August 28, 2014
Business Chops Hot Tip #2: Is Your Company's Market Intelligence Sustainable?
Most firms have no shortage of data, and much of it is focused in the financial realm. Having a dashboard of key internal metrics is essential for making short- and long-term management decisions. However, keeping an eye on the external competitive environment is also a critical success factor for any size company. Understanding and using key market data, when applied to making management decisions is an element of market intelligence. Having a sustainable market intelligence function at the executive level is a critical success factor that gives your firm valuable perspective. How is your company performing in the competitive landscape?
Stiernberg Consulting provides strategic and tactical business planning services and market intelligence for manufacturers, and other companies in the audio-video, music products, entertainment technology industries. The whitepaper “When In Doubt, Find Out! Using Market Intelligence to Manage Risk and Uncertainty” describes five myths and realities about business intelligence and offers tips for spotting trends in your market environment.