Project at a Glance
Industry: Chemical
Company Size: $25 billion
- Regulatory changes
- Evolving customer demand
- Partnerships entail risky, upfront R&D investments
The Challenge
In the specialty chemicals sector, where clients demand customized, novel solutions that entail upfront investments in R&D, business success often hinges on having productive partnerships. A chemical manufacturer discovered that blind spots in its markets were undermining its business partnerships. Despite collaboration with business partners in each market, these efforts were hampered by limited insights into public policy changes and evolving market demands.
The manufacturer frequently found itself guessing at critical junctures. Blind spots led to risky R&D expenditures and missed opportunities:
- Sudden Market Shifts: Project decisions relied solely on partnership conversations. Lacking a holistic market view, the company was caught off-guard by unexpected market shifts and government policy changes.
- High Business Risk: R&D investments could fail if they didn’t align with the actual market conditions and underlying drivers of demands, resulting in high sunk costs and damaged relationships.
- Inefficient Collaboration: Partnership discussions often lacked the data-driven insights needed to assess risks upfront and plan for future market changes.
The company sought to eliminate guesswork and fortify its reputation as a reliable business partner in its sector.
The Solution
By integrating Industry Intelligence Inc’s customizable dashboard, the manufacturer gained a 360-degree view of its market drivers. This comprehensive approach not only improved efficiency but also strengthened partner relationships, positioning the company as a trusted, forward-thinking collaborator in the chemical industry.
- Comprehensive Stakeholder Intelligence: Visibility into all stakeholders via Supplier/IQ and Customer/Insight facilitates better operational planning.
- Discovery of Unfilled Demand: Competitive/Edge reveals competitor weaknesses and unmet demands, informing partnership conversations for differentiation and value.
- Proactive Legislative Monitoring: AI-assisted Legislation Monitor tracks policy changes, enabling timely adjustments and strategic planning to avoid compliance surprises.
- Industry-Relevant News Curation: Curated, customized dashboard filters noise, ensuring senior leaders focus on high-priority insights.
- Instant Sharing via MS Teams App: Embedded chat functionality allows teams to share insights, brainstorm solutions, and accelerate decision-making.
The Benefits
More Impactful Decisions: Teams gain 360-degree market visibility, leading to fewer costly missteps. 10-15% reduction in R&D waste due to initiatives aligned with real market needs. Accelerated innovation with 20-30% faster cross-functional collaboration and more agile product launches.
Regulatory Readiness & Lower Legal Risk: Early detection of relevant legislation prevents compliance issues, lowering legal risk and improving brand reputation. This results in annual savings of $500K-$2M by preventing last-minute changes, penalties, and recalls.
Stronger Partnership Revenues: Data sharing promotes transparency and trust, leading to aligned strategic goals, tighter collaborations and longer-term partnerships, which result in revenue gains of $5M-$10M per market from new and expanded deals.