Market intelligence, competitive intelligence, or business intelligence, is not simply the outcome of all kind of clever information or the result of a data bank research.
Market intelligence or competitive intelligence is a management concept: a discipline adopted by the management of an organisation focused on the understanding of the external environment and directly improve acting / decision-making.
Goal: gain and keep direct and continuous competitive advantage through always having “need-to-know” market information within reach, and therefore be able to make the right decisions.
This can contain very strategic problems, which can affect the existence of an organisation, or more tactical / operational problems.
By systematic organisation and analysis of all information the desired surplus value arises: intelligence.
Intelligence cycle
The optimal interpretation of the market intelligence function is illustrated by the intelligence cycle: a continuous process of gathering and analysing information within the organisation.
1. Identify
This stage is important to formulate the basic assumptions, information needs, goals, and the quality of the final output.
2. Gathering
To gather the right information different sources will be used, like internal and external information sources, expert interviews, and/or market research. Relevant information will be adapted for analysis.
4. Implementing
The distribution and implementation (actual decision-making). After adjusting the results to the goals, the process will continue.
3. Analysing
Through analysis the information will be converted into knowledge or “intelligence”: information on which managerial decisions can be based. The actual action is made in stage 4.
PROCEDURE OF RTE MARKET INTELLIGENCE
How do we work?
RTE Market Intelligence operates together with the customer. So no long consultancy-process, but practical solutions, with the following goals:
prevent surprises from the external environment
a faster insight in opportunities and threats: be ahead of the competition
bridge intelligence and strategy development
This is reached by:
determine and analyse the information needs
offer relevant customised market information through ‘search & research’
powerful analysis
advice and practical support with the development of market strategy and decision-making
organise the (market) information well
RTE Market Intelligence combines existing (market) research, information, and a world-wide web of (information) sources with qualitative research, done by our own staff.
