WALTHAM, Mass.--(BUSINESS WIRE)--Trinity Life Sciences, a leader in global life sciences solutions, conducted research to explore the importance and impact of Competitive Intelligence (CI) from the perspective of pharma clinical and commercial teams. A changing competitive environment and rapidly proliferating data streams have made relevant, actionable market intelligence critical for life science companies. Organizations that rapidly contextualize, interpret and apply strategic reasoning are better able to optimize market positioning, make data-driven business development decisions and avoid suboptimal investments.
The study, Pharma Competitive Intelligence in 2022 & Beyond: How to Maximize Impact Among Growing Complexity, found that pharma teams agree that CI is important to their organizations. Eighty-three percent of CI leaders and partners agree that CI will be even more important in the next three to five years, especially as the number of competitors and products in the market increases. In addition, CI partners emphasize their reliance on CI leaders to keep them grounded in the realities of the external environment and to inform future actions with clear and unbiased insights.
“CI remains a vital function for life sciences organizations—yet it needs to evolve to command presence and adapt to market changes. Optimized CI can augment information streams by curating the relevant information, drawing out meaningful insights and placing them in market context," said Michele Andrews, Principal and Head of Dynamic Market Intelligence at Trinity Life Sciences. "The challenge of CI today is not only parsing the high volume of data and information inherent in monitoring the external environment, but also delivering the right insights to the right audience in the right way.”
A webinar, “CI Complexity in 2022 & Beyond: Making Friends with Volume and Velocity,” on March 10 will share insights and commentary on the opportunities and challenges facing pharma teams. Life science executives can register here. Members of the media who would like to attend can contact Elizabeth Marshall at emarshall@trinitylifesciences.com.
About Trinity Life Sciences
Trinity Life Sciences is a trusted strategic commercialization partner, providing evidence-based solutions for the life sciences. With 25 years of experience, Trinity is committed to solving clients’ most challenging problems through exceptional levels of service, powerful tools and data-driven insights. Trinity’s range of products and solutions includes industry-leading benchmarking solutions, powered by TGaS Advisors. To learn more about how Trinity is elevating life sciences and driving evidence to action, visit trinitylifesciences.com.
