view, right? And for example, there are several market research that are telling us that more than 30% of the employees would like to use -- find other way to derive information, which means at the end that most of the data remains unanalyzed. And as a result, more than 90% of the companies believe that they can be much better to become a data-driven decision company. Now why this is happening? Of course, there is a lot of BI tool governance, right? And this is happening also because the content is silo-ed, and we often provide only lagging indicators and not leading indicators. But to me, what is more interesting to be analyzed is that there are multiple applications, there are multiple channels and in the end, the end users get confused. So this is what we heard from the market research, and it is basically pretty aligned to what we are hearing from you every day, right? We at IQVIA engage on a daily basis with field representative, with sales rep, with MSL, with key account manager, but also with back office, right, brand and marketing manager, data scientists, analysts. And the feedback is pretty aligned when we ask them, right, what are your pain points? And basically, they would like to get insight-driven information, right? They believe that there are too many KPIs, and nothing is pretty specific to what they need to do. They would like to have a single point of access and also get information in a simplified process, right, maybe not only pushing but also pulling information. They believe there are too many metrics and nothing specific for the role is assigned around the personas. So if you think about that, right, the next question will be how we can address this pain point. How can we make them more aligned and more happy with the job that they are doing and use data to derive the insight? So here comes the next question that I have for you, right? What would help you better adopt insight from BI tools? What will drive adoption? Is it a matter of personalization, right? So is it receiving insight into my daily workflow to like a maze? So this is more channel. It's the way we deliver the information, right? Or having one place to view all my insight instead of navigating to different BI application. That means that it's more on having one single point of true, one single point of access to get the insight and information instead of having multiple. Having flexibility to choose what insight they see, so it's more about personalization or again. It's more on customer experience. So reducing the step of applying multiple fitters to tailor the insights to what they need. Is it something specific? Or is it in combination? So there is maybe more than one or all of the above or there is something else, right? You can also take none of the above. So again, I can give you a bit more time to reply to this to let you go through it. And then we can analyze the results together. [Voting]

Good. Okay. Maybe there is some technical issue. We can't see the result. Let me try again. No. There is some problem. By the way, from my point of view, right, it's a mix of combination, right? There are several factors. And this is why we are here today, actually, right? What if I tell you that we can move from one-size-fits-all experience to a personalized one? What if I tell you that we can pull the insight and not only pushing and doing it into their preferred delivery channel, specifically for each and every user? What if we tell you that we can produce adaptive content and also stimulate a proactive discovery instead of a static one, right, and only a reactive discovery? So -- and what if I tell you that we can do all those things, connecting the technology, bringing something on top without any disruption and without replacing your current technology? So basically, a lightweight application on top of what you already have to bring and drive adoption. So this is exactly what we want to show you today. And without losing more time, let's jump right in. Pooja, the floor is yours.

Thank you so much, Antonello. And indeed, the industry is in need of a major change to drive adoption and ROI. But before getting into introducing our offering, which addresses the challenges that Antonello just talked about, we're going to do another poll question. And apologies for the technical difficulties. We'll try to give this one a little bit more time. So the poll question is, which tool do you spend most time working with in your day-to-day work? So is this e-mail, a Teams channel or other similar applications, a CRM system, a BI application or anything else? So in this case, I'm going to give it just a little bit more time in case anybody is having any technical difficulties, and then we'll look at the results very shortly. Okay. I'm going to give another 15 seconds. Okay. I see that people are submitting answers. I will just give it a little bit more time. Maybe the polls are working a little bit better now. [Voting]

Okay. So I'm going to now see what the results are. Okay. So e-mail, Teams channel and also BI applications seem to be some of the more commonly used day-to-day workflow tools, which is really nice. And we'll come back to this as we introduce the Personalization Hub. So given all the industry users' challenges you've heard about, IQVIA's Personalization Hub is built to address those challenges in a new, innovative way. So our life science customers came to us asking for solutions to driving adoption of business intelligence, but they did not want to abandon any of the solutions that they already had invested heavily in. In addition, there were many specific requests around how to give users more flexibility to choose what they wanted to see, how often and in what way they wanted to see it, and how many insights they wanted to receive in a given time period while still operating within the guardrails of the organization. Meaning it is this delicate balance of push and pull that needed to be carefully executed. In addition, our customers are challenging us to think about how to use IQVIA's existing strengths along with AI to, in some ways, automate some of those manual repetitive configurations that users have to spend a lot of time doing to not only drive adoption, but also provide smarter, more relevant insights to boost performance and effectiveness. This is where we are very excited to present IQVIA's Personalization Hub, which delivers personalized, actionable business intelligence for commercial teams. Some high-level value propositions of this offering are the following: it's designed to increase user adoption by continually refreshing AI-driven dynamic insights and recommendations based on user's preferences and activities, much like consumer shopping sites, for example, that push new recommendations to you based on your browsing and purchase history. It focuses users on the highest value and most urgent actions and insights, meaning there is an ROI-driven component to this. It accelerates self services through the AI-driven user behavior learning so users spend less time configuring their tools. And there is minimal to no disruption to how users would use this and does not make any of your existing business intelligence investments go to waste. It's not required to change analytics platform. The Personalization Hub sits on top of your current analytics applications, providing a single point of access. And the poll question we had about what are your most common daily workflow tools, well, this is where we recognize the need to actually provide these insights into your daily workflow tools so you can act on them immediately and easily. It's super-intuitive. And as you can see from some example screenshots, you can access insights in your e-mail, Teams channel or via our Perl application, which will be demoed by my colleague Will later on. So how does it work? Essentially, the Personalization Hub is composed of 2 parts: decision intelligence and adoption accelerators. With decision intelligence, it's not simply about insights, but about how to make the insights actionable. We can work with our clients' needs to connect to various solutions that our clients have, be it in-house, third-party and/or IQVIA solutions from business intelligence to next best actions to modeling-based solutions to even other solutions like data exploration, all to generate one source of truth. So users do not have to navigate multiple applications to get to the insights they are looking for. We can also work with clients to standardize, for example, KPI definitions. So the insights users get are trustable and pulled without duplication from multiple apps into one place. And the magic of the Personalization Hub is that as users accept or dismiss insights or even choose to get additional insights, the system learns what is more relevant to the user and provide smart recommendations over time without the user having to go each time to find and select new insights recommendations and then configure them to what they want. In addition, it's not just the user's activity, but the system can also recommend things based on what your team considers really valuable. So you are also disseminating best practices to your team to optimize their performance. Adoption accelerators address the biggest barriers holding back adoption today. As mentioned before, users can adjust insights as they prefer to consume them via their daily workflow tools so it can result in more timely action. Simple links and insight bots enable users to access additional data and dashboards for critical contact to drive decision-making. So any user, no matter what their expertise level with these applications, can easily do things that may have been hard to do before or even time consuming to do before that would lead them to consider the insight more seriously. Again, the insight bot can be thought of as your sort of glass box of system. So you can get to the information you need, to trust the insight and see if it is relevant for you. Users can also leverage a portal application that provides a next-generation user experience. Users can also -- so basically, the highest level insights are surfaced. They're ROI-driven. And the insights in this application resemble the experience of applications that you're used to such as trading services, bank sites and fitness apps. I won't give too much away around this next-gen experience because Will is going to demo this shortly. But around this next-gen experience, let me provide you an overview of how we actually develop this by bringing an outside-in perspective from multiple industries. This is important because you will be able to relate to the experience and see how this can help with driving adoption in your organization. To drive adoption of business intelligence tools, we looked at best practices from industry to see how we can drive that personalized experience. We noticed a common denominator, if you will, amongst the different multi-industry solutions. Every app asked a user to input what we call explicit preferences. So this is details about you as a user and what your initial preferences and interests are. And based on your activity or what we call implicit preferences, you get a more personalized experience with tailored recommendations sent to you. This basically lays the foundation for users experiencing consistent value because they are continuously getting unique insights. This is one of the pain points we hear from users where the insights are not refreshed often enough, do not seem relevant to them or do not seem trustful until adoption drops rapidly. Now let's do a bit more of a deep dive into the specific aspects that we have taken from the industry to contribute to this next-generation experience. So again, how we have brought this to life for life sciences is by looking at particular best practices. For streaming services, what's interesting is how users feel really excited using a streaming service app like, for example, Netflix, because there can always be something new and refreshing that you find that, in particular, matches your interest. And some aspects of the user experience that streaming services are particularly good at, showing you high-value content first without having you to do extensive scrolling and a simple UX design. So after you use it once, you don't have to refamiliarize yourself with that over and over again. Fitness apps are an interesting reference. When you are looking for insights, they are displayed very simply despite all of the machine learning and AI that is working in the background. And the insight is preconfigured for you. You don't have to go and configure it. This is something that we, from IQVIA, realized we could do because we have deep industry knowledge that we can already present insights in a way that we know that will be meaningful to the customers. Fitness apps don't overwhelm you with numerous insights. It just shows you the most relevant insights so you can take an action quickly. And as you make changes and the app collects additional data, you can see how you are meeting your goals so it motivates you to want to use the app. And banking apps are another interesting example. It can be daunting for a user to navigate all kinds of financial planning information. But the banks have evolved to highlight recommendations that have kind of a next best action type of plan like how to target saving a certain amount every month. And they all typically have chatbots now to help users navigate multiple pages and offerings in easy way so it becomes much more like a stress-free experience. So why is IQVIA positioned to address BI tool adoption challenges, especially in life sciences? For one, we have a lot of program expertise. To deploy a solution like the Personalization Hub that needs to cater to multiple countries and brands, we can leverage our experience to develop the Personalization Hub with proper setup of explicit preferences and implicit preferences to drive scalable adoption. Second, we know that security and privacy are big factors to considering any kind of solution like this. We have extensive experience in this area, and we can ensure that mandatory business elements are seamlessly integrated alongside recommended content. So there's always alignment on priorities across stakeholders. The user 360 data integrates every aspect of users' activity and explicit preferences into a fully comprehensive profile of what works for them and what doesn't. And remember, IQVIA is in a unique position to provide user-centric behavioral insights based on our experience in hyper-personalized HCP omnichannel agent. Next is our curation engine. It's the engine that drives each user's personalized content so it is scalable across all types of roles, not just single representers. One key thing customers are looking for are scalable solutions. So when they are ready to scale further, they don't run into major roadblocks. And we have built the Personalization Hub so users can realize high economies of scale. And the breadth and depth of content that we have helps drive the delivery of frequent, fresh insights that is currently unparalleled in the industry. This is where IQVIA can leverage its strong data foundation to deliver on the personalized user experience. And lastly, we have our deep tech integration expertise. We have years of experience with other third-party tools such as Tableau and Power BI that we can apply standards to ensure one source of truth is presented to clients, thus, enhancing ROI of existing investments. So with that said, I will now pass it over to Will, who will take you through a demo. Please, as a reminder, make sure to enter your questions in the QA box as we will address them at the end, and please switch to the screen share to see the Personalization Hub demo.

Thanks, Pooja. I'm now sharing my screen. So you should all be able to see on the screen share on the webinar the Personalization Hub. In this demo example, I'll be James Smith, who is a pharmacy sales representative, who wants to personalize how they get to receive their insights. This works just as well for other viewers of BI tools like pharma reps or digital marketers, medical teams or even head office users like brand or account managers, works for all. Like the consumer applications that we referenced earlier that we're all familiar with, just a couple of clicks to set these onetime initial preferences. First, I can explicitly call out the things that matter to me. Like all steps, if I don't have a strong preference, I can skip these, and I can always come back and adjust them later. Here, I already have configured a couple of territories and brands that I have a particular preference for or away from. Next, I'm choosing the recommendations going into what we call this insight subscription. My manager has already assigned to me a few of these that are mandatory for me to have in my subscription, so I don't miss really business-critical notifications. As mentioned before, the Personalization Hub is also highlighting a few recommendations that others like me have found useful. This will evolve as I interact with these recommendations and will proactively notify me of new ones as they become available in my organization so I stay up to date. Underneath is the entire catalog of recommendation types available to me that I could add on. I like to look at this one here, so I'm going to add it to my subscription. The same thing then applies to our KPIs, those made mandatory to me by my manager and then underneath all those that others like me have found insightful. Again, this is specific to me. Our complex engine behind the scenes is doing all of the data crunching to work out what I specifically like based both on the preferences they entered earlier and what dashboards I and those like me have interacted lots with. So I'm going to add this KPI. I can also select other individual KPIs from my entire catalog from across multiple data sources such as sales data, CRM data activities and even marketing data as well. This gives me that pull aspect where I'm empowered to choose what I receive in my subscription beyond what is business critical. Lastly, I can choose where I want these delivered. The embeddable portal is enabled by default. So I can always come back, see what my subscription looks like and adjust things to my liking as I see them in other channels. But I use other communication tools a lot as many of us do, and I want my insights sent to me as also an e-mail digest. I want to send to my Outlook and I want this summary, let's say, every Monday morning before my sales planning meeting at 11 a.m., so they're ready and ready there for me when I -- on Mondays. I also want this in Teams. So I can discuss my insights with others and have it quickly available when I'm working there. As you can see here, there are lots of other channels available, and this is going to continue to expand as we -- as organizations expand. So users can choose exactly where and how they want their insights delivered. So it's always right at their fingertips without needing to navigate anywhere else. While the system collates my personalized content, let's see what this looks like in those other channels I just enabled. So in e-mail, this is an engaging, rich summary of what I need for the week, complete with embedded KPI graphs and follow-up actions. In Teams, exactly the same look and feel with even greater insight interactivity. And I can always click through from these channels to the embeddable portal. The most high-scored recommendations are the first thing I see. So I can review my commonly interacted with actionable insights immediately without having to do any configurations, any filters or any scrolling. Underneath on where you need to focus gives me a dynamic heat map of which of my business areas are getting KPIs and recommendations, so I know at a glance where I need to focus and can quickly jump to them. In your insights and your KPIs, I can see my recommendations and KPI cards, respectively, and can expand them to view more context. I can also zoom in to each KPI. And if I'm a power user, explore underlying data with that data drill down. Asking a question on a KPI activates our chatbot. This natural language assistant can help verbalize graphical trends such as how my sales are doing, but I can also start from scratch. And the chatbot will guide -- help guide me on the topic areas that are key as being highlighted and will even show me content that matches the discussion we're having. This layers on top of all of the existing created BI content that all of our organizations now have. So for every KPI, I can click through to see more business context from those prebuilt dashboards. And this can link above multiple different dashboards so you can always allow your users to go and view what's already been made. This portal itself is configurable so you can embed your personalized content or surface it as other reporting views into existing BI tools. This is just the example we're using. All of this is constantly evolving and notifying me of existing and emerging business needs. And as my organization evolves, the new abilities that we're able to deliver for intelligence, giving me as a user a proactive discovery insight experience delivered into whatever tool I use in the most interactive way possible. What this really does is it turns business intelligence that's one size fits all into my personable, actionable guidance. So this is being formally launched in -- on April 1. There's lots more on here that I haven't shown. So please do get in touch if you'd like a full demo of how this system elevates the adoption of your existing business intelligence and integrates with your existing ecosystems. Back to the presentation. And lastly, we just have those key takeaways. So the first thing is that we've observed and I'm hearing from a lot of our clients and from the industry in general that many commercial teams are facing a variety of those adoption challenges that hinders the fantastic -- can you move it on? I can see it's moved. That's hindering the amazing value that can be delivered, that amazing value of ROI for each of these business intelligence tools because it's not integrated into those daily workflow tools, not in a single one source of truth way, and it's not personalized intelligence to the end user. Our IQVIA Personalization Hub is a first-to-market lightweight solution that maximizes the value of your existing intelligence solutions with minimal to no disruption, a really nice, enjoyable experience that drives adoption in the same way that we're used to our commercial applications, and consumer application doing so nowadays. And it focuses on those personalized high-value insights with recommended actionable steps in that one source of truth view that can really help drive team productivity and effectiveness. Look forward to hearing everyone's feedback and also hopefully demo-ing this further in the future.

Thank you, Will. Thank you so much. And actually, there are some questions for you. Let me get started with the first one is does it work with IQVIA data only? Or it can be used with other sources? I mean this is a pretty simple one. Thank you for the question.

Yes. So this works across all data types. This is completely data agnostic. A lot of the sales data can come from IQVIA but a huge number of other sources of sales data. CRM data itself often comes from within client organizations, within life sciences organizations and the CRM systems they use. And a lot of other data sources feed in to this intelligence. So no, it is not limited to IQVIA data sources. It works across all agnostic data sources.

Thank you. Thank you so much. And Pooja, one for you if you want to get it. Have you developed this solution in collaboration with pharma?

Yes. So probably Will can add more. But I think one of the nice things about this development is we've really tried to work with pharma to understand those pain points that are most critical for them to be addressed in order to deliver a solution that will drive adoption, will meet those business objectives. So that's where earlier in the presentation, when we gave examples of all of the user pain points, that's also to demonstrate how we have worked with people, like those attending this presentation, to understand more deeply what are those specific pain points that need to be addressed in a new kind of personalization type of offering. And I know that we also have been working with leading pharma to not only just understand those pain points but also test out the solution. So whatever Will has actually demo-ed has been done in close collaboration with pharma to really nail those particular workflows down. So it's just a few clicks, you come in, it motivates people to want to look at those insights. It's adjusted into the daily workflow tools with the digest that's easily consumable and actionable. So Will, I know you, in particular, have been working with a lot of clients. So feel free to add anything.

Yes. The other thing I just wanted to add is that this is very much something that's going to continue to evolve with our life science partners' feedback. What is needed will continue to evolve. We want to continue making sure that we're taking everyone's feedback into account to really make sure we're creating those elements that really work as our organizations evolve.

Yes. And maybe another thing is that we've already delivered solutions to customers that have a good adoption rate. And so I think customers have also come to us with this ask that can you develop a solution like this because of the trust they have in our expertise, because of what we offer and the technology expertise that we offer as well. So it's also customers coming to us with the ask that makes us really special.

Yes. And last thing. I also want to add something, right? We often work with the customer doing assessment, right, on data and analytics in general. So we really hear a lot from you, and we collect survey and feedback. So that's really a result of what we strongly believe can help to drive adoption. Thank you. Thank you, both. I don't know. There is one more. Both of you maybe can get it. You mentioned that the user will always see fresh content. Now I don't remember who mentioned that. So are insights presented in real time? Maybe it was you, Will.

Sure. So the insights are effectively in real time. It does take time for data to filter back from when someone has clicked or done some action that changes data. But the Personalization Hub updates the recommended insights available based on data the moment that it's available. So effectively, yes, the new content are essentially real time. When we've tested out so far, we're seeing updates coming through in the matter of minutes, which is really great to see.

Okay. So you also addressed one more question, which was what is the frequency of content update. So thank you. Thank you so much. One more is I assume there will be a capability to bring in data from a cross-functional perspective so not only commercial, but also medical, PSP, et cetera.

Exactly. Increasingly, we're seeing life science organizations with data that is integrated across multiple different business units, not -- as you said, not just from commercial but across medical and sometimes some patient support service-related information. Definitely, we're seeing that those are really managing to bring those together with some of our support, are now delivering insights from a cross-functional perspective. And our platform natively does support that kind of omnichannel approach, where it can coordinate across teams as well as for individual users.

Good. I can get the next one, right? They're asking how we can prove that this will drive adoption rates. Actually, this is a very good one. It's -- there is no standard approach, right? It depends on what the personas that we are going to cover and the KPI. But definitely, we can compare the adoption at the initial stage and after a few months of running with Personalization Hub. So in -- usually, this is done during -- when we design a solution and we define what are the best KPIs to measure ROI and result from a business perspective, okay? Because, of course, talking about commercial, for example, we expect that driving adoption, letting you be a drive -- a data-driven company will speed up your financial results at the end. So I don't know, Pooja, if you want to add anything to that.

No, I think you summarized it well. I mean our team has a very strong change management expertise as well. So when they come in with a solution and working with clients, they really work with you to make sure that your objectives are properly defined and to make sure we could track the progress so you can see what kind of ROI this is making for your organization, So yes.

Thank you. Do you want to -- data as well? As I see, sales data will be available on time, but how frequently update will be available on CRM data?

So I think I can probably answer that. So we integrate directly with CRM systems and can pull that data on a near real-time basis. So again, we're seeing changes in CRM activity reflected in notifications and insights within minutes at a push sometimes hours, but generally quick enough that it makes a meaningful difference to the organization to have those insights quickly available.

And if I can add, Will, right, if we are going to position Personalization Hub on top of your current BI platform, then, of course, the frequency of updates that you already have would be the same, and nothing will change, right? Because again, this is a very, very important topic from my point of view, right? We can drive adoption without disruption, right, using the technology, the capability, the solution that you already have in house. And to me, this is really, really important.

Yes. Exactly. And I think there's another question around data on already existing BI tools. Can that be integrated into the daily workflow tools? Exactly. It can. And this is what we're demonstrating here of having existing BI tool content integrated in that personalized way with the important aspects shifted to the top, and packaged in the right way into daily workflow tools so that it's super easy to consume and adopt.

Good. One more, what's the rationale or science behind what is considered a high-value insight?

So yes, maybe I could start. Will, you can always add. So high-value insight, basically, we've tried to make this also ROI-driven. So anything that's supposed to increase your HCP engagement. Maybe there's a territory that's not performing well in sales, we can actually drive some insights towards helping with engagement activities there or driving a better sales uplift. So that's where sort of bringing that ROI-driven focus on those high-value insights. Prescribers that could also influence other prescribers, anything that could help you meet your business objectives in a much faster, easier way. That's what we would sort of prioritize at the top. So it's basically, you come in or through your e-mail digest, you will see what are the actions you need to take that will have a significant outcome in your business objectives. So it motivates people to actually want to look at the insights and take action.

And layered in with that is your personal preferences and the -- what is being engaged with at a high level. The comments we saw from industry are often some dashboards have just got too much content, and it's not specific to them. And by identifying the actions -- the recommendations and the insights that are actionable and that are ROI-driven and that people are actually wanting to engage with and making sure they're first and making sure that we're ticking those boxes for the user specifically first before focusing on other insights, that is that extra layer of aspect of high value. It's not just overwhelming with lots of other things. It's making sure it's high value for you as a user.

Good.

Yes. And for me, I think that's what's really unique about what we're offering. It's not just an insight that something is doing well or not well, it's also pairing it with a recommended next step. So I think this is where making sure that those high-value insights have a course of action that people can take as well, which I think is really nice.

Thank you. Thank you so much. One more is we already have a chatbot. Can we also integrate chatbot or virtual assistant into it?

Yes, we can definitely explore having the chatbot assistance. We're making those integration points agnostic. So if existing systems already provide things like NBA or as we've already discussed business intelligence, that personalization layer can integrate with those 2.

Super. There is one that I really like. Can a single affiliate for such a solution or SAP deploy on a global scale to get the nice effect of cost of scale? I can get it, right? Of course, you can do it at any level, is fully scalable. And actually, we suggest, right, to start with the pilot country. And we can start discussing how to identify the right pilot country. Usually we suggest to avoid too large or too small country affiliate. But definitely, you should start with the pilot. We can define how to measure their why and then define a scale-up approach, right? So no, that's -- it's absolutely affordable, and you can start with a specific affiliate. And that will also give you the opportunity, right, to focus on where are your adoption issue and how to address it, right? Good. Let me see if there are other questions.

While you're looking, Antonello, also just for everybody to know that this webinar will be available on demand with the same link. So if you do want to come back to it afterwards, you can or if you want to encourage others to look at it, you can do that as well.

Okay. Yes, there is one more, more technical. Do you need to create a data management layer on top of it? Or you can use the existing data warehouse?

I would advise that you can do it with existing data warehouses, but you will get better insights and a more unified approach. I think someone else mentioned having that cross-functional insights. They typically are easier to deliver with a proper, managed data mart where those insights have been unified together into one database. So yes, it is possible that you get higher value if you've brought it together into a well-constructed schematic data layer underneath.

Super. Then there is one more. It's more about if we are going to share the slides and if this is recorded. Yes, the presentation is recorded. So you can get it on demand using the same link. So there are no issue from that point of view. And one for you, Pooja. Can you explain how works the implicit preferences or does it work?

How does -- maybe Will can take it more. Yes.

Yes. So I don't -- we're not getting too technical. There's a complex set of algorithms with some cleverly constructed data structures that no one needs to worry about because we handle it all behind the scenes that helps figure out the preferences of a user based on what they're clicking on and what they're interacting with. And we also marry that with what other similar users have done the same. In the same way that when you go to Netflix and you see content, it will be a combination of what you've clicked on plus what others like you have found interesting. It is mostly complex and technical behind the scenes as an algorithmic process. But it takes fine-tuning and frequent feedback to ensure it gets right. And we think we're at a good stage where we can do this now. I guess the one thing to add is in some of our other applications, we've been personalizing the experience for health care professional engagements. I think you saw many of the insights were tailored around that. And we've spent many years with algorithms optimizing the best engagements for customers. And we're taking that same expertise on how you personalize an experience for your customers and just making sure we're applying it correctly to how you personalize the experience of an end user of a business intelligence tool within an organization.

Perfect. Thank you. I think we are done, right? We can leave some time to do the survey and -- but please, as you can read below, right, you can contact us for the demo. There is also a question about that, right? You can follow up with any one of us. And we can organize a specific demo to go through it and to understand, right, your current architecture, infrastructure and how we can easily integrate this within your company. That's it. Again, thank you. Thank you so much for joining us again, and thank you. Thank you, Pooja and Will.

Okay. Yes, thank you.

Please take the survey. Thanks.

Thank you.

Bye.