What are the top market intelligence companies

Market intelligence is becoming more important than ever for companies.

Market Intelligence and Competitive Intelligence (MCI) are becoming more important than ever in German companies. This is the result of a study commissioned by the SVP Market Intelligence Stammtisch 2016, which was carried out as part of a master's thesis at Karlsruhe University of Applied Sciences. The SVP Market Intelligence get-together is a body made up of representatives from industrial and service companies as well as universities. He is currently working on the future of market intelligence.

For the study, experts from the MCI areas were interviewed and a standardized online survey was carried out among clients of SVP Deutschland AG.

The surveyed experts and company representatives agree that the increasingly complex markets, new competitors and faster, sometimes disruptive market and technology developments require the increased use of MCI.

Currently, 64 percent of the companies surveyed use MCI to derive corporate strategies, 63 percent use them for market entry decisions and 61 percent to secure competitive advantages. MCI is also used with 56 percent each in product development and to optimize sales development.

In most decision-making areas where MCI is used, its importance will increase. This applies in particular to areas that are responsible for deriving corporate strategies. Here, 59 percent of the companies surveyed assume that the importance of MCI will increase. The companies have also recognized that they have to invest more in early warning against the background of the ever faster changing market conditions. Only in the area of ​​the legal framework do the companies see a trend towards a "less important" field of activity for MCI in the future, at 22 percent. (see graphic 1)

(SVP graphic; source: Market and Competitive Intelligence in the future, Soraya Swoboda 2017)

Even if market developments should be kept in mind nowadays - the everyday life of the MCI professional is still strongly ad hoc. According to the survey results, one third of the capacities are used for ad-hoc orders (see Figure 2). And according to the results of the study, it will remain so in the future.

From the SVP's point of view, this is primarily related to the time factor. In everyday life, which is strongly driven by ad hoc, there is little opportunity for continuous monitoring and regular evaluation of signals. It should be borne in mind that ad hoc inquiries can often be answered much better and faster or do not arise in the first place through a systematic and continuous preview of the market environment. In this way, time can be gained for other activities in everyday life.

(SVP graphic; Source: Market and Competitive Intelligence in the future, Soraya Swoboda 2017)

A large proportion of the MCI capacity (37 percent) is still used to discover data. The analysis costs 30 percent. The creation of the report also requires another 24 percent capacity. It can therefore make sense to outsource MCI tasks to external service providers. The surveyed companies show that MCI tasks are assigned to external consultants very differently. The average is 23 percent of outsourced services from the total capacity, albeit with large deviations. The median is 15 percent.

If you look at the sources used by companies for MCI, online sources are mostly used free of charge: 94 percent of those surveyed use them frequently. Industry association data and internal databases are also used frequently. As expected, social media sources (48 percent) will gain in relevance. In addition, the companies assume that they will be able to access websites and free sources (47 percent) even more in the future. An assessment that is questionable, because high-quality data is usually chargeable.

According to the results of the study, its own customers will play a greater role as a source of information for MCI in the future. This is right and important to customers

  1. be able to specify the future technological requirements for product development
  2. Provide information on the strength of competitors (e.g. in the context of satisfaction analyzes)
  3. Foresee disruptive changes in customer industries that can have a dramatic impact on suppliers.

In the age of digitization, one could assume that new technologies will increasingly be used for MCI tasks. In fact, data mining and text mining are rarely or never (61 percent and 70 percent, respectively) used for MCI analyzes. Knowledge management software also has a shadowy existence. This in particular could save time on ad hoc tasks in everyday life.

(SVP graphic; Source: Market and Competitive Intelligence in the future, Soraya Swoboda 2017)

SVP is your partner when it comes to MCI and the future of companies. Do you have any questions about the investigation? Would you like to think about the future with us at the SVP MI round table? Then turn to Matthias Knapp, Board member SVP or Norman Pirngruber, Market Intelligence Expert SVP.