Gathering and Understanding Market Intelligence Requirements

 

Any business goal should be defined to satisfy real requirements. Internal stakeholders or users, clients, customers of any service, tool or process such as market and competitive intelligence have requirements of their own as it comes to dealing with their own targets and tasks.

As market intelligence users have been defined properly a thorough evaluation of their real intelligence needs should be conducted. Making friends along the way among this intelligence users community can only be advantageous later on. But recognizing the impact of available intelligence should be the major goal for this task.

Types or intelligence used, formats, preferred tools and technologies are valuable indicators to learn about intelligence users habits. More important though could be the firm knowledge of marketing and sales processes and programs where market and competitive intelligence are tightly woven in.

For example will a major product development require different analysis to support market segmentation, product positioning and competitive pricing, while strategic shifts or adjustments need market trend indicators, visualized raw material streams, supplier relations and competition M&A activities as well as geo-political outlooks.

Finally, addressing information overflow and efficiency concerns, market and competitive intelligence needs to be easily readable, digestible and understandable, meaning: high degrees or condensing and visualization are of utmost importance to extract business value from intelligence and define crisp action based on that intelligence.

Related Topics:

Intelligence Process: Requirements

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Requirements

• Identification
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Market & Competitive Intelligence Forum:

Intelligence forum discussion about intelligence requirements