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Pharmaceutical Competitive Intelligence Excellence: Optimizing Data Collection Within Approved Guidelines
Best Practices LLC, April 2008, Pages: 56
This benchmarking study was conducted to understand how U.S. pharmaceutical and biotechnology organizations can optimize their CI operations while working within defined guidelines. The research examined a number of areas, including CI information sources and what is being collected. In addition, the study looked at how CI groups work with legal groups to develop standard operating procedures for data collection that are in the best interests of the organization as a whole and to maximize the CI department’s ability to deliver results. Managers and executives in CI and CI-related groups can use this report to compare critical elements of their operations with those of leading firms.
Research Overview:
Data for this study was collected by conducting an online survey instrument and through eight in-depth interviews with CI leaders and practitioners.
Study Objective and Methodology:
The objective of this benchmarking study is to understand how U.S. pharmaceutical and biotechnology organizations can optimize their CI operations while working within defined guidelines.
Particular attention will be paid to CI information sources, what is being collected, and how CI groups work with legal groups to develop standard operating procedures for data collection that are in the best interests of the organization as a whole and to maximize the CI department’s ability to deliver results.
Key Study Objectives:
- Define range of useful and effective information sources
- Understand roles and mechanisms of data collection, assimilation, analysis, and dissemination
- Delineate the process of CI guideline development
- Provide examples of CI guidelines and how they are used
- Explore effective CI practices
- Describe best practices in developing and managing the CI function
Key Findings:
- Multiple Sources are Vital to Effective CI
- Triangulate from multiple data sources to develop the most accurate projections
- Critical types of secondary sources range from trade publications to investor feeds
- Integrate primary data with these “existing” sources
People, Processes and Use of Third Party Vendors are Keys to Optimizing Data Collection
- Hire the right people, utilize advanced Internet search techniques, collect and review data overtime to distill relevant, actionable information
- Talk with employees across functions inside your company to discover information gaps
- Involve legal to mitigate risk if internal employees gather external CI information
- All large – and most small – pharma companies use vendors to minimize risk, to avoid the perception of wrongdoing, to improve the process, and get better finished intelligence
- Develop clear processes, practices and guidelines for all critical activities, such as collecting CI at trade shows
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