The scope of what market intelligence encompasses will vary from company to company, covering strategy, marketing, technology or other areas.
The scope of what market intelligence encompasses will vary from company to company...
KPMG Luxembourg defines market intelligence as the process of gathering, organising, managing, digesting, and finally delivering information with the aim of supporting a decision. A market intelligence department or officer is active in the space between knowledge management and the ultimate decision-maker.
The scope of what market intelligence encompasses will vary from company to company, for example covering strategy, marketing, technology or other areas. We take a broad view of this scope, believing that companies’ needs and cultures vary widely, and therefore different organisations may benefit from different approaches to market intelligence. This large scope allows for wider synergies than are often expected, for example on the operational side.
The last decade has seen an exciting development in market intelligence tools, which are, by nature, categorised as Big Data tools. However, these shouldn’t be confused with business intelligence tools or digital marketing software:
Market intelligence covers one, some, or all of these topics (non-exhaustive list):
Depending on which topics it encompasses, market intelligence is also sometimes called competitive intelligence or marketing intelligence. Generally speaking, these functions are alike in technique, but pursue different goals.
KPMG Luxembourg offers the following services in market intelligence: