The Global Intelligence Alliance (GIA) held the GIA Congress, held in Amsterdam from 23 to 25 May 2011. The conference theme “Creating Business Impact through Strategic Market Intelligence”, attended by over 100 visitors participated in workshops, panel discussions and roundtable sessions on topics such as improving decision making based Market Intelligence (MI), how MI used to generate revenue, and the state of affairs regarding MI in emerging markets.
Based on the discussions, the GIA comes with five recommendations for MI:
1. Outsource work and create external networks for better results
2. Create clear links between intelligence and strategy
3. Choose a consultative approach
4. Tackle issues that your company can derive from its strategic goals
5. Promote your department with your colleagues
Social media, its data and technologies can help Market Intelligence departments with the above mentioned five recommendations. Creating cost-efficient infrastructures that enable external networks and expertise are key in a real-time and transparent global economy.
Social media data is a rich additional stream of intelligence, provided the data is gathered and analysed effectively. All kinds of external stakeholders can be monitored, think of end-consumers but also experts, partners and so on. Continuous intelligence, informing the organisation and its departments more frequently. Adaptation capabilities are key for the survival and prosperity of an organisation, spotting and connecting the dots give competitive advantages. This is where Open Market Intelligence proves its value.
“It is not the strongest species that survive, nor the most intelligent, but the ones most responsive to change” – Darwin.