Market intelligence is the process of examining data and information about a market in order to fully understand its size, structure, and current situation. Information can be acquired by analyzing proprietary data as well as publicly available sources including industry reports, government statistics, and surveys.
Market intelligence assists businesses in identifying new opportunities and threats, comparing their performance against rivals, developing marketing plans, scheduling product releases, and handling crises.
Marketers may get a comprehensive picture of what is and isn't working by gathering and analyzing contextual data on customer and industry trends and behaviors. This can provide organizations with a significant competitive advantage, and offer insights into their various products and target audience.