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New Research Uncovers how to Build and Maintain an Effective Competitive Intelligence Group
Date:9/5/2007

CHAPEL HILL, N.C., Sept. 5 /PRNewswire/ -- While it's a relatively new function, Competitive Intelligence can have a long-lasting impact on an organization's position in the marketplace. By delivering high-impact analyses on competitors' products and operations, a high-functioning CI group can alert companies to emerging market opportunities or warn them about potential external risks.

Competitive Intelligence groups track an average of 60 products sold by competitors, according to new research by Best Practices, LLC. However, the study found the number of competitor products tracked by CI groups varies significantly between pharma and non-pharma organizations, with pharma companies tracking an average of 49 products and non-pharma firms tracking an average of 77 products.

The report, which presents data for the full benchmark class and pharmaceutical segment, is based on insights gathered from 54 companies representing more than 12 different industries. Participants included Amgen, Boeing, Eli Lilly, Fidelity Investments, IBM, Merck, Procter & Gamble, Kraft and Wyeth.

A complimentary summary of "Building & Sustaining Impactful Competitive Intelligence Organizations" is available at http://www3.best-in-class.com/rr850.htm

The comprehensive study covers everything from creating and structuring a CI group to developing high-impact CI activities and effective stakeholder relationships. The benchmarking study includes more than 500 metrics, including staffing and salary metrics. In addition to helping executives understand how to build an effective CI program, the study presents proven methods for increasing the quality and value of an existing CI group.

Some of the sample findings of the report include:

* More than half of the organizations participating in the study

established CI functions within the last five years.

* Strategic planning and business development are the departmental

homes where interviewed executives think CI should reside.

* The average CI operating budget is $821,613, although budgets varied

widely across study participants. The average salary for a CI head is

$148,709.

Download additional findings in the complimentary report summary at: http://www3.best-in-class.com/rr850.htm or contact our Solution Specialists at (919) 403-0251 or bestpractices@best-in-class.com.

If you would like to speak to us about how our research can benefit your Competitive Intelligence Organization or other initiatives in your company, please contact Cameron Tew, Manager of Research and Publishing at Best Practices, LLC at (919) 767-9246 or ctew@best-in-class.com.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC, conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC has been a leader in pharmaceutical research and consulting for nearly 15 years; our clients include 43 out of the top 50 pharmaceutical companies.


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SOURCE Best Practices, LLC
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