US Companies Lag Behind Europe and Asia in Some Aspects of Market Intelligence, Reveals GIA Conference Chairman
The United States boasts one of the largest concentration of companies with highly developed market and competitive intelligence capabilities in the world (84%) compared to the global average of 64 percent, yet the US falls behind Europe and Asia Pacific when it comes to efficient decision making.
- (1888PressRelease) July 30, 2013 - According to the 2013 Global Market Intelligence Survey, they also suffer the most from incomplete or inaccurate information and are less likely to support their decision with intelligence.
The good news is that 89 percent of US companies agree that they have benefited from their market intelligence programs, and 82 percent think their investments have paid-off. More however, can be done to develop the intelligence capabilities at US companies to world class levels.
According to benchmarks used in the research, companies that have the most advanced market intelligence functions have increased the amount of intelligence delivered directly to their top management to 46% since 2011, compared with only 36% for an 'average' company. Such world class market intelligence companies have been proven to be 28% more efficient in decision-making. Their market intelligence executives are also 33% more likely to be viewed as trusted advisors to top management and serve 50% more internal clients using efficient software tools.
To facilitate corporate efforts in North America to develop world class market intelligence skills and capabilities, the 2013 GIA Conference will return to Chicago in October 14-16 to cover global best practices for important market intelligence topics. These include future insight methods and strategy; market sizing; early warning; best-in-class street intelligence practices and sales enablement; best practices in setting up intelligence programs; benchmarking advanced intelligence programs; building high-impact intelligence networks; and developing strategic advisory roles and actionable deliverables. Confirmed speakers so far include market intelligence experts from Angry Birds/Rovio Entertainment, Allscripts, Cintas, Fiserv, Hewlett-Packard, IBM, Intertek, Johnson Controls, MasterCard, Merck & Co., MillerCoors, Navistar, Parker Hannifin, and Shell.
Organized by Global Intelligence Alliance (GIA), the GIA Conference excludes external vendors, and focuses solely on education and best practice sharing on intelligence development, and provides extensive networking opportunities. A unique feature of the GIA Conference includes company specific pre-conference assessments, as well as post-event advisory meetings to guarantee that the participation becomes a learning experience with real impact and results that can be acted upon.
Past attendees have rated past GIA Conferences an average of 4.7 out of the maximum score of five, with 100 percent of the participants saying that they would recommend the Conference to others. The event is designed for senior executives in strategy, sales and business development as well as individuals responsible for market and competitive intelligence departments and analysis projects.
"Our study shows that some companies in the US can spend as much as US$50 million a year on market intelligence, excluding staff costs. By picking up more world class best practices, US companies can increase their decision making efficiency and achieve significant benefits and advantages over their competition. But it is crucial that US companies learn to be productive with their investments and focus their efforts on creating true impact. It is also critical that organizations learn to use market intelligence to examine their entire business eco-system, and not just look at their competition alone. Our aim is to provide a unique environment for such learning, and I believe we have created our strongest ever event with an exceptional set of best practices to be shared in Chicago this October," said Jouko Virtanen, Senior Vice President of Americas for GIA, and chairman of the GIA Conferences in North America.
To be held at the Hotel Allegro in Chicago, the 2013 GIA Conference also offers promotional fares for conference participants who choose to fly on American Airlines.
For further information, visit the www.globalintelligence.com or send an email to media ( @ ) globalintelligence dot com dot
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 2013 Global Market Intelligence Survey measures the state of market intelligence around the world. It is the sixth in a series of such surveys by GIA.
Over 1,200 decision makers and market intelligence managers from over 880 companies and 64 different countries took part in an online questionnaire between February and April 2013, making it the largest study on market intelligence to date. The survey results are useful for any company that wishes to benchmark its market intelligence capabilities against its peers and competitors around the world, in the face of increasing competitive pressures.
The full report can be downloaded for free from http://bit.ly/GIAmiS
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