What is Market Intelligence Data?
The definition of market intelligence data is the information relevant to a target account’s commercial market. Examples of market intelligence data include market growth rate figures and competitor analysis data (i.e. how many companies a target is directly competing with). This can give decision makers more insight into how external factors are impacting target accounts. Market intelligence data differs from business intelligence, which focuses on internal events such as sales and shipments. Market intelligence can be gathered and analyzed to enable sales teams to make better strategic decision in relevant areas like market opportunity and market development.
Market intelligence software can be used to transform raw data about accounts’ markets into information that can be useful to sales teams. Market intelligence systems can crunch data so that it empowers superior strategic, operational and tactical decisions.