Also known as Market Intelligence, it is the concept of capturing and using information and data about factors relevant to organizations in order to overcome high competitiveness. Currently, it is one of the most important things for those who work or want to work in the digital market; however, those who think that this is a new thing are mistaken.
The term was first used in the 1950s by
researcher Hans Peter Luhn in his article “ A Business ecuador phone number list Intelligence System ”. Since then, major players have been evaluating information about competitors, the market, trends, customers and sales in order to aid decision-making, improve sales, support the growth of a given product line or even the company. With the advent of the information age and greater data processing capacity, from the 1980s onwards, the concept became popular and gained even more strength.
Seeking to direct the strategic actions
that will be adopted and in order to reach a what has google changed in its content policies for business profile posts? pre-determined target audience, the information used can be qualitative or quantitative, in addition to being divided into primary or secondary.
1) Primary Data: prospected and collected for a Market Intelligence study in question, generally obtained through interviews and questionnaires in which the objective is to find out the public’s opinion.
2) Secondary Data: information that is available to us due to other research. This is data that already exists in articles, published research, books, newspapers and studies.
The idea is to use all types of data to identify
opportunities, anticipate trends or predict mobile lead risks. In short, Market Intelligence gives entrepreneurs the possibility of not basing their business on a reaction model. With it, it is possible to be one step ahead of other brands and have a strategy focused on action.
How to start?
If your intention is to use information and data to strengthen your brand. Or to boost sales of a product or service. It is not enough to simply collect a large amount of data ( big data ); you need to understand what to do with this information. An important step in this process is to identify the sources of data generation within the company, for example: customer support, billing, finance, point of sale, production and even social networks.
After that, it is necessary to efficiently manage these indicators so that the collection is accurate. With the data collected, the next step is to filter the information that is relevant for the company to achieve its goals. This way, it will be easier to outline market intelligence actions in order to correct flaws, predict problems or make more sales.
During times of crisis
many inefficient companies Market Intelligence end up going bankrupt, while those that are better prepared survive and become even stronger. The crisis acts as a filter, which is why Market Intelligence can be a company’s differentiator. It can show the best direction to take, in addition to indicating the positioning of competitors.
It is worth remembering that Market Intelligence
cannot be satisfied with a single source of information. Therefore, seeking alternative sources is extremely important for the strategy to be more efficient. The team working with the information cannot judge before gathering the data, as no information is dispensable. In addition, it is essential to check the sources of information before using them as a basis for decision-making. It is also important to emphasize that both data. Collection and analysis need to be constant for the practice to be complete.
