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.
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