New Study Focuses on Creating a Value-Oriented Competitive Intelligence Function within a Pharmaceutical Company

CHAPEL HILL, N.C., April 28, 2017 /PRNewswire/ -- The Competitive Intelligence (CI) function is often undervalued in the pharmaceutical industry, and as a result leaders of this role sometimes struggle for attention and resources.

The value of the function remains murky in many companies, in part because CI remains a sub-function or a fragmented work group as opposed to a traditional corporate function, such as marketing or sales, according to new research from research and consulting leader Best Practices, LLC. Still, the study found that there has been an uptick in the number of CI groups that report directly into the C-suite, from 12 percent in 2013 to 17 percent in 2016. And, a majority of companies in the study said they experienced an increase in the number of internal CI information requests in 2016.

Find out how to make - and keep - your organization's CI team relevant with this new study identifying best practices and innovative methods for improving the strategic role and impact of the Competitive Intelligence function. Twenty-four Competitive Intelligence leaders from 20 companies participated in the study, which provides benchmarks and insights across a range of key issues affecting the CI function.

Topics addressed in the study include:

• CI Sources & Activities
• CI Budget & FTE Levels
• Uses of Third Party Vendors
• Top 5 CI Employee Skills
• CI Evolution & Trends
• CI Structure & Leadership
• Best Practices & Lessons Learned

"Competitive Intelligence Excellence Benchmark: Creating a High-Value CI Function to Drive Better Business Decisions," is a new 62-page report that CI leaders can use to increase the value of their deliverables, and to generate greater influence among their stakeholders.

Review a complimentary summary of the study at http://www.best-in-class.com/rr1445.htm.

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.

SOURCE Best Practices, LLC

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