Healthcare & Life Sciences
Competitive Intelligence Solutions
Generating Smarter Analytics
Monitoring competitive scenarios to understand and predict the next possible move—knowing what the competitors are determined to do before they do it, is the biggest challenge Competitive Intelligence (CI) managers face. This involves tactful collection/collation of data, analysis of information and the generation of meaningful insights to enable the making of informed business decisions.
At Genpact, we understand the challenges faced by the Life Sciences and medical devices industries and the importance of having the right data at the right time. On the healthcare front, issues ranging from changes in business models to reduced product/plan differentiation are making both payers and providers re-envisage their competitive
differentiators. We adopt an objective-driven approach that enables us to provide the most relevant actionable insights through our competitor reports and benchmarking exercises.
Genpact excels at providing a cross-section of information on various relevant stakeholders, such as manufacturers, distributors, industry experts, hospitals, pharmacies, employers, and patients, to create a completely customized, multi-lingual view.
Genpact’s solution breadth is spread across four broad areas of research—ongoing, tactical, strategic, and predictive. Our approach is to look at these requirements objectively and create solutions that give an advanced level of clarity on information. Our three-pillar approach involves:
Ongoing Competitive Intelligence
- Customized and continuous monitoring of competition (businesses, market/sales, and customer intelligence and competitive landscaping)
- Social media monitoring (competitors, customers, brand perception, and market sentiments through a social web analytics tool)
Tactical Competitive Intelligence
- Product benchmarking and profiling (financial performance, marketing spend, compensation and benefits, and sales force deployment)
- Therapeutic areas/Mechanism of Action/Technology Pipeline assessment
Strategic Competitive Intelligence
- Strategic profiling (market size, research and development activities, performance history, key events, and forecasted future moves)
- Competitor multi-channel promotion analysis (identification, analysis, and deployment of various promotional channels, and their reach and effectiveness)
- Business war gaming
Additionally, our Predictive CI services create solutions based on advanced analytical methods—data triangulation, qualitative studies, and quantitative and predictive modeling.
Our mix of people (PhDs and post graduates in medicine, pharmacy, biotechnology) and technology (Buzz metrics, Radian 6, and in-house text mining tools, VBA, SAS, SPSS, MS Access, Business Objects, Crystal Ball, Siebel, Xcelcius) enables us to provide the most apt solution for your requirements.
For a Global Pharmaceutical Manufacturing Major
Genpact provided end-to-end Competitive Intelligence support for three pipeline products across Europe, North America, Asia, and Australia–this included CI reports of varied frequency (daily/weekly/monthly/quarterly), which combined best-in-class information data sources and secondary sources (webcasts, conference coverage, KOL activities, medical congresses) for specific therapeutic areas. The solution helped senior management take strategic views 40% faster across the brands tracked.
For a US Leading Medical Device Manufacturer
Genpact supported the client’s CI team with on-going web-based searches globally to develop periodic CI newsletters containing updates on competitor activities and developments around selected product categories. The project involved delivering newsletters weekly and bimonthly within the agreed parameters. Genpact provides this service across 10 geographies/languages and across 12 product categories—delivering incredible value for actionable intelligence.
For a Market-Leading Healthcare and Medical Device Player
Genpact provided an advanced competitive intelligence solution to a market-leading healthcare company on the cusp of launching a breakthrough product—the business need was to size the market, understand competitive positioning, and estimate growth rates across geographies. Our solution involved a mix of market segmentation and exhaustive competitive knowledge and provided “what- if” scenarios to identify the best and worst case possibilities. Genpact identified target segments with distinct impact on ROI of spends and predicted the adoption rates for each of those segments.