Market and Competitive Intelligence Solution- Redefining CI/MI Paradigms

1. The Four Rules Market and Competitive Intelligence Solution- Redefining CI/MI Paradigms

2. Table of Contents • Introduction • 4 Rules ‘ABCT’ to face the competitive challenges of 2020s • Challenging assumptions (A) • Identification of Blind-Spots (B) • Cultural intelligence (C) • Timeline analysis (T) • Conclusions and takeaways

3. Introduction • Overview: How technology-driven competitive advantage is leading businesses to growth

4. Introduction The future belongs to those who see external threats before they become obvious to others • The organizations need to recognize, prioritize, and adapt to the range of real external threats that now impact competitive advantage. • Actively monitoring external threats is not a new concept in the business landscape, rather its use cases are available around us for ages. • In the world of sport, scouts are employed to spot precocious talent as well as monitor their rivals • A merchant shipping captain has a team not only to keep an eye on the internal instrumentation and numbers but also to keep a 24 x 7 eye on the horizon for danger. • Risk assessment is deeply engrained in all military leaders. • Governments have their “eyes and ears” on the ground in countries around the world. • Employees are taught to consider the 3 Ps of people, process, and platform but it would not be able to work unless leadership teams see an early warning radar as an investment rather than a cost.

5. Four Rules ‘ABCT’ to face the challenges of 2020s • Challenging assumptions (A) • Identification of Blind-Spots (B) • Cultural intelligence (C) • Timeline analysis (T)

6. Challenging assumptions (A) An internal market analyst should be expected to challenge internal assumptions that are not robust. The analyst needs to be skeptical by nature. From the 3 P’s, we can add Four Rules ‘ABCT’ to face the challenges of 2020s Identification of Blind-Spots (B) It is rightly said - “We do not know what we do not know”. An empowered analyst needs to minimize the frequency and nature of a surprise. Cultural intelligence (C) Moving from SWOT to TOWS is the future of competitive intelligence. TOWS, is a more powerful way of thinking. Timeline analysis (T) Following competitor actions and analyzing the timeline of events is where most organizations fail.

7. Challenging assumptions (A) It is imperative for an internal market analyst to challenge the internal mainstream assumptions • The best way for the analyst is to combine both primary and secondary intelligence. • The analyst needs to critically analyze each insight according to the market research. • The role of a technology-driven market intelligence system is crucial here. • The competitive market intelligence platform easily accesses relevant data for giving evidence to challenge data insight. • But to solve this crucial purpose, appropriate budget needs to be allocated by the management and strategy team to report facts that support quality decision making. • The All England Club (who runs the Wimbledon Tennis Championships) invested £1.5m per annum in a virus-related insurance clause. Wimbledon Tennis now benefit from this clause that is set to be worth over £100m. In hindsight, the early signals of the pandemic did exist. How easy would it have been for a manager of the All England Club to cancel their £1.5m insurance premium citing “cost” as an excuse?

8. Identification of Blind-Spots (B) It is rightly said - “We do not know what we do not know”. • Nowadays, the leaders in the industry are recognized by their preparedness for the alarming circumstances. • Businesses need to know threat before they are born to stay up in the race of competitive industries. • With the strides of AI /machine learning accompanied with human intelligence, organizations now leverage technology to gain actionable insights and minimize the chances of surprise in case of negative impacts to businesses. • Organizations pursuing to level up need to invest in their processes and market intelligence to build efficient early warning systems that captures and shares relevant industry information throughout their enterprise. • Employees should be encouraged to challenge and raise red flags when further investigation is required.

9. Cultural intelligence (C) Moving from SWOT to TOWS is the future of competitive intelligence • Market analyst are taught SWOT but a better model is the one which identifies external risks first. So, TOWS is more powerful way of thinking. • The key is to always be skeptical of the analytics and the data you get hold of. • But the challenge of the time-pressured insight teams is to examine their ever-changing environment to assess the level of change. • This produces a gap in understanding of the competitors’ business culture and reporting it to senior leaders without deference to hierarchy. • So, to nullify such prejudices in the system, there is need for Cultural Intelligence to correctly identify mistakes and deploy win-loss analysis.

10. Timeline analysis (T) Following competitor actions and analyzing the timeline of events is where most organizations fail. • Mostly organizations are blind-sided by a direct rival achieving the necessary licenses and/or reimbursement to go to market quicker than one could possibly imagine. • Organizations not equipped with risk management techniques and data are often taken by surprise when a competitor launches a radical innovation or similar development takes place which was not foreseen by analyst. • Timeline analysis with other strategic measures of decision-making is a necessary step. • Such requirements become the cause for leading organizations across industries to connect with a reputed market and competitive intelligence company and leverage their technology to minimize or eliminate these risks.

11. Conclusions and takeaways

12. Key takeaways • The buy-in for using market and competitive intelligence platform is supposed to come from senior management team who understand the importance of risk management from market analytics. • Competitive analysis results in saving cost from substantial error of judgement. • Many senior strategist present cases where secondary monitoring capability helps them save and fix from multi-million-dollar mistakes. • Such leaders also consider these 4 rules (ABCT) as criterions of connecting current intelligence to find new alliances, new partnerships, innovations, and new opportunities to grow further. Competitive Market Intelligence as a capability optimizes the efficiencies of the organization and supports better internal decision making

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