Skip to content

Turning Data into Market Intelligence

Identifying Your Position

It’s important to monitor the market on an ongoing basis to review competitor trends and consumer behavior. Researching and analyzing this information turns this vital data into intelligence. This is a transformation of sorts, giving this market information meaning and which can be used to take further action and develop marketing plans. Ultimately, this market intelligence gathering will distinguish the brand from the competition, giving it an advantage in the marketplace. In addition to the holistic view of the market, this intelligence gathering will also improve customer retention, enhance the sales process, and boost efficiency and productivity.

Whether you are a new company or an established business, you must first identify your goals. What are you trying to achieve with your market intelligence efforts? According to an article on market intelligence in Search Engine Journal, data is the key to answer many questions about the business. These questions, per SEJ, could include:

  • Do our company goals align with the current market?
  • What market(s) are a good fit for our brand? Should we consider expanding or focusing on a niche?
  • Does our business need to shift resources to meet our goals?
  • How do customers go about purchasing our product?
  • How do customers become aware of our product?
  • What does our ideal target customer look like?
  • What are competitors doing that we’re not?

Searching for Data Intelligence

In All Things Insights’ “Reinventing the Data Relationship,” we brought the data science community together to look at the partnership between data and business stakeholders. Just like with market intelligence gathering, the focus is now on what the data can do for the organization to outpace disruption, provide innovation and ultimately serve the current customer better. Business leaders and data science strategy executives joined forces at the All Things Insights MADS Continued Gathering. Looking back and looking ahead, these data science experts examined their analytics strategies in the context of the current economic environment.

Working With Insights

Market intelligence and insights are closely related concepts that can work together to provide a comprehensive understanding of a market, industry, or business environment. Once you have your market intelligence data, insights can go beyond the raw data and involve interpreting and deriving meaningful conclusions from the collected information. We asked ChatGPT to explore ways that market intelligence and insights intersect.

  1. Data Collection and Analysis: Market intelligence starts with collecting a wide range of data from different sources. This data includes market size, growth rates, competitor strategies, customer behavior, and more. Once collected, this data is analyzed to identify patterns, trends, and anomalies.
  2. Insight Generation: The analysis of the collected data leads to the generation of insights. These insights could be about emerging market trends, changing customer preferences, competitive strengths and weaknesses, or even potential gaps in the market.
  3. Informed Decision-Making: Market intelligence provides the foundation of factual information, while insights add depth and context. Together, they help decision-makers understand the implications of the data and make informed strategic choices.
  4. Validation and Strategy Development: Insights derived from data analysis are often validated using market intelligence to ensure their accuracy and reliability. Once validated, these insights play a crucial role in shaping business strategies, product development, marketing campaigns, and more.
  5. Continuous Learning: Both market intelligence and insights are ongoing processes. As the market evolves, new data is collected, and insights are updated. By continuously integrating new information and refining insights, businesses can stay competitive and adapt to changing market conditions.
  6. Feedback Loop: Insights can lead to adjustments in data collection strategies. If an insight reveals a gap in the data collected, market intelligence efforts can be adjusted to gather the missing information.

Finding the Right Patterns

In essence, market intelligence provides the data-driven context, while insights provide the strategic understanding that enables businesses to make effective decisions and navigate the market. Integrating both approaches ensures a well-rounded perspective on the market and drives more impactful actions.

Whether you are undertaking competitor intelligence, product intelligence, or market or customer understanding, collecting data is just the first step—next, one must unpack such data. As HubSpot notes in its article “How Market Intelligence Will Make Your Marketing Team More Agile,”: “Having a clear direction is essential during this stage to narrow down what data to focus on. You’ll be compiling a lot of data, and not all of it will be relevant to your main objective. Knowing which will be most impactful will save you time and allow you to use your resources efficiently.”

Video courtesy of Crayon Competitive Intelligence


  • Matt Kramer

    Matthew Kramer is the Digital Editor for All Things Insights & All Things Innovation. He has over 20 years of experience working in publishing and media companies, on a variety of business-to-business publications, websites and trade shows.

    View all posts

Related Content

Building Empathy to Improve Insights

While customer centricity is a key attribute in today’s insights and data-driven corporate culture, success must also be built on a concept of empathy…

Driving Analytics & Insights Action

At this year’s TMRE @ Home, Shivani Shah, National Category & Shopper Insights Manager, H&WB, Church & Dwight Co., Inc., presented the session, “Data…


More Related Content

Happy family of four and dog walking on the beach by the ocean.
data science

Building Empathy to Improve Insights

While customer centricity is a key attribute in today’s insights and data-driven corporate culture, success must also be built on a concept of empathy…

Many colored arrows pointing to the center of the graphic.
actionable insights

Driving Analytics & Insights Action

At this year’s TMRE @ Home, Shivani Shah, National Category & Shopper Insights Manager, H&WB, Church & Dwight Co., Inc., presented the session, “Data…

Vortex-like laser images in space like setting.
data science

Finding the Right AI Research Opportunities

As part of the AI & Tech Summit portion of this year’s TMRE @ Home virtual gathering, David Iudica, SVP, Research and Insights: Retail and Wealth, Cit…

Kids sliding down a big water slide on rafts.
customer value

Mastering Funnel Analytics

Funnel analytics is an area of insights that perhaps doesn’t get as much attention as it should. We are all probably familiar with the sales and marke…

Hands shaping a clay pot on the potter wheel.
market research mission

Positioning the Market Research Mission

Just how should the enterprise and the team go about determining its market research mission? This specific market research mission is not necessarily…

Book with pages flying open.
insights talent

Learning the Soft Skills of Market Research

Skills can be developed in a variety of ways in the insights workplace to create an effective, versatile employee with a diverse arsenal of competenci…

Gold bars
media insights

Determining the Value of Business Content

Michael Bagalman, Vice President, Business Intelligence and Data Science, STARZ, gave a presentation at the Media Insights & Engagement Conference, ca…

data science

Defining Governance to Deliver Data Benefits

Big data is here, it’s a growing trend and it’s not going away anytime soon. The rise of artificial intelligence and other technological developments…

actionable insights

Diving Deeper into Insights ROI

The third day of TMRE@Home, May 2, will demonstrate best practices involved in developing and positioning insights ROI. Fusing AI, data and analytics…

data quality

Blending Analytics & Insights

The second day of TMRE@Home, May 1, will demonstrate best practices involved in marrying analytics with insights. Insights from analytics can be an ev…

data science

Plugging into the Future With AI

TMRE@Home is going to be held virtually this year from April 30 to May 2, 2024, and it will feature several educational tracks for insights and market…

data storytelling

Building the Analytics & Insights Ecosystem

The recent TMRE Continued virtual event hosted a session, “Blending Analytics & Insights to Drive Business Outcomes.” Moderated by All Things Insights…

insights and AI

Operationalizing a Hybrid Approach to AI

In “Insights + AI: Operationalizing A Hybrid Approach,” Christina Speck, Vice President, Corporate Strategy & Commercial Product, Blue Cross & Blue Sh…

data science

Finding the Right Machine Learning Formula

In “Machine Learning: Optimizing Ad Campaigns,” Michael Bagalman, Vice President, Business Intelligence and Data Science, STARZ, explored machine lear…

user engagement

Getting Social to Measure User Engagement

Social media is changing in sometimes complex ways as featured content generated by users in a private capacity has often been supplemented and perhap…

insights culture

Navigating to Insights ROI

All Things Insights’ Seth Adler had a chance to sit down and get cooking with Jordan Cusner, Head of Guest Insights, Popeyes Louisiana Kitchen at TMRE…

Data Science & Analytics Strategy
data analytics

Reinventing the Data Relationship

The reinvention of the relationship between enterprise data science and business stakeholders is upon us. The focus is now on what the data can do for…

insights ROI

Diving Deeper into Measuring Insights ROI

If you can measure it, you can manage it. Insights leaders came together on this panel discussion on “Measuring Insights ROI” to share their respectiv…

actionable insights

Demystifying Insights ROI

Key challenges come into translating business insights into ROI. This includes data quality, research bias, no direct translation of insights into bus…

actionable insights

Establishing Insights ROI

In a recent ATI Gathering…Insights ROI, the community looked at the complex issue of insights return on investment from several different angles. Co…

business insights

Balancing Insights with Uncertainty

Uncertainty abounds, from inflation and layoffs to bank failures and talk of recession, to robust job reports, financial resilience, and the strength…

data analytics

Unifying Data Analytics and Insights

To be human or not to be human? That is a relevant question in today’s technology-driven society, and one we posed when thinking about unifying data a…

data driven culture

Gaining Insights Leadership

The role of today’s Insights professional is evolving as Insights teams are increasingly pressured to connect data sources, surface consumer stories a…

television audience measurement

Measuring OTA Programming

Television audience measurement is on the precipice of innovation due to the opportunity to leverage data from set top boxes, smart TV’s, and other so…

media insights

Media Industry Insights

It’s not unreasonable to feel overwhelmed when faced with the size and scope of the continuous shifts in the television industry within the past few d…

media insights

Media Insights Report

The All Things Insights Media Insights community completed an extensive survey covering what folks are thinking, how they’re spending and the issues t…

data analytics

Interpreting Data

Data isn’t just a set of numbers in a spreadsheet that sits there collecting digital dust. Michael Nevksi, the Director of Global Insights at Visa, no…

data analytics

Data Fluency

Data fluency and how it applies to an organization is essential for a business to thrive – according to Bob Bress, Vice President and Head of Data S…

media insights

Super Insights

Talking with Peter Leimbach, Senior Vice President, Ad Sales Research at FOX Sports, it’s clear that pro football teams aren’t the only ones competing…

data analytics

Digestible Insights

Business founders and leaders are proud of their accomplishments and with good reason. They have led their operations, often for decades and through s…

insights strategy

Timely Insights

“May you live in interesting times.” We are all familiar with this curse (or blessing, depending on how you see it). Many of us even know it as Chines…

insights strategy

Insights Enablers

Over the past two and a half years, there “have been more DIY projects” thus “Insights teams are moving more to becoming consultants and enablers fro…

data analytics

Pandemic Analytics Insights

It is reported that after the pandemic that 50% more customers and teams will use Business Intelligence tools. “Adapting, moving online, and having a…

actionable insights

Data, Analytics, Insights & Action

If you watch June Dershewitz when she’s not looking, you might catch sight of her cape. She is a superhero in the world of data. Her goal is to make t…


One Way To Insights ROI

“It’s not only a ‘feel good’ thing anymore. It is actually something that is reflected in profits.” DEI is a business issue. Once nice to have, the co…

data analytics

Insights On Outpacing Further Disruption

The axiom, ‘May you live in interesting times,’ is cited as both an expression as well as a curse. Its origin is foggy. For the past couple of decades…

user experience

UX Insights

Shilpi Sinha is not only speaking at TMRE but joining the pre-event Innovating Insights Workshop as a table co-host. Both the session on the agenda an…

data science

Data Culture

Global society and business continues to shift from decisions informing data to data informing decisions. That is to say, for most of human history, a…

business resilience

Insights Resilience

Way back at the beginning of our modern almost apocalypse, there was one term used across the globe and up and down the organization- resilience. Faci…

media insights

Measurement, Currency and Attribution

Keeping pace with innovation is always a challenge. The Media industry not only has to keep pace with that innovation, many players have offerings tha…

business intelligence

Empowering Breakthrough Insights

Empowering insights through a broader understanding of the business can happen if there are consistent breakthrough brand insights being served to the…


The Missing Link Between Data And Business

2022 has proven to be a year of change. While lingering reminders persist, the past two years are falling further and further back in the rear view mi…