Survey: Energy Companies Need to Increase Focus on Customer and Competitive intelligence
Global Intelligence Alliance releases results from its 2011 Global Market Intelligence Survey, which show that while internal customer satisfaction levels for market intelligence operations at energy, resources and environment companies are high.
- (1888PressRelease) October 27, 2011 - Global Intelligence Alliance (GIA), a global strategic market intelligence and advisory group, releases results from its 2011 Global Market Intelligence Survey, which show that while internal customer satisfaction levels for market intelligence operations at energy, resources and environment companies are high, they lag behind other industries in customer and competitive intelligence.
Almost all industry players in the energy, resources and environment sectors have systematic market intelligence operations. Internal customer satisfaction even outpaces satisfaction levels in the Financial Services, Technology, Telecommunications and Media or even the Logistics and Transportation sectors.
However, the 2011 Global Market Intelligence Survey also shows that energy, resources and environment companies lag behind other industries in customer and competitive intelligence. Energy companies have not focused their intelligence activities on sales and marketing as much as companies in the Technology, Telecommunications and Media or even the Logistics and Transportation sectors.
This is changing, particularly with the emergence of new competitors in the clean technology sector. Globally, the smart grid business has opened the development of the power infrastructure to a number of new players, particularly from the technology, telecommunications or media industries. New market entrants are also developing bioenergy, wind or solar power solutions. All this means that competitive and customer intelligence has become more critical than ever.
These are some of the conclusions regarding market intelligence within the manufacturing and industrial industry from the 2011 Global Market Intelligence Survey. The study surveyed 989 companies across North America, Latin America, Europe and Asia Pacific, of which 44 respondents were global energy, resources and environment companies. Conducted in March 2011, the online survey looked at the state of market intelligence, the perceived benefits, how it supports decision-making, and anticipated future developments.
Some of the key survey findings include:
• 100% of energy, resources and environment respondents agree that they have benefited from market intelligence.
• The majority (75%) tend to have mid-sized teams of five or less people.
• 81% think that their market intelligence investments have paid off.
• 73% plan to increase their investments in market intelligence over 2012-2013, with 21% saying that they would increase them significantly.
• Excluding HR costs, the average budget allocated to market intelligence is slightly more than 0.5 million Euros or $0.7 million US dollars. Including HR, the total market intelligence budget is more than 2 million Euros or $2.8million US dollars on average.
For other information, visit the www.globalintelligence.com or send an email to media(a)globalintelligence.com.
About Global Intelligence Alliance
Global Intelligence Alliance (GIA) is a strategic market intelligence and advisory group. GIA was formed in 1995 when a team of market intelligence specialists, management consultants, industry analysts and technology experts came together to build a powerful suite of customized solutions ranging from outsourced market monitoring services and software, to strategic analysis and advisory.
Today, we are the preferred partner for organizations seeking to understand, compete and grow in international markets. Our industry expertise and coverage of over 100 countries enables our customers to make better informed decisions worldwide.
www.globalintelligence.com
About the Global Market Intelligence Survey
The Global Market Intelligence Survey looks into the current state of Market Intelligence activities in international companies and the perceived benefits, how market intelligence supports decision-making, and the anticipated future developments across geographical regions and industries.
The 2011 Global Market Intelligence Survey is the fifth in a series and involved 989 respondents in an online questionnaire in March 2011. Most of the questions were of multiple-choice format to facilitate quantitative analysis. Open questions were also included to add to the level of insight. English was used as the survey language in most countries, while translations to Czech, French, Japanese, Portuguese, Russian and Spanish were also in circulation in parts of Latin America, Europe and Africa.
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