The following Infographic is from the New Jersey Institute of Technology. It fits nicely this week with our series of posts and discussions in the coming week on SLMA and CRM Radio about the skill of Digital Analytics and salaries of marketing people that work with the results on marketing intelligence.
This is an especially insightful visual guide from a source that isn't biased in its approach.
Why it's Important
Market intelligence (MI) refers to data that uncovers information about a product’s market, which is then used to shape strategies around advertising, market penetration and new products. By devoting time and resources toward gathering and analyzing MI, some companies have been able to rise above their competitors.
However, despite the many uses of market intelligence data, experts in the field today have access to more useful customer data than they can reasonably analyze. This is known as the Big Data Paradox.
To learn more, checkout the infographic below created by New Jersey Institute of Technology’s Online Master of Business Administration degree program.