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October 29, 2021

Getting started with insights management

The first step is changing the way you think about the insight-gathering process.
getting started with insights management

Pharmaceutical and medical device companies have all adapted to new, technology-enabled ways of working. Many organizations are moving forward with technology at the center of their strategic plans for 2022 and beyond. For life science teams, this might mean implementing an insights management platform. And while new technology can prompt visions of extra costs, intensive training, and long ROI cycles, it doesn’t have to be that way. Getting started with insights management can be much less disruptive than you might think.

Feeling tech-shy?

The pandemic drove many organizations to accelerate their plans for digital transformation. But not everything was a complete success. Consider the example of Zoom fatigue, which prompted some companies to go meeting-free one day a week or time-limit the use of such platforms. Even when the cameras stayed on, life science teams found that participation varied or dropped off, and teams found themselves with just as many meetings, but fewer insights.

These breakdowns threaten operations, and life science companies are still eager to adopt technology that ensures business continuity. But having learned under duress what worked and what fell short, companies are now more strategic about choosing technology that aligns with how they work and what their goals are.

Change how you think about insights

To do this, life science teams need to shift their view of insight-gathering from separate, tactical activities to a single strategic process that drives value to the organization. Insights management means considering all aspects of insight-gathering – from KOL identification through engagement and the decision stage – as one process with one solution. When you think about it in these terms, it’s easier to understand how a technology platform can solve the problem.

Practically speaking, this shift in perspective has been due for a while. Historically, life science insights were gathered from key opinion leaders by medical science liaisons. Today, it’s a broader process that involves building a scientific narrative over time, with input from doctors, payers, patients, peers, and other stakeholders. Technology can help by making it easier to find the people who exert influence in specific disease communities and engaging them no matter where they are or how busy their schedule is.

Understand what’s creating the need for better insights management

During the early months of the pandemic, pharmaceutical and medical device companies felt pressure from two competing forces: the business disruption felt by every industry, plus the need to develop a vaccine, life-saving therapies, and desperately needed protective equipment and medical supplies.

The uncertainty, time pressure, and restricted ability to collaborate in person showed most life science companies a version of the future that wasn’t very appealing – one in which upheaval and disruption compromise their ability to carry out critical work. In a bid to overcome potential uncertainty in the months and years to come, life science teams are looking for ways to enable a more efficient way of working.

By changing their perspective about what insights management can be, life science teams are already preparing themselves to transform it within their own organization. To learn more about how to make insight-gathering into a strategic business priority, download our new white paper, “Best Practice Guide: Transforming Insights into Business Value.”

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