Survey Predicts Market Intelligence will Include Holistic Risk Management and Greater Collaboration by 2015
Global Intelligence Alliance (GIA), a global strategic market intelligence and advisory group, predicts that market intelligence* will include more holistic risk management and greater cross-organizational collaboration within the next five years, according to findings from the Market Intelligence Trends 2015 survey.
According to the survey, global executives expect their companies to have moved away from the traditional “analysis silos” approach by 2015 and to have organization-wide risk management systems that will analyze business opportunities and threats in a more comprehensive manner. In other words, they expect to have market intelligence systems that are capable of including multiple views on the external business environment, by fostering greater communication and collaboration between various geographical and functional units which perform different macroeconomic, customer, technology and competitor analysis.
A summary of predictions for market intelligence (2010-2015)
1. Greater collaboration and “co-creation”. Market intelligence professionals intend to collaborate more closely with senior executives, sales people and company experts, to develop their organization’s market intelligence infrastructure and deliverables and to better link them to the decision points that the company executives are facing. More cross-border collaboration will be encouraged in order to capture global trends and events, and a greater focus will be placed on roundtable discussions, scenario analysis workshops and war gaming, and other forms of collaborative techniques.
Also of increasing importance will be the ability to benchmark against competitor products and services and collate ideas, thoughts and opinions from experts about how their markets are changing.
Use of Market intelligence in 2015
|1st Priority – Collaboration||Discussions, comments, dialogue
between people within the internal network
Intelligence teams to present conclusions to management (that may even challenge prevailing business assumptions) rather than merely delivering neutral analysis
Priority – Benchmarking and Expert Advice
with and benchmarking against competitor products and services
Ideas, thoughts and opinions from experts about how the marketplace is changing
3rd Priority – Business
||Broad trends and themes about consumer and
Numbers, figures and hard facts about competitors’ or customers’ performance
Industry-level indicators, price data, market size and market share data
Macroeconomic indicators and forecasts to help understand business cycles
2. Market intelligence will be better integrated with other internal processes. As a result of greater collaboration across organizational divisions, the market intelligence function is expected to be better integrated into business processes such as sales and marketing, innovation, strategy and planning.
3. Mobile and social media tools become part of the market intelligence process. Market intelligence professionals also say they are working towards the integration of social media tools and mobile services into their information collection and communication processes by the year 2015. Online tools such as wikis, podcasts and webcasts will be part of the norm. The more sophisticated companies even expect to use Global Positioning Systems to provide geo-demographical data.
Technologies that will change the way business information is shared (2010-2015)
4. Focus of market intelligence talent development moves from data-cruncher to advisor. Market intelligence professionals are increasingly expected to add value in a greater variety of ways, from market facts to strategic insights. As such, they will need to hone both their ‘hard’ skills in increasingly popular analysis methods such as strategy maps and alternative scenario simulations, as well as their ‘soft’ skills in facilitating, consulting and people management.
For the full presentation of the findings from the Market Intelligence Trends 2015 survey, please register for the upcoming white paper release webinar on Global Market Intelligence Trends 2015 on June 23.
* 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, please 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.
About the Market Intelligence Trends 2015 White Paper
The Market Intelligence Trends 2015 White Paper from Global Intelligence Alliance presents findings from an online survey in May 2010, amongst 146 market intelligence executives from around the world, forecasting developments in the strategic market intelligence domain. In particular, it covers the trends that will impact the way market intelligence is conducted, information that will become most valuable to decision-makers, future channels for information sharing and the impact of social media by the year 2015.
The findings are expected to be useful to senior business executives in the planning and budgeting of their market intelligence activities over the next few years.