Does your business know how to spy?


Flap of a butterfly in Brazil can create a tornado in Texas is a famous chaotic theory explaining the sensitive nature of business.    Too many small things or effects are uncovered in our business and in daily life let alone understanding the causes.  Everyday there are butterfly flaps happening around us and we gave very little attention to it, because, we always worry about bigger effects and failures.  Often, we fail to understand that the bigger failure is the collection of smaller failures that keep happening in our daily life. 

While we may have one or two mechanism to uncover the internal warnings using strong business intelligence tools and holistic monitoring of data analyses, but we have very little control on external sensitive developments.   Knowing the business landscape and our company position or vulnerability is paramount to sustainability.  Most businesses fall in trouble due to failure in understanding the butterfly changes that is happening in and around the business environment.  We don’t need a tsunami detector, because it happens once in a century.  But businesses need to observe the butterfly effects, which has the power to unseat the business silently. 

Further, in ever changing business environment, we are constantly defied to create or extract opportunities from challenges.  Challenges are the best breeding ground for creating opportunities, but completely depend on the interpretation capability and knowledge.    

Knowledge and capability will be useless or ineffective if we don’t have enough data and information.  These days the explosion of data and information are tiring and misleading.  Therefore, companies are facing numerous challenges, such as how to be connected with market on daily basis, when and where and how to gather relevant information, tools that can build storage room.  Identifying the dark forces and block holes, etc. are major challenges that every businesses encounters.  Meanwhile, one cannot simply depend on data mining only.  We need the combination of data mining and human interpretation to arrive a safe platform to build right strategy. 

Market intelligence will be a major arm in any business to gather, synthesize, learn and drive right business strategy if it has the combination of both data and human interpretation.  This has to be built with internal sophistication rather than relying on external third party resources or software.   The level of competition demands in-house research and intelligence set up.  MI arm required working on daily basis and gather all relevant and irrelevant information for text and data mining.  Readymade software cannot give desired result and customizing according to business nature is important.

Building a right MI with right tools are need of the hour now.


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