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Best Practice Database
Competitive and Business Intelligence » Strategic Insights
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An effective competitive intelligence function helps guide the strategic direction of organizations facing a rapidly changing market place. Key components that can enhance the strategic role and impact of the competitive intelligence function include the sources it uses to gather information, the activities it conducts to analyze information and the deliverables it creates to inform the organization.
Best Practices, LLC undertook benchmarking research to identify best practices and innovative methods for improving the strategic role and impact of the competitive intelligence function within the biopharmaceutical industry. In particular, this study provides benchmarks around the key sources for data collection; use of third party vendors; and activities and deliverables that competitive intelligence leaders rely on to enhance the effectiveness of their function.