How Market Intelligence Evolves
As many business functions and operations the intelligence discipline experiences evolutionary cycles and developments.
While many companies (size certainly being a factor) conduct intelligence gathering and utilization in fragmented, individual and rather unstructured ways others have either firmly established intelligence functions within their marketing & sales groups or even dedicated intelligence units.
Here are six potential evolutionary steps from limited intelligence efforts to full blown, highly integrated intelligence solutions that could even become an additional service or product to related industries if market leadership is reached with the quality and offering of the intelligence package.
- Ad-Hoc: Individuals and teams collect their own information
- Establishment of a specialist unit or other dedicated resource
- Introduction of computer based solutions
- Evolution into a full global electronic network
- Recognition of information as a corporate asset with appropriate information resource management (IRM) policies and procedures
- Intelligence as a tradable commodity, to be shared with partners or sold externally
As you identify your company’s position within the evolution chain you might be able to convince your organization of the next necessary steps.
Author: Jens Thieme
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