Market intelligence
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Market intelligence is the information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining strategy in areas such as market opportunity, market penetration strategy, and market development.[1]
Market intelligence includes gathering of data from the company’s external environment, whereas the Business intelligence process primarily is based on internal recorded events – such as sales, shipments and purchases. The purpose of incorporating Market Information or intelligence into the Business Intelligence process is to provide decision makers with a more “complete picture” of ongoing corporate performance in a set of given market conditions.[2]