Top 10 questions to ask yourself before choosing a market intelligence platform

A Market Intelligence platform is essential for every business operating in highly dynamic and competitive sectors, such as apparel, beauty, electronics, etc. Finding a good tool that actually works for your entire product range and is able to monitor all aspects of the entire market, without heavy investment in maintenance, is not an easy task.

The good news is that nearly 81% of them believe that implementing a comprehensive digital strategy is vital to their survival over the next few years. 55% of them are already actively investing in intelligent, innovative technologies and reporting that Digital is 1 of their top 3 growing sectors in their business.

When choosing a market intelligence platform, you should ask yourself the following 10 questions:

  1. Does it cover all my competitors?
  2. Does it cover my entire current and future catalog - apparel, electronics, shoes, beauty?
  3. Does it monitor and analyze in real-time?
  4. How long will it take to set-up and what are the IT resources needed?
  5. Will I need to manually specify the competitors or products every time a new product is added to the catalog?
  6. For multinational companies - does it support multiple languages and currencies?
  7. Does it support multiple package sizes?
  8. Does it discover new insights for me?
  9. Does it send me alerts when something important happens?
  10. Is there ongoing support to ensure my team understands how to use the platform effectively?

Your "secret sauce"

If you choose the right platform, it will be your “secret sauce” for creating and maintaining a competitive advantage.

You will know everything that happens in the market.

You will identify new ways to generate revenue and differentiate yourself from the competition.

All with efficient business processes and with your people focusing on actions and implementing strategy quickly.

Click to get a free demo of your company and watch how it works.

Click to get a free demo and watch how it works.

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Click to get a free retail market trends report of your industry and watch how it works.

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Galiya Simanovsky

Co-founder at Adapt, enjoys writing about retail & digital transformation.