Pharma-clinical-trial-programs have resisted adopting BI due to its inability to satisfy regulations; including security, audit-trails and communication between companies. While not commonly seen in clinical trials, pharma companies have benefited from utilizing BI. For example, Astra Zeneca uses BI to generate immediate responses to report inquiries, while Roch’s Spain Division uses BI to generate and send individualized information to each division. Both companies increased sales since incorporating BI solutions into their decision-making process. Pharma companies can benefit from using BI in clinical trials to create Clinical Research Intelligence frameworks to enhance data collection, analysis, reporting, and dissemination to participants in other locations.
For retailers of all types and sizes, gaining insight into consumer preferences, needs and decision making processes is critical. Consumers can be fickle – being fiercely brand loyal when it comes to certain purchases, extremely value conscience when purchasing a new product and yet impulsive when it comes to another purchase.
Today’s companies need the following information:
• Understanding what drives customers buy from you. Is it pricing, quality, or accessibility?
• Target marketing efforts – make the most of your time by marketing the correct product to the correct customer.
• Identify new selling opportunities – cross promotion on products.
• Proper inventory for your customer base – reduce excess cash flow needs and improve your reputation by being on time with your orders.
These are all items that need to be addressed when you are running a business. Customer intelligence is one of the most import aspects of your business and a cornerstone to your competitive advantage.
Gathering, analyzing, and applying superior competitive intelligence is one of the most critical factors in any successful business operation. Continuous monitoring about your competitors is essential to stay alive in the market place and in reducing response time to competitor moves. However the process of getting access to those data could be challenging, manual, and time consuming.
With Intellectyx’ competitive intelligence offering, our clients now enjoy a cost effective real time solution and get access to competitive information in fraction of seconds. This enables our clients to stay ahead of the curve and develop timely, profitable products. Irrespective of whether its health insurance competitive intelligence or property and casualty insurers or retail market or financial industry or travel industry, our offerings could be used to aggressively monitor and track your competitor moves – automated. With real time competitive information handy, now you have the power to make informed strategic decisions and stay ahead in the competitive marketplace.