What is market intelligence?

What does it mean for business?

This introductory booklet provides a quick subject overview for business professionals who require a fast read on market intelligence. We summarize market intelligence as a systematic and ethical research model for strategically assessing the competitive marketplace and utilizing key publicly available —actionable information.

How can any firm compete in today’s competitive market without having a sound understanding of evolving trends? Without knowledge of the competitive activities affecting the market? While market research and strategic planning both provide useful information and direction in these areas, a market intelligence unit (or consultant) will build additional competitive research and analysis into these disciplines (industry data, journalism tools, government data, etc. and inferential & business analysis techniques). Market intelligence helps to comprehensively assess your firm’s external competitive environment and position your firm to succeed.

This complex discipline, represented by several industry associations and a growing number of academic courses, is increasingly necessary in today’s competitive environment. A multifaceted number of resources and skills are necessary for conducting market intelligence – which we touch upon in this publication.