How do you handle Regulatory Intelligence? 3 reasons to automate it
Performing any kind of monitoring is a task assignment that almost everyone struggle with. We all know that it is extremely important to stay up to date with changing laws and regulations. You want to keep up with standards, common specifications, and news, and to monitor competitor products and your own products. But it’s not only important for compliance reasons. Design and development, and business decision making in general can greatly benefit from regulatory intelligence.
Challenge is that most organizations are trying to manually perform this research. It is time to stop that and start automating the work. Why? We give you 3 obvious reasons.
1. The risk of doing the job twice
When you do manual research in a team or organization, it is a struggle to avoid overlapping. It happens all the time that you and your colleagues do the exact same searches with the same keywords on the same sources. And the findings? Yes, they will probably also be the same.
Double job = twice as much time spent.
2. Handling of irrelevant content
Searching on Google and other search services will give you thousands and thousands of results. Results will easily be very broad and most of the content will not be relevant to you. Handling irrelevant content if not the most fun and effective task to do, and you certainly want to spend that time on other, more important tasks. There is also not only one place to search within, as there are lots of sources, such as databases, forums, media news and social media to keep track of. It quickly becomes a large task with so many different sources and articles to handle.
3. Missing out on important insights and updates
The effect of handling a lot of data and content is that you can easily miss out on important insights, news, updates and mentions. That’s just the human factor, but it can be solved easily by automating the process of content monitoring. By doing that, you will be able to see the results of your searches directly (same day as it is published) and can take necessary actions in a timely manner. Missing updates and mentions of your products or company can have consequences and should be prevented. The types of content that need to be taken care of right away can be incident reports, negative feedback and complaints about your products.
Let’s leave manual research in the past
So why stay in the past? Spend your time more wisely.