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Using the Competitive Intelligence Function to Drive Better Business Decisions in the Pharmaceutical Sector
Date:8/29/2014

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 '/>"/>

SOURCE Best Practices, LLC
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