Stronger the marketing intelligence, more effective will be the business strategy and efficacy of a marketing strategy is proportional to success of the product in the market. Accuracy and amount of information determines the effect of decision making, which in return determines market prospects of the product. To roll out a product in the market, an enterprise has to ensure its success and evaluate the best possible RoIe. The idea is followed by careful development of business strategies comprising of methodologies to acquire the market through innovative marketing ideas. To devise such strategic marketing ideas, the enterprise would have to rely on accurate market information and data. Herein emerges the prospects of Marketing Intelligence as one of the most important facets of business.
Marketing
intelligence has moved beyond the paradigms of physical market surveys and
analysis. Internet
being the mainstream has become the prime source of new
market data and information. This transition
from the spheres of physical surveys to internet-based researches has
materialized the Cloud Makeover of marketing Intelligence. The underlining idea
is, market research is now internet based and online platforms are the
dependable source of market
intelligence.
Market
information can be obtained from various sources. Big Data plays a major role
in the current landscape of business analytics. Big Data is complicated and an
exclusive branch has protruded to deal with it. However, data can be obtained
from simpler sources such as Social Media. Social Media Monitoring involves
collecting data from post on popular social media platform such as Facebook and
‘tweets’ on Twitter. It can offer the company an insight of customer’s review
and their viewpoints on any product or service.





