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Global Marketing

Global Business Intelligence can help your business:

There are variety of compelling benefits to Business Intelligence globally depending on different business functions — from marketing to sales to customer service. If we ask the industry experts, we can get inside on how to enhance your business and help decision makers make more educated, effective choices.
Recent statement from Rajeev Kapur from 1105 Media, Determining the ROI from social medial platform is a big challenge for marketing strategy. However, Business intelligence system can help in social media platforms, analytics tools, and pay-per-click campaigns to find the ROI. The global business intelligence can translate the data to analysis report where business can make proper decision based on the research data and facts. Intelligence report can give much bigger picture that we can imagine. The Business intelligence data is becoming more important than ever. Most of the data has been collected globally in past few years. In near future we can only see that increase by the day. The reason because of many different social media platform and number of users are increasing at breakneck speeds. What’s the importance of all global data without iota of intuitive information? This is where global business intelligence can help by bringing as method to all the data has been collected various ways. Even though global business intelligence is a broader term but at the end we it seeks for the right end user, what influence their decision and how this information. There are many ways to push this information to the client but business intelligence can figure the sweet spot for it. Eventually that will conclude to a solid sale of products. Business intelligence also can help understand about the other business that can be partnered. Sales personnel always like to be well prepare with the data prior to the meeting. This can give a good indicator of the potential business partner about their cutting budget, personnel turnover, sales data and many more parameters.
Global business intelligence not only look at KPI of the potential business but it also forecast to avoid any bottleneck and helps with new hire. A business can only be successful by its strategy and business model. Based on the Business intelligence data, the model can be altered to help the growth of the business. With over-saturation from internet and eCommerce in every market, it is easier for consumer to order clothing or food within a click. It is substantial for business owner to know where to invest on marketing based on the gather data globally.

https://www.cio.com/article/2384577/enterprise-software/8-ways-business-intelligence-software-improves-the-bottom-line.html

Categories
Global Marketing

Global artificial intelligence mix with PR- How to handle it

Is artificial intelligence (AI) truly existential threat to mankind? According to the Physicist Stephen Hawking, “either the best, or the worst thing, ever to happen to humanity”. Discussion about the global artificial intelligence raise blank stares or talk of robots taking over the world. In today’s date, automation has eliminated many jobs around the world by replacing manpower with robots. It is expected that emerging Artificial intelligence will also transform millions of knowledge based position in many industries very soon. These office jobs will be automated globally with AI which was predicted by experts in the Harvard Business Review.
As we know, AI is something executed by machine but it is the replication of human intelligence processes. In global scale, mankind is able to google the answers, not just the search results, Pandora automatically playing the next favorite song. With the aim of understanding capabilities of Siri and Alexa, a speech-powered personal assistant to self-driving vehicle with predicted capabilities add more efficiency to the artificial intelligence system globally. By constant improvement, these systems can only get smarter and more aware.
Public relations have great needs in today’s human society but it is given that artificial intelligence can impact the PR industry globally. Daily PR routine such as developing coverage reports, distributing press releases, and creating automated media lists is getting replace by AI not just locally but in global scale. Studies on the impact of the AI by writing the content of global press releases as well as PR and marketing materials like earning releases and product descriptions. So far AI can’t write all the global information as yet but the global intelligence system is getting smarter by the day. Global AI data is design to transform structured data quickly and accurately to written material, analysis reports. Even though PR is not completely data centric as many other industries but it can use the intelligence to bring global information in one platform to demonstrate ROI of a campaign or marketing.
Entry and mid-level PR folks mainly focused on developing and distributing press releases but AI can execute these function by collecting data globally. Right now, majority if the PR doesn’t believe that AI is a threat to that industry because the machine may not be able to have creativity like human being. But in reality PR should look at AI as an additional assistant. It can make the PR job more efficient by bringing the global intelligence data to their fingertips. Which will spare out more time to focus on developing and implementing creative strategies to create brand awareness, audience engagement, and thought leadership.

Categories
Global Marketing

Global Market Intelligence

In this growing competitive market in the new era with so many technological advances taking place, it is essential for the organizations to keep a track of their competitors in the market. This has proven to be a critical part of the business operations that are placing now and this phenomenon is known as global market intelligence. There are many different ways in which the market intelligence data can be collected. The data obtained from this process is very crucial for the company as it helps them in developing effective strategies and take designs that are important for their success. According to a survey conducted the important for market intelligence as highlighted as 52% predicted that it helps in making a more established status of the company in the market.

A very easy way of collecting the data is the “market intelligence software” which is used by many organizations to transform their data which is about the accounts into information that is important and useful or the sales team to analyze deeply. It is also seen that the market intelligence systems are placed in this way so that they able to crunch the data in order to sanction the superior logistics department along with the operations and tactical decision making. The practice of collecting the market intelligence data has expanded a lot and it is because of the fact of the benefits that the organizations have gained because of it.

According to researches and surveys it is also found that the Global market intelligence by 2020 will be such that it will become very easy for the small companies to jump into big market with their analysis and decision making techniques due to market intelligence techniques. The information that is collected through this method can be used to improve the business models as well as projections of the companies to design their future strategies accordingly.

The easiest way to collect the market intelligence is to visit the website of your competitive companies, analyze the information that is published regarding the number and types of their potential and target customers, what types of marketing strategies they are using in order to stay at the top of competition and other developments that they are making. The customer feedback is also another way in which the business can improve their service and product that they are offering which is also a part of market intelligence.

References:

GIA. (2014). Market Intelligence Trends 2020. Retrieved from Global Intelligence Alliance White Paper website: https://www.m-brain.com/wp-content/uploads/2015/04/11480.pdf

Categories
Global Marketing

Intelligence and profiling

In any industry today, operating globally became an essential part of expanding your business and increasing profit. The demand for data continue to grow, companies need to stay ahead of the curve not by just providing additional content, but more so meet client’s expectation globally on quality and price prospective. Because of the emerging market, the global marketing challenges presents their own set of issues. It has become very important to analyze the risk and manage it by making significant investment in research. Typically, most companies do their due diligence prior to investment and expansion. Using a full intelligence profiling, businesses will be able to protect the business integrity and reduce any additional risk the business may faces. These research can be done in many segments using various infrastructure and surveillance operatives that will let businesses get the most accurate assessment possible.

Investment in research and profiling has gone much farther than just the small improvement on existing products. Companies are profiling based on geographic location to add unique contributors and making sure high quality content has continued. Many consultant groups are providing global activity report to the companies along with portfolio analytics. Each of the intelligence report tailored to specific clients to access the global intelligence information on that industry. It also benefits consumers to have access to the products of their choice based on the geographic location. These intelligence report can also manage the inquiry within a given budget and complete a phased approach if that is preferred by the companies. It gives the benefits of early identification of any potential risk and therefore reduce the cost involved with the final report.
S&P Global, a market intelligence platform, gets into deeper data to help making smarter decision. According to them, data means nothing without collecting it proper sources, analyze them and interpret to the specific business needs. When it comes to analyzing complex business sectors, to them dig deeper is everything. Based on specific industry they provide insights, deep sector analysis, and flexible tools to give a 360-degree view. By offering personal guidance with specific profiling globally, companies can identify new opportunities, mitigate risk, assess a potential deal, or navigation regulations. Warren Breakstone, managing director and general manager, capital markets, at S&P Global Market Intelligence, says the tablet app has taken off: “Users are happy to access research remotely, be able to read it offline and share it with colleagues within a mobile experience.”

https://www.spglobal.com/marketintelligence/en/about/index

Categories
Global Marketing

Global Market intelligence

Global Market Intelligence is a universal strategy is now used by all organizations around the world in order to predict the market trends in the future and how they will design their own strategies. The data that is used for this purpose is known as market intelligence data which basically includes the information that is necessary the target the consumers in the respective market in order for the organization to achieve success. Therefore, in the organization this allows the mangers to analyze and compare the market growth figures and rates with their own so that they are able to make decisions according to it.

There is a difference that exists between the market intelligence data from the business intelligence as it majorly focuses on the interval events or information of other organizations which includes their sales and shipments. On the other hand, all the market intelligence can be collected with the help of the sales team of the company and they are ones who analyze it as well. It is then forward their findings to the marketing and higher authorities so that the proper strategy is designed in order to overcome the competition. The decision provides the organization to make the changes in the relevant areas and grab from the opportunity and make better development.

There are different types of market intelligence trends that are being followed globally, for example just like as mentioned above the information is gathered in different forms. The information of sales, revenues and losses of the company can be collected in the form of reports, news, articles, websites as well as visual referencing. The information that is obtained is used for competitive insight as well as market insight. It is explained as below:

  1. Competitive Insight:

The market intelligence information that is obtained for this insight is either the intelligence of the competitor or the product. This is data about investments, the organizational changes that have taken place along with newly implemented corporate strategies and acquisitions by the company as well. The intelligence about product includes their pricing, cost structure and product promotion strategies adopted.

  1. Market Insight:

The data gathered for this insight includes the market size for which the company is penetrating into along with the market forecasts and technological trends taking place in the recent times. The second one is customer insight and their preferences for the products and brands that they have interest in.

 

 

References

Schmidt, S. (2016, January 21). A Quick Guide to Market Intelligence. Retrieved from https://blog.marketresearch.com/a-quick-guide-to-market-intelligenceA Quick Guide to Market Intelligence

 

 

 

 

Categories
Global Marketing

Global Intelligence and Human Development

In today’s world, mankind is face with many threats such as terrorism, nuclear war, environmental demolition where we need to arise from it by working together. Many experts argue that the changes could be through education. Not just education that are found in today’s school but more so education about different religion, culture, behaviors. Create an atmosphere to learn about just not just local but global also. If we all are working collectively to change how we interact with one another and with nature, we might be able go one step closer reducing various threats. Recent years we noticed the growth in developing global collective intelligence systems as a response to the potential global threats and to create a better future for mankind. the Millennium Project is a great example where it shows 15 global challenges that mankind is facing across a wide range of domain which includes clean water, population and resources, health issues, energy, democratization the rich–poor gap, peace and conflict, transnational organized crime, science and technology, the status of women, and so on. The means of this project is to plan to integrate global network of nodes, IT, and software, manifesting elements of a prototypical global collective intelligence system.
Let’s discuss one of the issue “Global climate change and sustainable development”. This is one of the major problem which has many connections with natural, social, economic, and technical components. This problem can’t be address by only government, institution one entity acting alone. To solve this issue requires collaborating with each and communicate well to make a collective decision among governments, international organizations, corporations, universities, non-governmental organizations (NGOs), and creative individuals on a global scale. Global intelligence serves the need here by collecting efforts of many individual entities via collaboration and competition, and shows in a consensus of decision and policy making. In humanistic studies, Mihai I. Spariosu gave a definition of global intelligence in his 2004 book Global Intelligence and Human Development. In the book Global intelligence was defined as “the ability to understand, respond to, and work toward what is in the best interest of and will benefit all human beings and all other life on our planet” (p,6). Author also mentioned that there are not one stop or premade solution to this issues, but we need to work all together throughout the planet to make it a better place for mankind and all our natural habitats.

References
https://books.google.com/books/about/Global_Intelligence_and_Human_Developmen.html?id=CNSYjjUNtYEC&printsec=frontcover&source=kp_read_button#v=onepage&q&f=false

Categories
Global Marketing

Global Marketing Intelligence

Marketing Intelligence is a strategy that is used by many organizations in order to predict the market trends in the future as well as the ones going on. It is becoming quite popular nowadays and every company is employing this tool to analyze different business areas such as competition, products, customer insights and other market dynamics to gain more profits and revenues for their brand or service.

This global market intelligence phenomenon covers four main areas which are given as following:

  • The designing of corporate strategy for the organization which is made by the executive teams
  • Pricing, promotion and the cost structure of the product or service
  • Analysis of the market size, forecasts and trends that are ongoing in the market and business
  • How to develop brand loyalty and increase satisfaction rates among the customers

There are many ways in which an organization makes their global intelligence reports or plan out this strategy which includes procedures and data sources that are used by both the marketing and executive team. The market reporters play a very important role in gathering information on how the market is doing at the moment and whether their product is or will do well in the given conditions. Intelligence basically means to use your mind and relevant information to predict or formulate something, hence in the global market intelligence phenomena the information gather by the market reports is used to make plans and strategies by organizations. For example many companies are used for this purpose such as the reports from companies such as Forrester Research and Neilson are employed by the brands.

Second type of market intelligence globally is competitive information. This is done by gathering the industry reports, news, articles and websites of the brands in competition. Many of the small or startup companies use this information to learn and predict about the competitor’s investments, their organizational changes and the strategies they are using.

Lastly the way in which global market intelligence can be used is through internal databases which the marketing managers employ. It therefore allows the companies to create their profiles of the customers, their needs and how to earn their loyalty. The competitive intelligence is mostly used by the smaller companies and predict about the market weakness, strengths, opportunities and threats for their product or service that they will put out in the market under their brand name.

 

 

References

Schmidt, S. (2016, January 21). A Quick Guide to Market Intelligence. Retrieved from https://blog.marketresearch.com/a-quick-guide-to-market-intelligenceA Quick Guide to Market Intelligence

 

 

 

 

Categories
Global Marketing

Global Market Intelligence

 

The trends that the Global Market Intelligence will able to see in 2020 have been made with the help of professionals around the world. Since it is considered to be an effective methodology in order to deal with issues that are faced by many organizations in the global market, it also has trends and themes which can be predicted accordingly. Some of the major trends that are predicted by the survey conducted by the Global Intelligence Alliance state that 22% market intelligence professionals predict a move towards more strategic role. 17% state that it will become an integrated and central part of any organizational structure. Lastly 12% predict that GMI will have a more established status in the company/organization.

The most important aspect of global market intelligence is that it supports and helps in an effective and strategic decision making process. Hence insightful and shrewd decisions help in gaining a competitive edge over the competitors in the market which in turn allows the organization to succeed in the changing market conditions. This approach is used by many organizations in order to enter a new market or know about the latest trends in order to avoid any kind of losses. According to a successful GMI professional, this programs needs to be able to quickly respond to the requests that are made by management and then outsourced if it does not show major strategic value to the company (Henry, 1983).

According to the survey it is also seen that this as the method is adopted by many companies now days, the competition in the market has become even tougher. Therefore, the market intelligence teams need to come up with more and more ideas in order to keep up with the changing market trends and avoid any kind of losses for the organization.  For example, a case study as well the survey conducted concluded that “Big Data” will tend to have a very high impact on the Global Market Intelligence by 2020. It was found that 78% of the professionals agree to it and Social media will only have 58% effect on the global market intelligence (GIA,2014). This seems to be a very big difference as now a day it is Social media that is having the maximum impact on the changing market trends across the globe. Social media will also continue to be the most direct and easy available communication channel between the organizations and the people.

 

 

 

 

 

References:

Henry, J. (1983). Marketing Intelligence & Planning. Journal of Marketing Practice:

Applied Marketing Science merged into Marketing, 36(1).

GIA. (2014). Market Intelligence Trends 2020. Retrieved from Global Intelligence Alliance White Paper website: https://www.m-brain.com/wp-content/uploads/2015/04/11480.pdf