For this multinational pharmaceutical company, coronavirus has created new urgency and accelerated pipelines, with a need to preserve thorough and comprehensive peer analysis.
The organization’s competitive intelligence team of analysts and forecasters seek insights related to the coronavirus’s impact on their industry, while also juggling cyclical ad hoc requests as well as their usual projects. Ad hoc requests around earnings and spring medical meetings eat up hours of time and can contribute to a workflow that is more reactive than strategic. Prior to COVID lockdown, the team valued in-person conference room huddles during peer earnings calls to dissect the nuances of calls. Working remotely, the team’s director says, has even further exacerbated the historical challenges related to the decentralized nature of the business. With the lack of seamless communication between teams, things got lost in email and oftentimes, the team’s existing body of research was underutilized by the rest of the organization.
AlphaSense saved searches and alerts give us the ability to have the answers built in. We start to know what people are going to ask before the requests come in, and we have the answers ready.”
Director of Competitive Intelligence
The team is valuing seamless collaboration within AlphaSense, especially during the new remote working environment. Using AlphaSense workflow tools like Notebook, the CI team aggregates insights from various peer documents, organizes them in a single, searchable document, and downloads clean deliverables to circulate with the rest of the org. Further streamlining their workflow, the team also relies on topic clustering NLP technology for Coronavirus related searches. These expanded insights on COVID-19, beyond their typical peer and industry universe, help “put the pieces together” and inform innovative ideas which they surface to executive leadership.
These improvements to their research process have resulted in significant time savings. “The biggest time savings is with regards to managing ad hoc requests,” the director says. “AlphaSense saved searches and alerts give us the ability to have the answers built in. We start to know what people are going to ask before the requests come in, and we have the answers ready.”
In re-prioritizing efforts away from reactive digging, the team is able to spend time developing intelligence by going deeper into peer commentary to uncover what’s changed and how that impacts their company strategy. Their leader maintains that during unprecedented times, AlphaSense is an essential investment to provide insight into the unknown and access comprehensive data in order to make better decisions, all while saving time. “You need a market intelligence tool to ensure you don’t fly blind, but also ensure you fly accurately,” he says. “I have AlphaSense running all day from the moment I get started.”
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