What is market intelligence?
Market intelligence encompasses any and all information that is pertinent to your industry, including your competitors, customers, prospects, partners, suppliers, distributors, and regulators. Generally speaking, companies invest in market intelligence with the intent of mitigating risk, simplifying decision-making, accelerating revenue, and increasing longevity.
In a world shaped by COVID-19, market intelligence is arguably more critical than ever before. As a result of the pandemic, businesses have had no choice but to learn how to pivot—and pivot quickly. The organizations around you are making changes—to their product strategies, their go-to-market strategies, their tech stacks, etc.—at dizzying rates, and if you don't stay on your toes, you're at risk of losing both mind share and wallet share.
Underneath the market intelligence umbrella is competitive intelligence (CI): the process of capturing, analyzing, and activating information related to your rivals. As of 2021, nearly two-thirds of businesses say they've yielded positive returns on their investments in CI.
