Building a Central Repository
A biopharmaceutical company sought to compete in the highly competitive Oncology space. Using Knowledge360® they were able to assess and monitor their competitive environment to compete smarter.
Being a small biopharmaceutical company in a sea of brand names is a tough position for any company trying to enter the Oncology space. Having the ability to monitor the activities of established competitors, identify new entrants, track key topics, streamline the collection process, and easily share intelligence elevated one company’s understanding of their competitive environment and provided an opportunity for better decision-making.
The head of competitive intelligence came to Cipher looking for a solution that would be easy to use and help save time conducting competitive research so that they could focus more on developing and sharing analysis. Similar to many resource-strapped intelligence professionals, the client spent a majority of their time in the collection process of the Intelligence Cycle. This activity is particularly time consuming due to the 24/7 global news cycle, the impact of social media, and the ever-increasing number of contributors.
In addition to the challenge of research and data collection, the client was working with other teams using multiple software solutions to manage all aspects of the competitive intelligence process. This presented challenges for collaboration as well as organization, opening the door to missed insights that could be critical to their competitive strategy. The client needed to resolve these issues to keep teams aware of the activities of established competitors while also identifying new entrants.
To help the client get started with Knowledge360®, our Customer Success Team set up some preliminary topics and competitor dashboards specific to the Oncology space. This included competitive overviews of the big players in this space as well as specific drugs that competed directly with the client’s product.
The client used Knowledge360® to streamline the collection process with company dashboards that tracked the activities of key competitors, and topic dashboards that monitored Oncology news, disease states, clinical trials and patent information. These dashboards were then shared with cross-functional teams around the globe to keep everyone up to date on the latest information.
Leveraging Knowledge360®’s knowledge management capabilities, the client began migrating away from less secure SharePoint and shared drive systems for critical documents. Knowledge360®’s robust access permissions ensured that the right people had access to the right information when they needed it. All of the documents were “read” and tagged automatically by Knowledge360®’s Semantic Analysis filters, eliminating the need to assign keywords or develop a taxonomy to retrieve the information.
The client was also able to aggregate information from conferences using Knowledge360®’s Field Intelligence tool to gather insights previously trapped in emails and make them fully searchable. Finally, the team set up web pages to monitor for competitor promotions in Knowledge360®’s Web Watch, allowing them to track changes to the web pages and receive automated notifications.
The client saw a reduction in the amount of time spent collecting and organizing information. Some of the time-savings were the result of:
Overall, Knowledge360® elevated the client’s understanding of the competitive environment they were facing and provided the opportunity for better decision-making and collaboration among global teams.
Companies in high-stakes industries have been using competitive intelligence for decades to find and maintain a competitive edge. The CI industry's best tool, Knowledge360®, makes it easy to aggregate and visualize competitive information to share with your Sales, Marketing, and Executive teams so that you can always stay one step ahead of your competition.Demo Knowledge360®