2014

Maximizing the Effectiveness of Market Research Groups through Outsourcing and Automation

CHAPEL HILL, N.C., Jan. 17, 2013 /PRNewswire/ -- Market research executives in the healthcare sector need to continually evaluate the need for outsourced personnel. In the dynamic biopharmaceutical marketplace, cost-saving tactics such as outsourcing and automation can enhance efficiency and maintain performance across different functions, including market research.

A recent study by research and consulting firm Best Practices, LLC found that while the need for externally contracted labor varies widely among biopharma companies, outsourcing personnel for primary research is the most common need among market research leaders. A majority of companies in the study also have been successful in implementing the use of automation into their market research operation.

"Market Research Efficiency Benchmark: Using External Personnel and Automation to Maximize Effectiveness" is a new report that pinpoints innovative approaches and strategies for increasing efficiency through the use of automation and outsourced labor in market research groups.

Issues addressed in the study include:

  • Maximizing efficiency and maintaining a lean internal headcount in the face of increased workload
  • Automate market research processes for efficient report generation and better knowledge management
  • Methods used to implement and manage automated systems

The research also examines best practices in relation to the type and quantity of outsourcing used by market research leaders at leading biopharmaceutical companies.

More than 50% of all respondents predicted no change or even reductions in internal staffing levels in the next two years. Leaders burdened with headcount constraints can gain critical insights from this study that will help them maintain an effective, efficient market research group through the use of outsourced labor and automation.

This benchmarking research project drew participation from 22 market research executives from 19 different pharmaceutical and medical device companies. In addition, deep-dive interviews were conducted with seven participating industry veterans to gather additional insights.

For more information on this study or other recent primary research studies, contact us at 919.403.0251 or at bestpractices@best-in-class.com.

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.

SOURCE Best Practices, LLC



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