Out of the many examples, metaphors and analogies I am using in my keynote speeches and lectures there are a number analogies that come across as the most compelling. These clearly speak to the mind and show what I mean by added value of intelligence.

Eventually, the goal is to create a clear view of all the aspects of market by thorough research and analysis. The analyzed data will lead to a new understanding of the current and future situation. Understanding that, has an impact on the business: Vision, mission, strategy, planning, operations and decision-making.

The more an intelligence team is seen as trusted advisors (internal consultants) the better they can play this role.

But how clear are we in our answers?

The weather forecast.

Imagine you are planning your summer barbecue party coming Saturday. An outdoor event for which you have invited 75 of your very best friends. In other words a big party.

Beside all the planning and logistics to make it an unforgettable event you want to know one other detail: the weather forecast. Will it be blue-sky, sunshine and warm? Or raining and cold?

Market Intelligence people have the tendency to analyze the entire market, each and every detail and provide a deck of 80 slides with all they know.

So, the approach to the weather forecast done by a market intelligence professional will be like this:

He shows a map of your country or region and will say: let me explain: There is a high pressure area in the north, blowing eastwards with a speed of 18 knots. Current temperature there is 23 Celsius. Slightly west of that is a rain zone which moves further west in the coming 24 hours with a speed of 23 knots. This rain-zone is impacted by the low pressure area which moving to the north. (speed 10 knots) The pressure is only 960 milliBar, so don’t worry. The average temperature however is 14C at the moment. The thunderstorm currently active East of the lakes will drift slowly South and will influence the temperature on south side of the river. The high altitude jet stream wind will blow from west to east moving the high pressure (1100 milli bar) towards the islands on the south coast.

This data (not even information for many of us) is than often supported by radar images and charts of past patterns.

“On the radar screen it is obvious that the clouds will provide snow in the North, but only if the low pressure area will come closer in the coming 8 hours. And that will happen if the speed remain 56kts.” Continues the market intelligence profession. And it keeps on going. 80 slides!

You will look at him and ask again: Is there rain or sunshine in my backyard coming Saturday?

That is basically the only question you want to have answered.

The most weather forecasters understand that. They will tell you: Yes there will be sunshine, 27C coming Saturday. Than, beside that basic answer to the question, he or she will explain in simple terms why the sun will be shining. Supporting data and logic.

That is what Market Intelligence people need to do. Listen carefully to the questions and try to give that basic answer.

The question: will there be rain or sunshine is a binary question. The answer is yes or no. In market and competitive intelligence such a binary question will be followed by open questions to get a better understanding. But even for the weather forecast open questions should follow. How warm will it be? How strong is the wind? From what direction will the wind blow? Will it be a clear blue sky or will there be some scattered clouds? If so, when, how many? Etc.

Same for the intelligence. The first question may be: is there a market opportunity for my products? Or will the new competitor be a threat for my business?

The answer to the first question could be; Yes, there is a market opportunity.

And we will explain in simple terms why we have come to the conclusion that there will be an opportunity. Looking at the market trends (people see the need for the product and would like to buy it), economic drivers (there is money to buy, there is a clear business benefit for these products) and other parameters that could show the reason why there is a market opportunity.

But than the underlying (open) questions will pop up:

-       How big is that opportunity?

-       For which market?

-       When will the market take of?

-       How to sell this? Go to market models?

-       Etc.

I will write about that in my next article.

Good luck with your intelligence.

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About the author.

Joost Drieman is director Market and Business Intelligence at Cisco Systems, Inc. since January 2006.

Before Cisco Joost had senior management positions at several high tech companies in Europe and the USA. He also did consultancy work for the EC, DG Infso.  In total over 25 years international experience in strategy, business development, intelligence and management.

Joost represents Cisco as trustee at the Marketing Science Institute (USA) and is member of: European Marketing Academics, Esomar, Institute for Study of Business Markets (USA) and European Institute for Advanced Studies in Management. 

He is visiting lecturer at some the business schools in Europe and the USA to teach market intelligence. Currently he does research on the ROI of Market Intelligence.

Joost regularly speaks at conferences. He is a dynamic, charismatic presenter, interacts with the audience and has the ability to explain difficult topics in an easy understandable way, with a touch of humor.

Education:

BSc in electronics (NL), MBA in strategy (magna cum laude) from UAMS (B), Management at the Institute of Business Science (NL), Corporate Strategy at Harvard (USA), Market Intelligence, Wisconsin University, (USA), Data modeling, analysis and statistics, SAS (USA)

Finally, he is married to Ann with 3 children and has resided in Belgium since 1989.