Market Intelligence System Là Gì

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Market Intelligence System Là Gì – Home / Learning / Construction Professional #1: Distinguishing Sales Intelligence, Business Intelligence vs Market Intelligence Platform HOUSELINK

(HOUSELINK) – All business related decisions should be based on analysis of real data. How can businesses source accurate data for decision making? Sales intelligence, business intelligence, and market intelligence are the tools that manufacturing businesses need to know and effectively exploit.

Market Intelligence System Là Gì

Sales intelligence, business intelligence, and market intelligence all combine technology to manage information, evaluate and measure information, thereby turning it into useful data to meet their needs.

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So how do these 3 tools differ? What tools should be used in each business decision? How can they be used effectively?

Sales Intelligence (SI) is a technology integration system for collecting, integrating, analyzing and processing customer data to help sales personnel search, track information, analyze customer behavior and thereby make appropriate business decisions.

Sales Intelligence (SI) data is based on detailed information about potential and existing customers. Information is collected through marketing and customer search activities, internal customer data and open data.

Businesses use sales intelligence to improve the quality and quantity of sales leads. SI supports sales personnel in identifying, exploiting and converting business opportunities. Sales intelligence can be or include customer relationship data (CRM – Customer Relationship Management).

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SI provides an overview of an enterprise’s business operations and is a tool for sales personnel, sales managers, and marketing departments. The tool updates customer data and behavior in real-time, providing support to provide useful information and recommendations for sales decisions. Based on that, there is a valid basis for identifying customers and taking operational decisions like up-sell, cross-sell and switch-sell.

Business Intelligence (BI) is a technology-integrated system model used by businesses to process large amounts of business data coming from various sources. Through this system, businesses can effectively exploit data sources, generate new knowledge, and help managers make more effective decisions in operations.

BI data comes from ERP, CRM, or other internal business management software such as accounting software. The process of bringing data from the source system to the BI system’s data warehouse is called ETL (Extract – Transform – Load).

BI is an application that helps businesses analyze business operations to make better decisions to improve operations. By providing a comprehensive view of all business activities from past, present and future forecasts. Therefore, a BI system is also called a Decision Support System (DSS).

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Business intelligence supports managers in managing internal information and exploring knowledge to help businesses formulate business strategies.

By determining a business’s position and competitiveness, analyzing customer behavior, retaining valuable customers, predicting potential customers, determining marketing goals and strategies, predicting the future of businesses, business intelligence supports more effective business decision-making.

Market Intelligence (MI) provides comprehensive data related to a business’s field and industry – specifically collecting and analyzing data on trends, competitors, customers (past, existing, potential customers), products, … to make more accurate strategic decisions. Captures business opportunities (market opportunity), market penetration (market penetration) and business development (market development).

Market intelligence data collected from outside the business such as market news, business news, surveys/market research, market and social media, real-time updates on what’s happening in the market… MI data supports the most comprehensive assessment of how the whole is doing. Market functions include: competitive intelligence, product intelligence, market understanding, and customer insight.

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HOUSELINK Market Information Platform is the first market intelligence model in the Vietnamese construction industry. Data is aggregated, updated and digitized on a technology platform.

A market intelligence system is not only a useful tool that helps businesses differentiate themselves from their competitors, but also provides valuable information for businesses to continuously develop:

For example, a manufacturing business wants to expand its business in the industrial construction segment. They need to research market segments, they need data to measure and analyze this market, they need detailed information about this market, new customer files, …  Market intelligence “solves problems” for businesses. Businesses can focus their efforts on the right target audience in the market, thereby saving cost and effort.

Compared to business intelligence, which only exploits data within the business, market intelligence collects market data. The purpose of incorporating market intelligence into the process of building business intelligence is to provide business managers with an “overview” of the market in defined terms.

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Building market intelligence is a task that requires a large investment of time and expertise. The market intelligence department of the business development department should work with a professional consulting unit (agency) to ensure that the information “gaps” of the business are always filled. Acting as an intermediary between the business and the agency, this department manages information, selects and analyzes useful and business-related information to participate in strategic business development decision-making.

HOUSELINK became the first market intelligence solution provider in the Vietnamese construction industry market. Market intelligence & e-bidding platform HOUSELINK provides businesses with the tools to exploit market information in the form of self-service, meaning users can search and select information themselves and exploit information effectively. Results with the support of a consulting team. Two-way updated data from the work of professional market analysts and contributions from member businesses participating in the platform.

The construction industry is in an era of intense competition. If the business model is not very different, businesses in the industry need to exploit new markets through new approaches to continue development and competition in the market.

Top 1 Reputed Construction Contractor 2020 – Howa Bin has extensive experience and impressive achievements with a long list of large projects and clients. As the oldest construction enterprise, with particular strength in the commercial construction segment, Howa Bin is not afraid to invest in digital technology to help develop its industrial construction market segment:

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US based EPC general contractor with 55 years of experience in designing and building construction projects globally. Penetrating the Vietnamese market, with excellent technical application solutions, however, Haskell still places great emphasis on market intelligence applications that can understand the local market and develop business successfully.

Read more: Manufacturing Story #1: The Haskell Company – Journey to Optimize Manufacturing

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