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Learn How Lone Star Analysis’ Competitive Intelligence Team is Greatly Increasing Efficiency

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The Need: Improve Research Efficiency

This intelligence services company needed to find a way to improve their team's research efficiency, and fast.

The Approach: Demos and Trials

The Director of Competitive Intelligence got demos or pilots for every competitive intelligence software tool on the market to find a viable solution.

The Result: More Efficiency 

After implementing the right tool, Laurie's team was able to cut their monitoring activities from 8 hrs a week to approximately 2 hours.

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About Lone Star

The team at Lone Star is all about helping their customers make smarter and faster decisions. They pride themselves on providing the answers customers can count on when making strategic business decisions.

Particularly in the Aerospace and Defense area of their business, the team at Lone Star knows that every mission hinge on a series of choices. The right choices, made at the right times, lead to success.

That’s why aerospace and defense companies trust Lone Star. Their predictive and prescriptive analytics models use the exact data they need to make smarter decisions and solve problems in near real-time. These smarter, faster choices are the keys to contractors delivering mission success.

Improving Research Efficiency

Laurie Young, Director of Competitive Intelligence at Lone Star Analysis, and the team of 25 analysts serve numerous clients daily as an outsourced competitive intelligence team.

What Laurie ultimately found was that in her efforts she was spending too much time in “research mode,” combing through sources for the appropriate data from which to serve as the foundation for insights she’d share with her clients.

The value she truly provided her clients was in analyzing the data and providing her customers with the insights they needed to make important decisions.

Spending hours combing through data was a necessary evil, but not the best use of her time.

She and her team set out to evaluate as many market and competitive intelligence tools on the market as possible, to see which one could truly improve efficiency and allow her to focus her time on the activities that provided the most value to her customers.

 

Laurie Young

Too much time on research.

“I found that I was spending most of my time on Sundays catching up on continuous monitoring activities, just so I could focus my weekday work on analysis.”

Laurie Young, Director of Competitive Intelligence at Lone Star Analysis

Evaluating the Tools Available

Laurie embarked on a mission and got demonstrations and/or trials of many market and competitive intelligence software offerings... While she found that many tools offered value of different types, only one tool offered her the gains in efficiency she and her team so vitally needed.
 
Through a demo and six-month trial, Laurie and her team confirmed that Knowledge360 was the tool for the job. Most importantly, the aspects of the product that stood out to her included:

Improved data collection efficiency

The team at the Competitive Intelligence Services company was able to significantly reduce the amount of time they spent on research, without losing any quality.

Unlimited access to information

Knowledge360 had the most comprehensive set of data sources available on the market, and there were no limits on how many times or how often you could access that data.

Continuous monitoring capabilities

Setting up continuous monitoring meant no more “searching for information.” If there was something important the team needed to know, all of their dashboards and alerts would automatically raise it to them. They could simply do a quick scan of what was new as it popped up.

Price point

The pricing for Knowledge360 fit well within the market prices and provided far more value in efficiency gains, providing a positive ROI.

Laurie Young

Only one tool met my needs.

“I got demos of every tool on the market, and Knowledge360 was the only one that truly met my needs.”

Laurie Young, Director of Competitive Intelligence at Lone Star Analysis

How Much More Efficient?

Efficiency is great but quantifying it is even better.

Let’s start with Laurie herself. As mentioned previously, Laurie was spending her Sundays catching up on continuous monitoring activities, about 8 hours per week in total. At any given time she is tracking between 12-20 companies across 4-5 different industry groups.

 

Once Laurie started using Knowledge360 to automate most of her continuous monitoring activities, she found she could accomplish the same goal in approximately 2 hours per week. Over the course of a year, this comes out to a significant savings in hours just for Laurie alone.

As a result, Laurie is now working on standardizing the use of Knowledge360 across her entire team.

Laurie Young

Invest more time in analysis.

“The investment of time spent doing research should be much lower than the investment of time you put toward analysis. That is where CI practitioners provide their real value. Knowledge360 is the only tool that actually allows me to do that.”

Laurie Young, Director of Competitive Intelligence at Lone Star Analysis

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