Marketing intelligence is the ability of organizations to find and retrieve daily information that is clear and relevant to the company’s market, collected and analyzed specifically for the purpose of accurate and confident decision making in determining market opportunities, market penetration strategies, market development and metrics.
Marketing intelligence is required when entering foreign markets. You can also learn this: 10 Best Business Ideas of 2021 – From Home and Low Cost
Marketing intelligence determines the intelligence needed, collects with the seeking environment and provides it to the marketing manager who needs it. Marketing intelligence software can be deployed using an on-premises or software as a service (SaaS, or cloud-based) model.
Marketing Intelligence Work System
These systems take data from different data sources, such as web analytics, business intelligence, call center and sales data, which often come in separate reports, and put them into a single environment. In order to gather marketing intelligence, marketing managers must stay in touch with relevant books, newspapers and trade publications.
Talk to various stakeholders such as customers, distributors and suppliers.In addition they must also monitor social media and carry out online discussions. Marketing managers can design related reports and visualize data coming from multiple departments and sources (even, in some cases, external data.)
This makes it possible to see current key performance indicators in real time (or as fast as the source provides data) and analyze trends, rather than waiting for analysts to provide periodic reports.
A market intelligent system or marketing intelligence designed to be used by a needy party such as a marketing manager and can be seen by employees throughout the organization according to their authorization. The system being developed may have a user interface that more closely resembles consumer software than software around individual data sources that the analysts are designed to use.
Marketing intelligence or it can be said as marketing intelligence means that it is the ability to collect and analyze data as an effort to anticipate related decision making.
This kind of intelligence has several main parts, namely: competitor intelligence, product intelligence, market understanding and customer understanding.
Actually the marketing process will run very well if it is done in teamwork. With the help of the appropriate team, more optimal results will be obtained.
What Is Needed In Marketing Intelligence
According to spglobal.com, one of the very good Marketing Intelligence platforms currently states that Marketing Intelligence should be able to support the following 5 things:
1. Credit Analytics
Credit Analytics blends cutting-edge models with robust data to help you reliably assess the credit risk of rated and unrated, public and private companies across the globe.
2. Credit Assessment Scorecards
Credit Assessment Scorecards provide credit and investment management professionals with the essential tools to identify and manage potential default risks of private, publicly-traded, rated, and unrated companies and government entities, across a multitude of sectors.
The Scorecards enable environmental, social, and governance (ESG) factors to be considered in credit risk analysis in a transparent and structured way, while working through the regular credit assessment process.
3. Investment Research
Comprehensive collection of real-time research features equity, fixed income, sector, economic, and strategy reports from leading analysts worldwide.
4. Fundamental Data
Go deep with detailed industry data using SNL Fundamentals, broad leveraging wide-ranging, historical coverage from Capital IQ, and comprehensive with point-in-time financials from Compustat. Make decisions with reliable and transparent fundamental data.
5. Leveraged Commentary & Data
Gain deeper insight into the leveraged loan market. Produced by own team of experienced journalists and analysts, LCD provides you with the market-making news and in-depth research you need for your segment.
Who Needs Marketing Intelligence
Actually, all institutions need it. Government and private institutions. Especially those engaged in the sectors: Energy, Finance, Fintech, Healthcare, Metals & Mining, Technology, Media & Telecom, Real Estate, and Retail & Consumer.
The following is a list of institutions that should use marketing intelligence in maximizing their marketing:
- Commercial Banking
- Government & Regulatory Agencies
- Investment Banking
- Investment Management
- Private Equity
- Professional Services
That’s what Market Intelligence is all about today. Companies or the government in 2021 should apply market intelligence. Can work with existing platforms.
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