You can compete and grow if you truly know your customers, competitors, suppliers, markets and media, as well as regulatory changes and advances in technology.
While business intelligence is largely focused inward on the business, its operations and the data it generates, market intelligence looks at how the external environment impacts the company’s operations and feeds into internal processes and data. Adding market intelligence to the business intelligence process provides a more holistic or complete picture of a company’s performance for a given set of market conditions.
Market intelligence explained
Each industry has its own set of legal, operation and business requirements but they also share common denominators in the sense that every company has to retain current customers, attract new clients, and compete with others to stay ahead. At the heart of these activities lies market intelligence, the process of gathering and interpreting data pertaining to a company’s environment, ranging from customers to regulatory changes.
While quantitative data plays a big part in market intelligence, experienced market intelligence experts, such as our team at Blackhawk Intelligence, also look at the qualitative information available around the subject of the investigation in question.
By using both quantitative and qualitative data, we can then identify specific aspects or characteristics of your market and your competitors that may pose additional risks or present unique opportunities to further your business goals. The result? Business leaders can make strategic and tactical decisions better and faster.
Applied market intelligence, targeted to a specific client application
Market intelligence is an expansive area and one that must be carefully scoped and defined in relation to a specific case at hand. As such, the market intelligence data Blackhawk acquires as part of an investigation is done to support a specific initiative, such as part of due diligence for an M&A case or to thwart a hostile take-over attempt, or something that is more mundane, such as gathering information on competitors’ capabilities and resources to assist in positioning in competitive tender situations.
The deliverable from our market intelligence process, in most cases, would have been defined at the outset and be uniquely tailored to your organisation’s needs.
How Blackhawk can help with market intelligence
Each company is different, not just in terms of structure and market, but also with business priorities and culturally too. At Blackhawk Intelligence, we work with companies around the globe, often with clients operating in different regions, so we know first-hand that when it comes to conducting intelligence work, local experience, operating conditions and expectations are fully considered so that the data we gather can be analysed and interpreted in the proper context.
If you require specific insights or need a better understanding of a particular market and competition, give our market intelligence team a call on +44 (0)20 8108 9317 and we will do the work for you.