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AUTHOR(S):

Brian Smith is a Research Fellow at Cranfield School of Management and runs PragMedic, a specialist consultancy that helps companies
create strong strategies in medical markets.

Hugh Wilson is Senior Research Fellow and Director of the Customer Management Forum at Cranfield School of Management.

Moira Clark is Professor of Marketing Strategy at Henley Management College

INTRODUCTION

It has become a truism that the ability to learn is an organisation's only sustainable source of competitive advantage. In practice, this means the capability of translating data about customers into customer preference and hence shareholder value. Firms with superior data-to-value capability understand both the stages in this process and the organisational actions that determine their efficacy. Our research-based understanding of how firms achieve such superior capability is extensive and well-founded, but scattered and fragmented across various academic disciplines. This paper summarises this understanding of the data-to-value process and identifies 12 rules for creating and using customer insight.

ABOUT THE JOURNAL Journal of Medical Marketing ISSN: 1745-7904 The Journal of Medical Marketing is guided by its respected Editor Dr Leonard Lerer (INSEAD) and an international Editorial Board of leading academics and senior practitioners from the medical industry. The Journal aims to facilitate excellence in marketing and strategic management in the pharmaceutical, medical device, diagnostic and other markets in which the customer is a clinician or related professional. Every quarter the Journal contains a range of peer-reviewed papers, including both practitioner studies and leading edge academic research, covering the breadth of the industry. The Journal also provides expert analysis of the changes taking place in the global medical market, and reviews the latest market research reports available in all three industry sectors.