The Life Sciences Insights Brief is a monthly newsletter produced by our Director of Life Sciences, Dawn Faint. The brief will provide insights into current industry trends and actionable tips to help you navigate this complex and highly competitive market.
When I reflect back over the many conversations I have had with Life Sciences professionals this year, one common theme is that the rate of change is accelerating faster than their ability to keep pace.
In many cases, technology is both the cause and the solution to the challenges associated with a fast-paced market. Having a technology solution in place automates the collection process – enabling teams to stay current and focus their efforts on more value-added activities such as providing expert analysis and strategic recommendations.
Below are some key takeaways from the Cipher blog this year which provide recommendations for the Life Sciences industry on how to keep ahead of market shifts:
- CI pro tips for trend monitoring
- Key takeaway: Failing to challenge perceptions can cause you to overlook future market disruptors.
- Using CI to adapt to market changes
- Key takeaway: Competitive intelligence can be used to “repurpose” brands into products consumers want, adapt for new technologies, or uncover new sources of growth that align with a company’s core competencies.
- The accelerated pace of change in healthcare
- Key takeaway: Enact your “no regrets” activities: Install a Technology Solution; Refresh Your Threat Assessment; Broaden Scenario Planning; Plan for War Games.
- Trend Monitoring: Positioning your business for growth and disruption in competitive markets
- Key takeaway: The level of trend monitoring required depends on your industry, your market position, and your organizational goals.
- Bio-pharmaceutical Collaboration: A Research Imperative
- Key takeaway: As integrators, biopharmaceutical companies need a means by which they can identify and track collaborators not previously on their radar or new entrants as they emerge, as well as manage complex projects with multiple stakeholders.
The ultimate key takeaway from this year? Investing in a technology solution will help you help keep pace with the market and your competition. Learn more about choosing a solution with our 11 step guide and stay tuned for more Life Sciences Insights in the year ahead.
Knowledge360® supports competitive strategy for organizations competing in dynamic, competitive markets by providing robust aggregation, collaboration, and automation tools that help users make smarter, faster strategic decisions. Knowledge360® makes it easy to aggregate and visualize your information from a centralized, cloud-based solution.
Contact us for a demo of Knowledge360® today.