Even the greatest mind can get a headache from the ever-expanding business environment. But if done correctly and in a systematic way, putting small pieces of information together will create a pattern that is easy to understand. True insight is based on three sources of information: published information, unpublished information and internal knowledge.
It sounds easy, yet many overestimate the value of true market intelligence combined with structured analysis. An overload of data is not something that should be avoided. Instead, you can take advantage of the opportunities it might bring. Through customized analyses combined with technological solutions you can get actionable strategic intelligence to make more informed decisions.
Starting a strategic analysis project with togetherness
A strategic analysis project should typically start by understanding more about the business, strategic intentions and what is already known about the industry. But before jumping ahead, one of the most important parts of a projects should be a close relationship. The company is the specialist within its industry and market, and external experts can put together the pieces that might be overlooked from an internal perspective. To achieve greatness, you must start with togetherness.
You must know the past to understand the present. By understanding how your company has performed, how the market has changed and what the competitors have done, you come a long way. With M-Brain, having access to a vast amount of data is crucial. By also bringing a global mindset to the analysis, you not only reveal insights about the industry and geographical area in focus but can also apply insights from other markets.
How should we catch the trends?
Once you understand the past, you must create awareness of the current situation, including everything from ongoing trends to vague signals. Business environment is changing fast and the key to staying ahead is to pick up early and adapt to continuous changes. To be able to catch as many trends as possible, you should be an expert in secondary research and have a vast network of experts. Easier said than done, but by mapping out the current situation through market analysis, competitor deep dives or consumer profiling, lots of seemingly impossible problems can be solved. If you bring in expertise in methodology and apply cross industry learnings, a new dimension of intelligence can be reached. By bringing in practical experience of industries, related sectors and the home market you benefit from best practices.
Future-thinking approach to realize uncertain future
No one can foresee the future, but you can always improve the odds. By expanding your mind through scenario analysis, market forecasting and trend spotting, unthinkable future states can become reality. Combining disciplined experimentation with deep market intelligence as the underlying information can lead the discussions to a new level and help you avoid status quo or silos that can drain even the smartest business. Does all this sound overwhelming? No worries, you know where to find us.