Date: August 27, 2009
Time: 5 to 6 PM CDT
Market Intelligence is the information relevant to a company's or organization's markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity and threats. Market intelligence is the systematic process of gathering, analyzing, supplying and applying information about the external market environment. In today's environment, market intelligence makes heavy use of social networks and social media.
The benefits of this type of market intelligence systems are:
• Is supported by and supports the driving forces affecting organizations
• Low barrier to entry: low initial cost and low or no barriers to use
• Flexibility: easy to change focus, add new features, and answer new questions
• Scalable: works for various sized groups
• Adaptable: easily adapted to a large variety of groups and purposes
• Value increases with use: It's a learning system
Integrating web 2.0 technologies, GVI's new market intelligence system, is primarily a strategic intelligence system. It covers the driving forces, customers, competition and technology. The form of the data it deals with is primarily free form text, graphics, video and audio. It utilizes the intelligence of a human team collaborating to develop insight and foresight.
The sources of the data are many. They can include the Web at large, blogs, social networks, groups, news, press releases, individual web sites, reports, articles, financial sources, bookmarks & indices, and many more. Data in the form of text, tables, graphs, audio (podcasts) and video are brought into the collaborative workspace. Most of this happens automatically and is update nearly continuously.
However, the members of the collaborative are encouraged to use their own sources and to bring those data into the systems as well. Consultant reports, books, journal articles and many other sources of pertinent information can be brought into the system by the team through web browsing, RSS readers, searches, and reading. The results of conversations, interviews, meetings and internal and external conferences can also be included.