Why Competitive Intelligence is required for the Industry?
In today’s fast changing / global business environment, competitive intelligence strategy (CIS) is playing a favourable role at every stage in the organization and has significance presence in the pharmaceutical industry. Competitive Intelligence (CI), is the process of compiling, analyzing intelligence focusing on competitor products, customers, market environment, and really a efficient method in mapping or knowing the strategy of a competitor on products/services. In simple terms “CI” is a process which gives perceptivities into what might happen in the near future. This process involves stages from data to information to intelligence. Intelligence differs from data and information since it requires some form of analysis. The purpose of this analysis is to derive some meaning from the gathered data and information. The CI analysis, filtering of the data and information helps one to act on it and understand the options, giving an opportunity to make way forward decisions. Co...