In marketing you must have heard of marketing intelligence. But, do you really understand what marketing intelligence is? If not, let’s look at the following explanation.
Definition
Marketing intelligence is an organization’s ability to search for and retrieve clear and relevant day-to-day information to the company’s market, collected and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunities, market penetration strategies, market development and metrics. Marketing intelligence is required when entering foreign markets. Where the information obtained in marketing intelligence will be processed in a marketing information system. In its business, marketing intelligence is a job that does not violate the law, a job that does not steal data from other companies or steal illegal data to obtain information and information which in marketing intelligence is confidential.
Marketing intelligence or market intelligence determines the intelligence needed, collects it with the search environment and provides it to marketing managers who need it. Marketing intelligence software can be deployed using an on-premises or software-as-a-service (SaaS, or cloud-based) model.
Marketing Intelligence Work System
These systems take data from different data sources, such as web analytics, business intelligence, call center and sales data, which often come in separate reports, and put them into a single environment. In order to gather marketing intelligence, marketing managers must stay in touch with relevant books, newspapers and trade publications.
Talk to various stakeholders such as customers, distributors and additional suppliers.In that they also have to monitor social media and carry out online discussions. Marketing managers can design related reports and visualize data coming from multiple departments and sources (even, in some cases, external data). This makes it possible to view current key performance indicators in real time (or as quickly as sources provide data) and analyze trends, rather than waiting for analysts to provide periodic reports.
A market intelligent or marketing intelligence system designed for use by needy parties such as marketing managers and visible to employees throughout the organization in accordance with their authorization. These developed systems may have user interfaces that more closely resemble consumer software than software around individual data sources designed to be usable by analysts. Marketing intelligence or can be said as marketing intelligence means that it is in the form of ability in terms of data collection and analysis as an effort to anticipate those related to decision making.
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