Are you missing out? – How to rethink Competitive Intelligence
By Rafaat Rahmani, Founder and CEO, Lifescience Dynamics
Innovation, paired with a strong understanding of data, is essential to staying ahead of the pack in the rapidly evolving pharmaceutical, biotech, and MedTech sectors. Smaller, more agile firms are constantly challenging established giants. In this hyper-competitive landscape, companies face significant challenges due to resource constraints and fierce competition amid macroeconomic headwinds.
Competitive intelligence (CI) is an indispensable tool that can empower marketing leaders to thrive in this demanding environment by anticipating future trends and learning from their competitors. In an era defined by technological innovations such as AI and virtual reality, traditional CI-gathering methods have failed to keep up. “Old-school” methods of collecting CI are mired in manual grunt work and prone to human errors. However, there is no substitute for high value, high impact primary human intelligence.
To out-maneuver competitors, it’s vital to closely monitor and analyse the actions of other companies. Learning from the missteps of others and avoiding common pitfalls can give you a significant advantage.
It is time to reimagine CI that hinges upon tech and talent. By taking advantage of computing power, we can design and program CI tools that are automated, faster, and easy to use. In the process of automating repetitive tasks, we eliminate human errors, increase flexibility, and reduce response times. This, in turn, allows your team to focus instead on the kind of critical thinking that machines cannot replicate. This article offers a snapshot of how you can use our software programs and services to stay abreast of the latest industry developments.
Never miss a clinical trial update
- DynamicsTracker®: The proprietary, cloud-based platform, DynamicsTracker allows for fast, accurate and easy clinical trial monitoring. This tool has real-time API feeds from ct.gov and other paid databases. DynamicsTracker is an in-house tool built from the ground up. It is reinforced by 20 years of collective CI experience which acts as the clinical trial hub for any CI project. A single repository for clinical trials of interest which automatically updates in-real time and alerts you to live changes.
- DynamicsPlanner®: One of the most time-consuming chores is preparing for a conference and keeping track of which events will be most beneficial to your work. Powered by custom scripts, leveraging the knowledge base of Excel, DynamicsPlanner® is fast, comprehensive, and fully formatted for easy navigation. After a conference agenda is set, this platform provides a 48 to 72-hour turnaround. You will receive planners presented in a spreadsheet format with various tabs for multi-day conferences that teams can use to improve their efficiency, accuracy, and speed throughout their organisation.
The proprietary, cloud-based platform is powered by custom scripts. User-friendliness is paramount. By design, the planners are set up for easy navigation with outlines of all sessions and abstracts, identified diseases, products, and MOAs incorporated to help make the most of conference attendance.
- DynamicsView®: DynamicsView is a competitive intelligence tool used to visualise clinical and commercial data from primary and secondary sources. The proprietary, cloud-based product leverages the immense power of Tableau and Lifescience Dynamics’ deep competitive intelligence expertise to build and perform ad hoc analyses. DynamicsView transforms multiple filtered datasets into visual graphs accessed in a bespoke interactive dashboard, providing seamless and lucid data interpretation for clients.
- IntelliCentral 2.0®: IntelliCentral, a CI command hub; provides a comprehensive view of competitive activities in a central, convenient location. It has built-in DynamicsTracker for visualisation of competitive landscape in real time. This custom-written application enables the integration of intelligence from diverse sources such as alerts, earning calls, primary human intelligence, medical conferences and a range of databases with a view to helping you make informed decisions. It supports global, regional and country-level brand teams to assimilate and curate competitive news and information for their Key Intelligence Questions.
Backed by 20 years of Competitive Intelligence expertise, IntelliCentral has been designed with user experience at its forefront. This Web and Mobile-friendly tool transforms intricate data points into easily understandable visual elements including alerts, graphs, landscapes, or timelines. It provides seamless information accessibility with an intelligent tagging system and a robust search function. With its advanced collaboration features, it facilitates productive, data-centric discussions among your team.
- iAdboard®: A tool designed to virtually mimic round table discussion. iAdboard, is an invitation only, virtual discussion platform. It harnesses the power of the collective thinking of physicians, payers, patients, and experts and is an alternative to the traditional methods of focus groups and advisory boards. The proprietary, cloud-based platform is a bespoke application and has been developed by the market research and market access experts of Lifescience Dynamics Limited.
Consistency combined with cutting-edge and user-friendly interface
We are redefining the CI process by automating tasks using pioneering technology. With our army of subject matter experts, you will benefit from our historical knowledge, contextual understanding, and our ability to grasp the intricate connections between diverse elements across the industry.
CI provides the means to make informed strategic decisions, optimise ROI, enhance marketing efforts, and ensure data-driven business decisions. The application of user-friendly platforms such as IntelliCentral, Dynamics Planner, and DynamicsView further accelerates the industry’s ability to effectively leverage CI. The tools are now available to any life science enterprise in need of provisions to give them a competitive advantage when it comes to planning, researching, analysing, and monitoring developments in their area of industry expertise.
About Lifescience Dynamics
Winner of the prestigious Queen’s Award for Enterprise (2016) and The King’s Award for Enterprise in (2023); Lifescience Dynamics is a decision support firm providing the world’s top 25 largest life sciences companies (pharmaceutical, biotechnology, diagnostics, and medical devices) with strategic insight and foresight to improve decision making.
Lifescience Dynamics works across five practice areas: Market Research, Competitive Intelligence, Market Access, Strategic Advisory and Real-World Evidence. Founded in 2004, The company’s headquarters are in London, with an office in Toronto, as well as virtual offices in Boston, New York, San Francisco, and Vancouver.