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.
I attended the Pharma CI conference in Parsippany, NJ this month and found the presentations to be informative.
A session, in particular, left an impression on me. It was focused on using competitive intelligence 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. This intelligence allows a company to initiate a “right turn” when indicators about new marketing innovations and products are received.
One of the challenges in an effort like this is not having an established central base of knowledge. This is the case with most companies, information is housed in disparate locations: legacy systems, SharePoint sites, shared drives, archived emails, different departments, etc., and then frequently lost due to turnover, attrition, system upgrades, M&A, etc., making it difficult to access when needed.
So, the question becomes how can you “repurpose knowledge left on the cutting room floor?”
You can do it by implementing a technology solution to facilitate the collection, indexing and sharing of internal and external information. Having a single point of access will ensure that users are working with all of the available information thereby preventing duplication of effort.
Finally, over time, a technology solution can foster an environment of collaboration and sharing which is a step toward the goal of building an intelligence culture in your organization.
Knowledge360® helps support strategic decision-making for organizations competing in dynamic, competitive markets by providing robust aggregation, collaboration, and automation tools that help users make smarter, faster strategic decisions.
Cipher will be sponsoring the following conferences this fall. Schedule some time to chat with us if you or your colleagues plan on attending.
Dawn helps companies in the Life Sciences space map their competitive environment, develop intelligence strategies which identify risks, and position them for future growth. Prior to joining Cipher, Dawn worked for many years in the Healthcare space in leadership roles at Cigna, Schering-Plough, Pharmacia (now Pfizer) and Johnson & Johnson companies Ortho Biotech and Ortho-McNeil, and in the Management Consulting space for Right Management.