1) BETTER VIEW OF ACTIONABLE DATA
Businesses that can source, filter, and segregate data while drawing accurate conclusions have a competitive advantage.
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5 Top Benefits of
Market Intelligence
2) INCREASE CUSTOMER RETENTION
The sales team of your company may have worked extremely hard to bring in new business, but clients are always at the risk of being lured away by your competitors. Understanding their value to you and when they are likely to leave you would be extremely useful.
3) IMPROVE PROCESS EFFICIENCEY
Market intelligence improves operational efficiency by identifying process gaps, devising strategies to negate risks, and providing real-time updates. Market intelligence also drives consistency, reliability, and responsiveness across business operations.
Build a foundation for your decisions with bizbumps
Market Intelligence & Data Management solutions.
4) HIGHER MARGINS
Boost your upselling opportunities by knowing which products to target for specific customers. Market intelligence takes all of your data feeds, and product or service information into account and subsequently offers predictive upsell and retention strategies to spur sales.
5) AGILITY FOCUS
Organizations that are agile in nature and respond quickly to market changes gain a competitive advantage over their competitors. This works only if they have access to accurate and reliable insights, the right data, and an effective strategy in place.
In today’s competitive market scenario, competitive advantage is fleeting, and your ability to market and sell products becomes crucial for survival. If you can’t react to the ever-changing supplier and market dynamics, you’ll lose. That being said, there are many tools that are available in the market, which will help you assess and organize data. But most of these tools are blind to external data. Their “inside-out” approach can leave your company on a backfoot when planning and executing business strategies. Now, however, with the advent of market intelligence, traditional models of assessing market potential are being turned on their heads.
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At present, most businesses operate in a world where information is readily available at the click of a mouse. Thanks to the Internet, information on legislations, market trends, suppliers, and competitors is available if you know where and how to look.
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However, despite the easy availability of information on the Internet, most companies have started implementing tools and strategies that utilize market intelligence to gain real-time insights on suppliers, key competitors, and clients; thus, creating an “outside-in” perspective to create a competitive advantage. Market intelligence gives you a birds-eye view of potential markets, industries, suppliers, and relevant factors, and can open up new opportunities to give you more control over supply chain costs, availability, and reliability. No matter where it is applied, the impact of market intelligence is the same. It helps you make better business decisions, act faster than your peers, and react more efficiently to dynamic customers’ needs – making your supply chain and your business, more competitive.
There is strength in numbers...
CONNECT
Connect and blend data from everywhere
PREPARE
Prepare data for Analysis
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ANALYZE
Augment your analysis with AI
VISUALIZE
Visually analyze your
data
COLLABORATE
Share insights
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Bridge the gap between data and decisions with bizbumps' Market Intelligence and Data Management solutions
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