Market intelligence

This article is about information and analysis of a commercial market. For information to support marketing activities, see Marketing intelligence.

Market intelligence is the information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining strategy in areas such as market opportunity, market penetration strategy, and market development.[1]

Market intelligence includes the process of gathering data from the company’s external environment, whereas the Business intelligence process primarily is based on internal recorded events – such as sales, shipments and purchases. The purpose of incorporating Market Information or intelligence into the Business Intelligence process is to provide decision makers with a more “complete picture” of ongoing corporate performance in a set of given market conditions.[2]

References

  1. ↑ Cornish, S. L. “Product Innovation and the Spatial Dynamics of Market Intelligence: Does Proximity to Markets Matter?” Economic Geography. Volume: 73, Issue 2 (April 1997)
  2. ↑ Prescott, John and others, Proven Strategies in Competitive Intelligence (Wiley, 2001)
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