ScienceDirect. Survey Framework for Understanding Value of Service
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1 1 ScienceDirect Survey Framework for Understanding Value of Service
2 2 How we strive to help you This guide strives to provide our customers with framework to help identify the organizational value of having access to ScienceDirect. For many of our customers, building a successful business case to defend the purchase and renewal of our service requires them to make a strong connection between the key R&D goals that their researchers are striving towards and the information used to solve problems, answer questions that arose along their journey. The following slides present a selection of questions that our customers have shared with us as examples used to understand and evaluate how their information services contribute to the success of their R&D organization.
3 3 Our customers tell us that ScienceDirect addresses 5 key corporate R&D challenges Enabling ground breaking discoveries Supporting researcher journey to best content Advance or stop research projects with confidence Save costs on projects shut down early due to experimental dead ends Improve competitiveness by bringing successful projects to market earlier Enable new ideas through deep, broad, and interdisciplinary insights Save time on access to knowledge Increase researcher satisfaction by eliminating turnaways and delivering content-rich full-text articles Avoiding unnecessary spend Building intellectual property Lower cost of purchasing articles Ensure regulatory compliance Save outsourcing/external consultancy costs Increase patent output Mitigating risk around acquiring / licensing (drugs, technology, etc.) Understand the science behind the target and better evaluate the methods undertaken prior to acquisition/licensing
4 4 Enabling Groundbreaking Discoveries ScienceDirect information supports the decision-making process in the early stages of a project, including whether to advance or stop the project. Research cost savings when experimental dead ends are recognized early Improved competitiveness when projects are brought to market faster Discovery of unexpected or overlooked insights, especially in literature from other disciplines
5 5 Enabling Groundbreaking Discoveries Question to consider for your organization: 1. How do we measure innovation or R&D progress? 2. What is the process for ideation and commercial feasibility determination? 3. What proof points and/or information is required before reaching a go or no-go decision? 4. What are the financial implications/costs of not making this decision in time? 5. Do we have any examples of projects that were continued longer than necessary because of lack of appropriate information pointing to commercial dead-end? How much did this cost us? 6. How many researchers do literature searches during the initial period in order to identify good commercial ideas? 7. Has a project ever changed direction during that period? Was the change in direction due to information found in the literature? 8. How has information made available to you contribution to the ideation/early project decisionmaking process? 9. Were you able to make project decisions sooner, or, in advance of key project milestones? 10. What did this mean for our productivity and/or where we able to re-direct R&D budget to more commercially sound projects that were more successful?
6 6 Supporting researcher journey to best content ScienceDirect continually invests in our platform to ensure that peer-reviewed, scientific information can be accessed in the most efficient manner possible. Saved time and money on access to knowledge Increased researcher satisfaction by eliminating turnaways Increased researcher confidence in making fast decisions
7 7 Supporting researcher journey to best content Questions to consider for your organization: 1. How important is meeting project milestones for our R&D team? 2. What are the potential R&D cost implications when milestones are missed or extended? 3. What are the benefits of being able to save our researchers time? Do time savings have a positive impact on the metrics being used to evaluate our R&D team? 4. What is the procedure for requesting information where no subscription exists? 5. How long does the full process take from (and including) request initiation to delivery of the document? 6. What alternative methods do researchers take to obtain information where no subscription exists? How much time do these alternatives take away from researcher tasks? 7. In the case that researchers are asked to make time-sensitive decisions on commercial projects where no information exists, what steps are taken to make informed decisions? 8. How much do these alternative routes cost the organization? 9. Is literature searching outsourced to 3 rd parties when time-sensitive information does not exist? How much has this cost in the past? 10. What is the cost of delays caused by projects that are kept running due to the lack of information confirming viability?
8 8 Avoiding Unnecessary Spending Fast, easy access to the trusted content available on ScienceDirect supports the avoidance of unnecessary information spend. Reduce R&D cost by not duplicating experimental work already performed by other researchers Avoid experimental dead-ends Improve researcher productivity Eliminate duplicate transactional purchases made by multiple researchers Avoid costs associated with regulatory compliance issues Avoid outsourcing costs to third parties due to more decisionmaking confidence in-house
9 9 Avoiding Unnecessary Spending Questions to consider for your organization: 1. How important are reductions in R&D spend to the organization? 2. Have members of the R&D team been able to avoid potentially costly experiments or trials based on information found in scientific literature? 3. If so, what did this mean in terms of saved R&D resources and/or budget? 4. Have researchers been able to identify dead-ends through information available? How did this impact our productivity? 5. How do we ensure compliance with regulations? 6. How do we ensure that we have a complete understanding of the science and/or technology being developed? 7. For some customers, swift access to the accurate pdf that can be time/date stamped is critical for compliance missing out on this, or basing decisions on an inaccurately sourced article, or having to wait for an article to come through while making a claim can be costly. Is this something an area of concern for our R&D team? 8. What are the potential costs of not complying or not being able to fully defend that there was thorough understanding of the science behind a new technology? 9. In case the information required to make timely decisions is missing, what alternative steps are taken? What are the costs of those possible routes? How often have we taken those routes in the past?
10 10 Building Intellectual Property Often for our customers, building Intellectual Property is an important part of the R&D strategy. These organizations may use patent output (i.e., applications filed, granted patents) as a measure of the R&D organizations success. ScienceDirect contributes to this process in a number of ways. Understand state-of-the-art technology so that only projects that are deemed truly novel and innovative are prioritized Ensure speedy patent applications as many patent authorities use a first-to-patent priority system, through efficient access to the latest science Support patent applications with support reference to demonstrate novelty a key patent-grant component
11 11 Building Intellectual Property Questions to consider for your organization: 1. How important are patents and/or building a patent portfolio to your organization? 2. Is patenting and/or the process of being granted a patent a performance measure or explicit R&D objective in your company? 3. If patenting is an important objective of the organization, how is R&D department s contribution measured? 4. Do researchers and/or research management goaled on elements of the patenting application and/or granting process? 5. Is patenting an implicit measure of success? Do researchers that have more patents associated with their name have more likelihood of advancing? 6. What is the revenue-generating potential of a technology or product sold by your organization that is patented? How does this compare with non-patentable products sold?
12 12 Mitigating risk around acquisitions and licensing The decision to acquire or license patented technology from another organization is fraught with a high risk of failure and costs. This risk can be mitigated by developing a thorough understanding of the state-of-technology, which is possible to find in scientific literature. Understand the science behind the target Better evaluate the methods undertaken prior to acquisition or licensing Reduce external consultancy costs
13 13 Mitigating risk around acquisitions and licensing Questions to consider for your organization: 1. What are your processes for assessing whether to acquire or license a new drug candidate or technology? 2. What is the size of the team typically pulled together for this process? Which domains or job types do they typically cover? 3. What steps are taken specifically to gain an understanding of the science behind the particular drug candidate or technology? Is there a defined time period for this part of the process? 4. What has been the cost associated with a bad acquisition and/or licensing of a technology that did not meet expectations? 5. Have we outsourced due diligence projects in the past that could have been done in-house with access to the right information sources? How much was spent for those efforts?
14 14 Thank You! We hope that this framework has been of value and supports your efforts into understanding the financial value information services has within your organization.
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