Best Practices in Delivering Maximum Strategic Value with Market Monitoring
Global Intelligence Alliance (GIA), a global strategic market intelligence and advisory group, launched its fifth white paper for 2010 on the topic of “Delivering Maximum Strategic Value with Market Monitoring”
A market monitoring system is one that continuously collects information about the competitive landscape, processes and analyzes that information and eventually feeds it into the decision-making processes in a company, so that well-informed decisions can be made. Companies however, often find it challenging to implement market monitoring processes that deliver actionable and insightful intelligence. Moreover, the rapid growth of online social interaction has also opened up new possibilities in market monitoring.
The GIA White Paper, “Delivering Maximum Strategic Value with Market Monitoring”, presents ideas on how to tackle that challenge and outlines ways to extend social media interaction into the process, including:
- New kinds of information sources (social media websites)
- Market signals (field signals) coming directly from end-users, acting as a kind of feedback loop
- Collaboration in the form of discussion about market signals
The GIA White Paper argues that a clear distinction needs to be made about whether information delivered by market monitoring is supposed to help the company implement a strategy or formulate one. Collaboration tools and social media enhance the market monitoring process not only because social media can be monitored, but also because an important part of the content and context is created at the receiving end of the market signals.
Download the white paper.
* Market Intelligence or MI is the discipline where organizations systematically gather, process and analyze information from their operating environment to facilitate decision-making.
For further information, visit the www.globalintelligence.com or send an email to media(at)globalintelligence.com.
About Global Intelligence Alliance
Global Intelligence Alliance (GIA) is a strategic market intelligence and advisory group. GIA was formed in 1995 when a team of market intelligence specialists, management consultants, industry analysts and technology experts came together to build a powerful suite of customized solutions ranging from outsourced market monitoring services and software, to strategic analysis and advisory.
Today, we are the preferred partner for organizations seeking to understand, compete and grow in international markets. Our industry expertise and coverage of over 100 countries enables our customers to make better informed decisions worldwide.