After numerous discussions with clients, prospects and intelligence experts this year we have identified the following 9 trends for 2017
While discussing digitization, the ecosystems of companies are increasingly being fully analyzed and monitored. This means, on the one hand, a jump on the cost side. Yet on the other hand, increases the internal perception of the company´s market and competitive intelligence experts, if they broaden the scope of their work and focus more on strategic topics.
Question to you: Do you have an overview of the whole ecosystem of your company?
Companies increasingly rely on their own market models and calculations to determine market size and market shares. Studies organized by industry associations, or by multiple clients with unchecked self-reporting are increasingly being challenged for efficacy.
Question to you: How closely do your market figures correspond to reality?
Besides the widespread future-oriented forecasts of market data, a stronger focus on trends (industry trends, megatrends, etc.) and scenarios can be observed. On the competitor level, it´s business war-gaming. Digitization, as well as an increase in uncertainty factors are reasons for this.
Question to you: Should you plan for trend- and scenario-analysis 2017? How do your competitors tackle digitization?
Companies are diversifying their office locations throughout multiple countries. A trend can thus be determined, that employees within local companies are becoming increasingly involved in market intelligence activities as either an interface, or information supplier for corporate HQ´s.
Question to you: Does it make sense for you to empower local employees to become CI champions and information hubs?
There is a strong trend towards sales support activities, often referred to as sales intelligence. This applies, on the one hand, to business development, but also to the operational sales teams, which are being provided with battlecards, service benchmarkings or data analytics (propensity models).
Question to you: How can you help your sales team to sell or to sell more?
Companies need a lot of time, especially in large corporate structures, to deliver intelligence reports and to determine market KPIs. In addition, planning and strategy cycles often do not reflect the current business environment. As a result, companies are stepping up their efforts to change internal processes in order to be able to identify market KPIs more quickly.
Question to you: How can you speed up your internal processes without losing quality?
Static presentations in PowerPoint and PDF format are increasingly outdated. The use of interactive dashboards is becoming more and more popular. Visualization tools, such as Tableau or Qlik are increasingly used to enable interactivity and to integrate additional data sources.
Question to you: How can you become more interactive in your reporting?
In companies, there is often a discrepancy between information overload and the insights needed. For this reason, companies are questioning and eliminating existing CI formats (reports, newsletters, etc.). Subsequently, the focus is on high-quality analysis and fewer reports.
Question to you: What does this mean for your company? Which Intelligence formats are still up-to-date and really used?
In the big data area, smart applications are being developed, which automate past manual activities or gather new insights through the intelligent connection of databases. Smart Data is the interplay between Data Analytics and the brainpower of the market- and competitive-intelligence experts.
Question to you: How can you gain new insights in 2017 in a smart way?