Market intelligence is simply the new age interpretation and review of the data collected through other tools and sources. It is the next level of consumer insight and data reporting that allows the end user to understand the various aspects of the market and understand the ‘why’ behind their purchases. The platform analyzes billions of data points, is fast and provides a host of industry related reports. It leverages artificial intelligence, predictive analytics, and machine learning, to provide predictive insights to users.
Importance of Market intelligence
The interpretation and review combines quantitative and qualitative research to help CMOs and other senior executives understand their target consumer and determine their competitive advantages. It is a powerful marketing tool that provides CMOs with actionable intelligence to evaluate marketing budgets, improve the company’s market positioning, and create effective advertising campaigns. It helps you plan your next move in the marketplace and understand what the customers want.
Who uses Market intelligence?
Regulators, governments, corporations, and anyone who wants to be informed about the way their business works. It helps you understand the markets in which you operate, identify and target the most important markets to expand to, understand how competitors are operating, identify new markets and opportunities, determine competitors’ strengths and weaknesses, and be able to effectively defend your business.
Who creates Market intelligence?
All marketers have to create a competitive review is the aggregation and analysis of all of the social, interactive, and transactional activity that goes on in a consumer’s life through a variety of media channels. It delivers social and interactive insights, 360 degree consumer views, insights and intelligence to understand trends and generate insights to increase market share and accelerate growth.
NetBase Quid Role
NetBase Quid gives your business all the world’s information, pulling it together in one location. No matter your business size, from large global consumer packaged goods manufacturers to small multi-store retail, manufacturing, ecommerce and direct-to-consumer brands, NetBase Quid provides the best insight into your brand.
Marketers are already aware of the need to share insights with customers, and non-customer audiences. But with direct access to the customer, brands can move beyond short-sighted mass market appeals and be more insightful and relevant. By integrating customer data, NetBase Quid enables businesses to engage with customers at an individual level and deepen relationships with customers.
Key to Reaching the Customer
With data linking every digital purchase to the identity of the person, every interaction can now be tracked and segmented. The brand and customer can see how a specific campaign was effective and discover how they have interacted with a product before, and during, a purchase. The data provides insights to inform marketing campaigns, sales incentives, and even new products.
As the world becomes more complex, organizations are increasingly struggling to understand how they connect to, understand, and influence today’s vast array of consumer groups. Market intelligence allows business leaders to deliver highly personalized and contextualized marketing messages that deliver the right message to the right person. The same goes for measuring campaign effectiveness. Knowing how to target the right audience at the right time and in the right way allows organizations to truly align marketing and sales initiatives with their customers’ unique interests and behavior, providing increased ROI.
Using NetBase Quid
The NetBase Quid platform allows you to pull together key data about each of your key customers, enabling you to know everything about them, including:
- Regional
- Lifestyle
- Behavioral
- Personal
- Reputation
- Employee
These details provide an invaluable roadmap for identifying market segments and finding strategic opportunities to grow the business. Market intelligence is the way people get all the information they need to do their jobs and run their businesses – giving them the means to make informed decisions and stay ahead of the competition.
