Market and Competitive Intelligence Reporting
Market and Competition go head to head in any business prospect. However, the positive aspects of competition are that it helps businesses be alert and innovative. Competitors understand your business best and push you to achieve that extra bit more. Having said that, it is imperative for companies to study the markets on a daily basis and keep themselves informed about which they would likely have to scale up. How do they do that? Here we are, with a technically well developed and carefully crafted Market and Competitive Intelligence reporting system.
What do we mean by Market intelligence (MI)? In simple terms, Market intelligence is an important practice, in a company’s day to day activities, where information pertaining to and relevant to the company’s markets are gathered and analysed. This is specifically done to arrive at a confident decision on how to penetrate the market and study various possibilities to develop the market. Close on heels of Market Intelligence comes a Competitive Intelligence Report, wherein the market survey and analysis reports are shared with senior executives and managers to strategize business plans for an organization.
We well understand that with the arrival of social media platform, the opportunity to reach a wide base of audience has increased ten folds, so to say. Social Media Marketing has taken the process of business promotion, to the next level. As such, majority of the companies share huge amounts of data and commentary, in order to promote themselves and gain new followers. This frequent sharing provides extensive information for competitors as well as consumers. Even though there is every possibility of data theft, we are well aware that companies go ahead in posting critical data on social media. Consumers sometimes fear that posting on social media will make them vulnerable to identity thieves and burglars. Yet many companies post truly sensitive information on social media.
Although Competitive Intelligence offers clear benefits, Analysing huge volumes of data can be a real challenge. To address this issue, our indigenously developed Market and Competitive Intelligence reporting system, gives customers an insight into the product market and analyse the projections, before taking the next step forward. Here’s a brief insight into what this system can do.
- This system has advanced features which can help collect data in near real-time from many different sources, channels, and forms (posts, pictures, videos),
- Duplicate and Spam data can always be a cause for confusion which this system Identifies and discards.
- Helps in discarding irrelevant and unconnected information
- Alerts the companies on new developments, pertaining to their product and business activities.
- Analyses business patterns through media monitoring
- Provide results through a wide range of visualization tools, including dashboards.
We believe that this well planned Market and Competitive Intelligence process will bring out the best in companies while facing stiff competition.