Market intelligence: use data to your advantage
Posted: Sun Dec 22, 2024 7:05 am
To stand out in an increasingly competitive market, it is essential to use market intelligence based on reliable data.
According to the Untapped Data Research study , 59% of Brazilian company managers consulted still do not apply data-driven strategies in their businesses.
As a result, they fail to identify trends, opportunities and challenges, preventing more informed and assertive strategic decisions from being made.
In this article, we will detail how companies can use market intelligence to gain valuable insights and stand out in a competitive environment, regardless of the segment. Check it out!
After all, what is market intelligence?
When we talk about Market Intelligence, which is also known as competitive intelligence, we are referring to a systematic process of collecting, analyzing and interpreting relevant data about a company's market and competition.
This process aims to guide decision-making in a more strategic way, based on data that includes:
Market trends;
Consumer preferences;
Competitor activities;
Regulatory changes and other important variables that may affect a company's position in the market.
Market intelligence involves collecting data from a variety of sources, including market research, analyzing internal company data, and monitoring competitor activities.
Through the use of data analytics and artificial intelligence tools , this data is then analyzed and interpreted by market intelligence professionals to identify potential trends, opportunities and threats.
It is important to note that market intelligence is not just about collecting random information, but rather developing a structured and systematic process to capture useful and relevant information and transform it into actionable insights.
This requires collaboration across multiple areas of the company, including sales, marketing, finance and operations, as well as the use of advanced data analytics tools and technologies.
What are the advantages of investing in market intelligence?
Market intelligence is an important part of the business strategy of many companies, especially those operating in highly competitive and dynamic markets.
Based on data-driven insights, managers can make strategic decisions and take advantage of benefits, such as those listed below. See:
Better understanding of the market
Companies can gain a more complete understanding russian phone numbers of the market in which they operate, including consumer preferences, competitor behavior, and other important variables.
This way, companies can adjust their strategies to adapt to market changes and take advantage of emerging opportunities.
Identifying growth opportunities
Market intelligence enables companies to identify growth opportunities, such as new markets to explore, unserved market niches, or unmet customer needs.
This identification of opportunity can lead to new products or services, opening of new business units or expansion into new geographic markets.
According to the Untapped Data Research study , 59% of Brazilian company managers consulted still do not apply data-driven strategies in their businesses.
As a result, they fail to identify trends, opportunities and challenges, preventing more informed and assertive strategic decisions from being made.
In this article, we will detail how companies can use market intelligence to gain valuable insights and stand out in a competitive environment, regardless of the segment. Check it out!
After all, what is market intelligence?
When we talk about Market Intelligence, which is also known as competitive intelligence, we are referring to a systematic process of collecting, analyzing and interpreting relevant data about a company's market and competition.
This process aims to guide decision-making in a more strategic way, based on data that includes:
Market trends;
Consumer preferences;
Competitor activities;
Regulatory changes and other important variables that may affect a company's position in the market.
Market intelligence involves collecting data from a variety of sources, including market research, analyzing internal company data, and monitoring competitor activities.
Through the use of data analytics and artificial intelligence tools , this data is then analyzed and interpreted by market intelligence professionals to identify potential trends, opportunities and threats.
It is important to note that market intelligence is not just about collecting random information, but rather developing a structured and systematic process to capture useful and relevant information and transform it into actionable insights.
This requires collaboration across multiple areas of the company, including sales, marketing, finance and operations, as well as the use of advanced data analytics tools and technologies.
What are the advantages of investing in market intelligence?
Market intelligence is an important part of the business strategy of many companies, especially those operating in highly competitive and dynamic markets.
Based on data-driven insights, managers can make strategic decisions and take advantage of benefits, such as those listed below. See:
Better understanding of the market
Companies can gain a more complete understanding russian phone numbers of the market in which they operate, including consumer preferences, competitor behavior, and other important variables.
This way, companies can adjust their strategies to adapt to market changes and take advantage of emerging opportunities.
Identifying growth opportunities
Market intelligence enables companies to identify growth opportunities, such as new markets to explore, unserved market niches, or unmet customer needs.
This identification of opportunity can lead to new products or services, opening of new business units or expansion into new geographic markets.