The Growing Need for Agile, Collaborative, and Impactful Market & Competitive Intelligence

• Consumer & Market Insights

As the business landscape is evolving fast and economic uncertainty further complicates it, it is more critical and inevitable for organizations to be proactive and strategic in tackling it.  

As new companies continuously emerge, and established firms run out of business, it becomes crucial for every organization to stay updated and relevant to changing market conditions. Having access to this data in real time is critical for business stakeholders.

One of the main issues organizations face is Information Overload from multiple sources.

Most of the market and competitor data companies use is unstructured data and resides in various formats on social media platforms like Twitter, Facebook, etc., and other sources like blogs, forums like Reddit, etc. Additional data sources like patents also give us exciting insights into an organization and its activities. Moreover, different teams leverage different sources to get this data. Tracking all these is currently a manual, cumbersome, and decentralized process.

The perceived value of Competitive Intelligence within organizations has until now been limited but is fast growing. More adoption drives more business value and results. This brings us to another significant issue around insights adoption: Accessibility and Communication. Market or competitive insights need to be delivered with impact and be made available quickly to all stakeholders. Intelligence gathered within the organization must be accessible not just to marketing or strategy teams but also to R&D, innovation teams, sales, engineering/product development, procurement, and other teams.

Traditional ways of doing research once or twice a year are not helping organizations, and agility needs to kick in while doing research. Outdated techniques and old data sources are not able to address business challenges. We need to think innovatively and look at unusual locations for inputs to drive research. Moreover, technology is disrupting the insights game; unless adopted, the insights gathered will neither help analysts nor organizations and will result in existential threats. When stakeholders have to take actions manually across market and competitor activities impacting the business, there is a lot of loss of time and efficiency in dealing with other internal stakeholders.

There is an urgent need for insights-based collaboration on a more straightforward, dynamic, real-time basis.

Our Market and Competition Sensing (MCS) platform — Course5 Compete, delivers personalized and real-time insights from various data sources through a centralized platform with enhanced collaboration capabilities, driving competitive advantage. The platform achieves this by using data from multiple sources (structured and unstructured) and leveraging advanced AI and ML technologies. It delivers real-time and relevant data that enables users to take timely actions and devise short- to long-term strategies.

Course5 Intelligence also brings in strong domain expertise with over 20 years of insights delivery experience. We offer strong Market & Competitive Intelligence (MICI) capabilities coupled with an advanced end-to-end technology platform that is holistic in its approach to data sources. Write to us at info@course5i.com or speak to our experts to find out how we drive strategy and implementation that can build a continued competitive edge for your business.