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Market intelligence is one of the most important skills any business needs today. With so much going on in most industries, competition is inevitable, and only the best players thrive. Fortunately, a business can make itself stand out by using one of the numerous intelligence tools available. These tools help business owners gather enough intelligence to plan and keep up with evolving trends and consumer demands.

Benefits of market intelligence tools

Generally, these intelligence tools come in handy when striving to gain product and brand success. Solid market intelligence tools have the capacity to:

● Identify crucial trends to consumers
● Understand consumer needs and the competition
● Learn consumer behavior and expose their sentiments
● Tell the difference between critical and non-essential business issues.
● Establish new opportunities for business products, services, or investment.


Market Intelligence Tools that Work

There are several market intelligence tools[/b] that businesses can opt for. These include:

[b]NetBase Quid

This offers the perfect merging between intelligence and consumer analysis. The information supplied includes company profiles and patent filings, media coverage, and social engagement by region and demography. NetBase Quid is a leader in artificial intelligence, making its platform one of the best in the sector. It tends to offer reliable, updated, and flexible data from diverse sources. Businesses can use the tool to track trends happening both culturally and also in different industries. Companies can see where people are buying and reveal the impact of world news on businesses. The specific search avenues where dates and specific phrases are uses for targeted results make it easy for businesses to position themselves for success. For instance, currently, the impact of Covid19 news effects globally has affected businesses in different ways.

Statista

This is an excellent tool for supplying information on market size reports and making projections by industry and region. It is a portal that provides statistics and relevant survey results. It covers over 600 industries in over 50 countries globally. It is also available in 4 different languages making it versatile and crucial. Business owners are advised to pay special attention to the platform. Unlike Quid, Statista is not specific. It supplies information from social media as well as from research papers. The Boolean search enabled tool helps business owners get an insight into consumers' travel and trends. Users can also choose to focus on specific places by searching for exact locations. You still get to access market statistics and outlook reports. They also have a consumer-focused global survey that connects business owners to how consumers think.

Pew Research

Pew research focuses on survey reports, demographic data, and analysis. It operates as a database for published articles, all of which touch on different topics of social interest. While it may not have a lot to offer, the little that it does is reliable and top quality. It is possible to gather a lot of information for your business’s market despite the limited content it supplies. The possibility of searching within data sets is inviting. You also get to use interactive controls that allow users to set a timeframe and include or exclude topics.


Businesses that learn how to use such tools can set their businesses up for success. When you know what to expect, then the chances are that you can easily use the information and position your business strategically. What’s more, these tools are easy to use and are a friendly way of growing your business even in the hardest times. They make it possible for business owners to supply exactly what consumers want. Take advantage of these tools to take your business to the next level.