Your business’s DNA a mysterious art?
There was a time when market research was not given much importance. But as time changed, market research has become a vital part of business. The practice of gathering information has made to improve their decision-making. To determine the scope or market presence of the company, market intelligence team is acquired, which determines the opportunity, builds strategy, advice on how to benefit more.
Market research and market intelligence are two synonymous term. Theoretically, market intelligence is the branch of market research, also known as the market assessment research, designed to establish the company in the market. The typical areas of the market is looked into by market intelligence team like the competitor analysis, market size, analysing data on market research, growth predictions, etc for any sector of the market, may it be- the retail, FMCG, telecom, healthcare, pharma, IT, education, infrastructure etc.
It is seen that market intelligence is often mistaken by Business intelligence (BI). Business intelligence is specified to all the information that the company use to make decision, which is mostly data related, rather than the market components. Sales data, financial data and production data, are collected internally, without using outside agencies. Whereas, market intelligence deal with the external components of the market. The market research and internal departments provide information of the externally components of the market to the market intelligence team. It is mostly managed in-house.
Market Quotient has a team of market research as well as market intelligence professionals, who foresee the components of the market, and categorize the market with proper analysis. They prioritize upon combining latest technology with the techniques of marketing research, data analysis and tabulation services. Hence, offering an entire collection of market research services that help in the flourishing of businesses. To know more about Market Quotient, please feel free to drop in at contact@marketquotient.com.
