2 Minute Read

Have you ever noticed how big gaps create shrinking spaces?

Example: A huge discrepancy between the number of doctors on schedule and the number of patients in need means fewer doctors to serve more patients, leaving no room for error, variability or strategy. The same concept is true whenever demand far exceeds supply. Too many market intelligence functions and departments are experiencing this same issue today, as the position of gatekeeper — one who holds the keys to data that the team collects, compiles and sorts — becomes more complex and more in demand every day.

It seems that capacity for market intelligence research is getting tighter while information is increasing constantly. The challenges that face market intelligence analysts can make your job difficult to keep up with. But there are ways to overcome these challenges.

Capacity

The biggest issue market intelligence teams often face is the capacity to manage their overwhelming workload. Being the gatekeeper of information isn't a task that can fall by the wayside because of increasing demand and you need a more efficient way for your team to meet goals even with the influx of research requests for competitive and market intelligence.

Hiring new employees onto your team can fix the problem of research capacity, but only for a short while. Eventually, capacity will grow to be too much again for the number of team members you have hired and the issue will continue. Likewise, the time and money it takes to hire, onboard and gain value from new employees quickly becomes inefficient and unsustainable.

Your higher ups might have already suggested that a bigger team isn't in the immediate scope. To continue adding value to the company and fix the demand that is stretching your capacity to do your job to your full ability, you need something to help you better serve the internal customers at your company.

CI Software

Software might seem like a competitor when it comes to handling your workload, but consider instead the opportunities that become available when you have room to expand your tasks and capabilities. When data collection, organization and reporting are handled, you are left with the freedom to focus on qualitative and strategic data analysis.

Teaming up with a partner who deals with competitive and market intelligence can be a more cost effective way of performing research. It will immediately show value to your team by increasing your capacity and your value to the company as a whole.

Software that is meant to do front end work in intelligence research, along with collection and reporting, can improve your team's productivity by 450 percent. Software that integrates natural language processing will be able to aggregate, tag and organize an increased amount of information that frees up your time to focus on providing bigger picture, strategic insights from the data pulled by your software.

The market knowledge you have accrued from your time in the field can be used for greater strategic use, and your workload can be significantly and cost effectively reduced — if the platform is right. Think of your capacity today, and search for a platform carefully, with an eye on a better future at work. 

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