market intelligence definition
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8/13/2019 Market Intelligence Definition
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C o n s u l t i n g
Market Intelligence
Market intelligence'is the information relevant to a companys markets, gathered and analyzed
specifically for the purpose of accurate and confident decision-making in determining marketopportunity, market penetrationstrategy, and market development metrics.
Business Intelligencerefers to skills, processes, technologies, applications and practices used to
support decision making. Business Intelligence often aims to support better business decision-making and as such can be defined as a decision support system.
Market intelligence includes gathering of data from the companys external environment,
hereas the Business intelligenceprocess primarily is based on internal recorded events ! such
as sales, shipments and purchases. "he purpose of incorporating Market Information orintelligence into the Business Intelligence process is to provide decision makers ith a more
#complete picture$ of ongoing corporate performance in a set of given market conditions.
"o support corporate strategy and ongoing decision making, a Business Intelligence %ystem
comprise roughly of an &xtract, "ransform and 'oad (&"') processor, a data arehouse and arange of reporting tools. Information from existing corporate data sources is extracted,
transformed and then loaded into a data arehouse. *rom here data is being analyzed and pulled
into various reporting systems.+"he market information feed from the external environmentinto an analytical processing unit, hich could be either ithin or outside the Business
Intelligence tool.
e have to different setups for pulling of external market intelligence into the Business
Intelligence system. *rom outside the platform, the market information is a part of the sourcesystem environment, here it could already have been analyzed in a separate transactional
database and then extracted, transformed and loaded into the data arehouse or into a separate
data mart for feeding into the #front room$.
/lternatively, and perhaps in a more logical ay, from ithin the Business Intelligence system,the market information could also be feed (&"') non-analyzed and uniformly directly into the
data arehouse, or a data mart, from here it is finally being analyzed and reported in #the front
room$.
0ne challenge (open 1uestion) is to determine the extent of analyzing or precessing market datain a transactional database, before feeding into the data arehouse and finally again analyze in
the front room.
Menara Gracia Lt.9 (Room 908), Jl.HR.Rasuna Said Kav C-17, Kuningan, Setiabudi, Jakarta Selatan 12940, IndonesiaPh. (021) 333 800 39, 3335 1001, Hotline : 08 777 600 8799, Fax . (021) 5220914,
e-Mail 1 : [email protected], e-Mail 2 :[email protected], Website : www.matacorpora.com
http://en.wikipedia.org/wiki/Decision-makinghttp://en.wikipedia.org/wiki/Market_opportunityhttp://en.wikipedia.org/wiki/Market_opportunityhttp://en.wikipedia.org/wiki/Market_penetrationhttp://en.wikipedia.org/wiki/Market_penetrationhttp://en.wikipedia.org/wiki/Business_intelligencehttp://en.wikipedia.org/wiki/Business_intelligencehttp://en.wikipedia.org/wiki/Business_intelligencehttp://en.wikipedia.org/wiki/Extract,_transform,_loadhttp://en.wikipedia.org/wiki/Market_intelligence#cite_note-Kimball-4mailto:[email protected]:[email protected]:[email protected]:[email protected]://en.wikipedia.org/wiki/Market_opportunityhttp://en.wikipedia.org/wiki/Market_opportunityhttp://en.wikipedia.org/wiki/Market_penetrationhttp://en.wikipedia.org/wiki/Business_intelligencehttp://en.wikipedia.org/wiki/Business_intelligencehttp://en.wikipedia.org/wiki/Extract,_transform,_loadhttp://en.wikipedia.org/wiki/Market_intelligence#cite_note-Kimball-4mailto:[email protected]:[email protected]://en.wikipedia.org/wiki/Decision-making -
8/13/2019 Market Intelligence Definition
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C o n s u l t i n g
Menara Gracia Lt.9 (Room 908), Jl.HR.Rasuna Said Kav C-17, Kuningan, Setiabudi, Jakarta Selatan 12940, IndonesiaPh. (021) 333 800 39, 3335 1001, Hotline : 08 777 600 8799, Fax . (021) 5220914,
e-Mail 1 : [email protected], e-Mail 2 :[email protected], Website : www.matacorpora.com
mailto:[email protected]:[email protected]:[email protected]:[email protected]://en.wikipedia.org/wiki/File:MarketInfoinBI.jpgmailto:[email protected]:[email protected]