What are the top challenges with regards to competitive intelligence in Pharma at the moment?
Ms. Ojewale, I’m more of a CI practitioner than Pharma industry expert. That said, I believe that many of the challenges in your industry are typical of many others. One of the problems inherent in CI is trying to make sure that the information you obtain will be used effectively to drive change that: 1. Strengthens a competitive position with an existing product 2. Finds new markets or uses for a product 3. Helps create new products that meet an unforeseen need. In other words, if CI isn’t producing revenue or leading to the revenue path, it may not be as worthwhile as you might think. The second problem is trying to convince change agents (senior management) that the intelligence should be used to create business change. This is a widespread problem that causes companies to under-leverage their CI efforts. Too often, the intelligence is judged as trivial. If the intelligence confirms something that the executive already knows, the information is devalued. If the intelligence shows so
