Navigation Links
Using the Competitive Intelligence Function to Drive Better Business Decisions in the Pharmaceutical Sector

CHAPEL HILL, N.C., Aug. 29, 2014 /PRNewswire/ -- The Competitive Intelligence (CI) function is evolving in the face of regulatory and marketplace changes. CI leaders who adjust will succeed, and those who don't will flounder.

In a new Best Practices, LLC study CI leaders from 32 biopharmaceutical organizations delivered a host of actionable insights, including:

- Use secondary research whenever possible - it's effective, safer, and cheaper than primary research

- Internal staff who are creative thinkers provide the CI insights that can make a difference

- Conferences & trade shows and industry experts (KOLs) are major primary research sources - however, industry experts are seen as much more effective than conferences/trade shows

A successful Competitive Intelligence (CI) group provides insights that help an organization navigate a changing marketplace. Effective CI enables companies to make better decisions - and avoid corporate risk. The key elements that shape the effectiveness of a Competitive Intelligence group include the sources it uses to gather information, the activities it conducts to gather/analyze information and the deliverables it creates to inform the organization.

This is just a small sampling of the insights in "How Successful Companies Create and Develop a High-Value CI Function to Drive Better Business Decisions," a 83-page report that CI groups can use to evaluate their functions, increase the value of deliverables, and generate greater influence among their stakeholders.

This report will help CI leaders compare their:

  • CI Sources & Activities
  • Budget & FTE Levels
  • Uses of Third Party Vendors
  • Top 5 CI Employee Skills
  • CI Evolution & Trends
  • Structure & Leadership

Among the study findings was the use of advisory boards is down significantly from previous Best Practices LLC studies, where as many as 90 percent of respondents engaged them to gather intelligence. In this study, only 52 percent collect intelligence from ad boards, and only 21 percent find them highly effective for primary research.

This report also identifies 10 Hallmarks of Competitive Intelligence Excellence and presents insights from interviews with veteran CI leaders on how to evolve the CI role from data gathering to providing strategic advice to decision makers. Thirty-five Competitive Intelligence leaders from 32 companies in the healthcare industry participated in this benchmarking study. Participants represented small, midcap and large biopharmaceutical and medical device companies.

Review a complimentary summary of the study at

For related research, visit our Best Practices, LLC Web site at


Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.

SOURCE Best Practices, LLC
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Fujitsu to Showcase Radiation-Hardened RFID Using FRAM Technology at Interphex 2012 in New York City, Booth #2430
2. National Jewish Health, the Nations Premier Respiratory Hospital, Announces Lung Cancer Screening Trial Using Blood Test and CT
3. National Study: Teen "Heavy" Marijuana Use Up 80 Percent Since 2008, One in Ten Teens Reports Using Marijuana at Least 20 Times a Month
4. Physician-Patient Alliance for Health & Safety: Monitoring Technology for PCA Pumps Can Prevent Adverse Events: So Why Are Hospitals Not Using It?
5. Results Reported for Phase Ib Open-Label Clinical Trial for the Treatment of Depression Using External Trigeminal Nerve Stimulation (eTNS™) - The USB Port to the Brain™
6. Cancer Experts Detail Treatments using TrueBeam System to Reduce Number of Treatment Sessions and Take Better Account of Motion
7. Elevate Provides Remote Access to Personal Health Records Using
8. Greenville Hospital System Achieves Dramatic Improvement in Hand Hygiene Compliance Rates Using New Technology from DebMed®
9. DebMed® to Debut Benefits of Worlds First Electronic Hand Hygiene Compliance Monitoring System Using the WHO Five Moments at Annual Infection Control Conference
10. Interim Results Reported for Phase I Open-Label Clinical Trial for the Treatment of PTSD and MDD Using External Trigeminal Nerve Stimulation (eTNS™) - The USB Port to the Brain™
11. Ochsner Health System Dramatically Improves Efficiency Using Hyland Softwares OnBase Solution
Post Your Comments:
(Date:6/24/2016)... , June 24, 2016 Dehaier Medical ... the "Company"), which develops, markets and sells medical devices ... , signed a strategic cooperation agreement with Hongyuan ... "Hongyuan Supply Chain") on June 20, 2016, to develop ... the strategic cooperation agreement, Dehaier will leverage Hongyuan Supply ...
(Date:6/24/2016)... Belgium , June 24, 2016 /PRNewswire/ ... announced the appointment of Dr. Edward Futcher ... a Non-Executive Director, effective June 23, 2016.Dr. Futcher ... and Nominations and Governance Committees.  As a non-executive ... provide independent expertise and strategic counsel to VolitionRx ...
(Date:6/23/2016)... 23, 2016 Research and Markets ... Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic ... Coating, Parenteral) - Global Forecast to 2021" report ... The global pharmaceutical excipients market is projected to ... of 6.1% in the forecast period 2016 to 2021. ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van Mitchell, ... at Work award to iHire in recognition of their exemplary accomplishments in worksite health ... annual Maryland Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic ... many turn to unhealthy avenues, such as drug or alcohol abuse, as a coping ... released tools for healthy coping following a traumatic event. , Trauma sufferers tend to ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary ... Dallas that it will receive two significant new grants to support its work ... marked its 25th anniversary by recognizing patients, medical professionals and scientists for their ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San Diego, CA is ... Road To Recovery® program to drive cancer patients to and from their cancer treatments. ... the highest quality of life and ongoing independence. Getting to and from medical ...
(Date:6/24/2016)... ... June 24, 2016 , ... EB Medicine presented its first-ever ... Medicine conference in Ponte Vedra Beach, FL. The awards honor the outstanding work ... Practice and Pediatric Emergency Medicine Practice. , “With this award, we recognize ...
Breaking Medicine News(10 mins):