Competitive Intelligence for Leading Healthcare Companies

Competitive Intelligence in Healthcare

Competitive intelligence is a must for every healthcare company wanting to be on the leading edge. AlphaSense is the #1 market intelligence platform for maximizing your potential and outpacing your competition.

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Why AlphaSense is the Leading Competitive Intelligence Tool For Life Sciences

AlphaSense is a leading provider of competitive intelligence, including 10,000+ high-quality content sources from hundreds of thousands of public companies and over 1.4 million private companies—all in a single platform.

Recently named a leader in the Forrester Wave™: Market and Competitive Intelligence Platforms, Q2 2023 report. Our platform is also consistently ranked as an industry leader by G2 and TrustRadius, and was recently recognized as one of the top 50 AI companies by Forbes.

Competitive strategists and decision makers in the healthcare sector have access to exclusive competitive data ordinarily found in disparate locations and often behind expensive paywalls. With AlphaSense, healthcare organizations can conduct comprehensive quantitative and qualitative research that results in smarter, more confident decision-making.

AlphaSense also saves you hours of research time by centralizing the insights you need and delivering them to you with intelligent, AI-based smart search technology—maximizing confidence and minimizing informational blind spots. Automated alerts and customized watchlists ensure you never miss an update from the companies and industries you most care about. Advanced filtering features help you easily navigate through the specific types of content you need for more granular research.

These features and more are why leading corporations from the healthcare and pharmaceutical industries and beyond trust AlphaSense to gain their competitive edge.

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Components of Effective Competitive Intelligence in Healthcare

Competitor Analysis

To perform competitive analysis, you need to study your competitor’s business in order to understand their strengths and weaknesses. This includes looking at their product offerings, pricing strategies, marketing campaigns, R&D, and operations.

Competitor analysis is easy to do in the AlphaSense platform. Simply search for your competitor on the platform and explore the company tearsheet, which provides information on market cap, revenue, earnings transcripts, segments, and fundamentals & estimates.

Competitor Benchmarking

Competitive benchmarking is the process of comparing your own business against your competitors in order to identify potential areas of improvement or to see how you stack up against your peers.

In the AlphaSense platform, you can create a watchlist for all your competitors and set real-time alerts to always stay in the know on company updates. You can then establish the specific topics or trends that you would like to monitor across your competitive peer set. The Trending Topics module in the dashboard will automatically show the most important, talked-about phrases found across earnings calls, conferences, and company presentations.

Competitive Landscape Analysis

A competitive landscape analysis is a broad overview of the competitive environment in which your business operates. This includes industry trends, macroeconomic factors, and regulatory changes. For companies in the healthcare industry in particular, maintaining a competitive edge requires staying aware of regulatory activities and FDA drug approvals.

Yet, regulatory sites are notoriously tedious and time-consuming to navigate, and you could be spending hours of time on manually searching, sorting through, and filtering the data—time that would be better spent on analysis and strategy.

AlphaSense speeds up and streamlines this entire process with our aggregated library of regulatory content from publications like ClinicalTrials.gov, FDA, EMA, and PubMed, as well as with our AI search technology which works to filter out the noise and allow you to extract only the most relevant insights.

Competitor Monitoring

Competitor monitoring is the ongoing process of tracking your competitor’s activities and measuring their impact on your business. You need to be the first to know when a competitor’s drug is approved or recalled, as well as how your competitors are responding to market-moving events.

By building watchlists for competitor companies on your AlphaSense dashboard, you will always be the first to know any new developments happening at those companies. Our AI company recognition feature enables you to easily extract data such as market share, pricing benchmarks, and company performance for each company of interest. Additionally, our newest generative AI feature, Smart Summaries, instantly summarizes your competitors’ earnings transcripts so you can shave time off earnings analysis.

Frequently Asked Questions

How AlphaSense Takes Your Competitive Intelligence Further

Leading healthcare and pharma companies trust AlphaSense as their all-in-one market intelligence tool that helps them maximize efficiency, keep on pace with innovation, and stay on the leading edge.

Here’s what sets AlphaSense apart from other market intelligence solutions:

Aggregated Market Research

AlphaSense houses over 10,000 trusted content sources, including but not limited to:

Company documents including SEC and global filings, earnings transcripts, company presentations, press releases, event transcripts, and more
Industry research from the world’s top analysts
Unique industry expert perspectives
News outlets
Company and competitor websites
Government and regulatory data

This includes two content sets exclusive to AlphaSense:

Wall Street Insights® – a leading collection of broker research covering global sector themes, industries, and companies from 1,000 sell-side and independent firms
AlphaSense Expert Insights – 35,000+ transcripts of one-on-one calls with industry experts, customers, professionals, competitors, and former and current executives, with the ability to conduct your own 1:1 expert calls for less

Our content includes everything you need to monitor clinical pipelines, track new developments and competitor moves, and assess deal making opportunities.

Semantic Search

With our AI search technology, you no longer have to manually CTRL-F through fragmented research documents and reports. Instead, our AI automatically recognizes what you are looking for and surfaces results that directly match your search intent—while filtering out the excess noise. This means you can shave hours of time off your research and be more confident in the accuracy and comprehensiveness of your results.

Our patented AI search feature, Smart Synonyms™, identifies phrases and keywords that are meaningfully related (for example, searching “MedTech” will also surface results for “medical technology” and “healthcare technology”) to provide relevant and useful data for your search query, mitigating the risk of missing critical insights.

Sentiment Analysis

Our sentiment analysis and natural language processing (NLP) technology analyzes how the market feels about a given company, industry, or topic and color-codes positive and negative sentiment for easy recognition as you browse documents and search results. These AI features work in seconds, saving hours previously spent combing through dozens of earnings reports.

Sentiment analysis is instrumental in earnings research, as it uncovers subtle shifts in a competing company’s messaging on relevant topics and themes.

Generative AI

Unlike other generative AI tools that are focused on consumer users and trained on publicly available content across the web, AlphaSense takes an entirely different approach. Our Smart Summaries feature leverages our 10+ years of AI tech development and draws from a curated collection of high-quality business content.

With Smart Summaries, you can glean instant earnings insights—reducing time spent on research during earnings season, quickly capture company outlook—accessing Wall Street’s perspective on competitive landscape and reasoning behind upgrades and downgrades, and generate an expert-approved SWOT analysis—straight from former competitors, partners, and employees.

Frequently Asked Questions

Why is competitive intelligence important for healthcare organizations?

Competitive intelligence plays a crucial role in helping healthcare organizations stay ahead in a rapidly evolving industry. Ever since the COVID-19 pandemic, healthcare—and the pharmaceutical industry, in particular—has undergone a massive shift. Governments are pouring billions of dollars into research initiatives, new disruptors are consistently trying to enter the space, and innovation is booming like never before.

Relying on a market intelligence platform like AlphaSense is key to staying on top of these market movements and taking a more proactive approach to research. By monitoring competitors, market trends, and emerging technologies, organizations can identify new opportunities, anticipate changes, make strategic decisions, and adapt their strategies to maintain a competitive advantage.

What kind of information can be gathered through competitive intelligence?

Competitive intelligence yields a wide range of information and key insights, including but not limited to:

Competitors’ market share, product offerings, pricing strategies, and marketing tactics
Industry trends, regulations, and policy changes that may impact the market
Emerging technologies, research and development activities, and innovations in healthcare
Customer preferences, needs, and expectations
Partnerships, collaborations, and mergers and acquisitions within the industry

How can healthcare organizations gather competitive intelligence?

Healthcare organizations can gather competitive intelligence through various methods, such as:

Monitoring competitors’ websites, social media channels, and press releases
Participating in industry conferences, trade shows, and professional networks
Analyzing market research reports, industry publications, and academic studies
Conducting surveys, interviews, and focus groups with customers and industry experts

Utilizing online tools and software (such as the AlphaSense platform) for data analytics and market research

What are the key benefits of implementing competitive intelligence in healthcare?

Implementing competitive intelligence can offer several benefits, including:

Identifying new business opportunities and potential areas for growth
Understanding customers’ needs and preferences to incorporate those into product development
Gaining insight into peers’ R&D spend and strategic priorities to make more proactive decisions
Anticipating market changes and adapting business and marketing strategies accordingly
Monitoring and analyzing drug pipelines to get ahead of industry trends
Minimizing risks by keeping track of competitors’ activities and market dynamics

What are some common challenges in implementing competitive intelligence in healthcare?

Implementing competitive intelligence in healthcare can pose certain challenges, such as:

Gathering accurate and reliable data from various sources
Ensuring data privacy and security while collecting and analyzing information
Analyzing and interpreting complex market dynamics and trends
Allocating sufficient resources, both human and technological, for effective intelligence gathering

Luckily with AlphaSense, these challenges are easily overcome. All of the content aggregated in the platform is accurate, reliable, and vetted. The platform saves you resources by speeding up time to insight without ever sacrificing comprehensiveness. Our AI functionalities make it easy to spot and analyze complex market trends. And AlphaSense is always fully transparent about our data privacy and security practices.

Additionally, our expert transcript library has a dedicated compliance team that diligently reviews all calls to ensure that no material or non-public information is published, and all experts are vetted for conflicts.

How can competitive intelligence help healthcare companies differentiate themselves from competitors?

Competitive intelligence enables healthcare organizations to differentiate themselves by:

Understanding competitors’ strengths and weaknesses to emphasize unique value propositions
Identifying gaps in the market and developing innovative solutions
Monitoring customer feedback and adapting services to maximize customer satisfaction
Anticipating market trends and staying ahead of emerging technologies
Building strategic partnerships and collaborations to enhance offerings

How often should healthcare organizations update their competitive intelligence?

Competitive intelligence is not a one and done deal. Healthcare organizations should regularly monitor and update their competitive intelligence to stay abreast of industry changes, emerging trends, and competitors’ strategies. Particularly in the rapidly evolving healthcare and pharmaceutical spaces, making sure that your competitive intelligence is as current and comprehensive as possible is key to setting and reaching smart strategic goals.

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See firsthand how our platform will level up your competitive strategy and transform your market intelligence process. Join the ranks of leading healthcare companies who are already using AlphaSense to outpace the competition.

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