Magazine Article | May 13, 2011

The Story Behind Outsourcing Insights And Bio Data Points

Source: Life Science Leader
Rob Wright author page

By Rob Wright, Chief Editor, Life Science Leader
Follow Me On Twitter @RfwrightLSL

In February, we added two new features to Life Science Leader, “Ask the Board” and “Leadership Lessons.” These were added to provide readers with some quick, valuable, and actionable industry and leadership insight. Well, we figured, why stop there? What else could be added to benefit our readers? Our answer was “Outsourcing Insights” and “Bio Data Points.” Here’s the story behind how these came about.

On February 17, I noticed a posting on “The Life Science Executive Exchange” LinkedIn group by Victor Coker, director of business intelligence at Nice Insight. The post described a substantial investment in an outsourcing survey. Intrigued, I picked up the phone. In Life Science Leader’s recent survey of our readers, when asked what topics they would like to see covered, many suggested those pertaining to outsourcing. Nice Insight happened to be gathering outsourcing data concerning the pharmaceutical and biotech industries. It seemed to be a good match.

The decision for the parent company of Nice Insight to invest $2.5 million dollars in conducting a survey and launching a new business platform was prompted by a customer. Paul Sidhu with DSM wanted to know how his company was perceived by the industry. Other than opinion and hearsay, there was not a lot of data available on the level of customer awareness (CA) and customer perception (CP) as to how contract research and manufacturing services (CRAMS) are perceived by their customers. By partnering with Nice Insight and creating “Outsourcing Insights,” Life Science Leader is recognizing the opportunity to share information our readers want.

Now, about “Bio Data Points.” At the Interphex show in New York this year, we shared the story about “Outsouring Insights” with Eric Langer, president of BioPlan Associates. He thought his company could produce something that would complement this new section very nicely. So, instead of adding one new section, we opted for two. By partnering with Nice Insight and BioPlan Associates, Life Science Leader is recognizing the opportunity to share information our readers want.

We hope “Outsourcing Insights” and “Bio Data Points” provide you with additional understanding of the marketplace. The data utilized for these features is current. Life Science Leader will publish monthly industry trends, forecasts, and other interesting insights uncovered through the analysis of this data. If you would like to learn more about these organizations, you can go to their websites at niceinsight.com or bioplanassociates.com. I look forward to hearing feedback on what you think. Feel free to drop me an email, or pick up the phone and give me a call (814) 897-9000 x140.