The world – technology, information, jobs, change – is moving at breakneck speed, and keeping pace is crucial to a business’s long-term sustainability and success. To stay in the race, you need to garner relevant, reliable business insights that you can translate into intelligent, well-informed, strategically driven decisions.
So, how do you glean these critical and powerful insights? Start with business intelligence, competitive intelligence, and market intelligence.
Business intelligence (BI) consists of both a company’s strategies and the technologies it uses to analyse news, data and business information and understand trends in the quest for those invaluable business insights. BI employs software and services that turn data into useful, practical insights that can drive an organisation’s strategic business decisions.
Today’s BI technologies provide historical, current and predictive views of business operations. They collect, process, analyse, and organise data and present learnings in the form of reports, summaries, charts, and graphs. These comprehensive insights into the state of their organisation enable tactical, impactful decision-making and can propel business gain.
Like business intelligence, competitive intelligence helps companies gain a better understanding of the industry in which they’re operating. But competitive intelligence focuses primarily on the competitive landscape: Who are the current key players in your space, and who are the emerging or aspiring contenders?
Companies undertake competitive intelligence to:
- gauge trends so they can identify market leaders and potential disruptors
- derive fundamental details on the competitors in their industry
- track the movements, strategies, strengths and weaknesses of their rivals
- keep informed on industry news and information so they can stay ahead of the curve and gain a competitive advantage
- support strategic planning.
Armed with these insights, companies are in a better position to strengthen their own brands and solidify their standing in the marketplace.
Market intelligence goes beyond competitive intelligence to look both outward at consumer behaviour and the broader market in which companies operate and inward at their customers. This type of intelligence draws on multiple information sources to paint a picture of the current state of an organisation’s customers, market, challenges, competitors and growth potential.
With a focus on analysing and better understanding the consumer and the customer, market intelligence data and analytics typically involve demographics, population, consumption, consumer demand, and other social and economic statistics.
Companies use market intelligence to:
- improve their business model, projections and existing products
- develop new and innovative products
- become more customer-centric, increasing customer loyalty and retention.
Nexis provides the best-in-class range of news and content to help you access the news that matters most to your organisation. It combines advanced search technology and an unmatched collection of content to provide you with relevant, reliable and comprehensive business, competitive and market intelligence to help your organisation make better business decisions.
Nexis aggregates information from more than 36,000 international news and business outlets, as well as from thousands of business-relevant websites, blogs, and forums. Tens of thousands of sources and millions of documents are at your disposal for company research.
Plus, Nexis’s archives date back more than 40 years, so the tool provides results that can serve up the big picture – not just today’s headlines. And Nexis adds to its archives every minute, every hour, every day.
Nexis’s advanced search tools include:
- a customisable search form for crafting your search
- LexisNexis SmartIndexing technology, which identifies related documents that might not contain your exact search terms
- Nexis Alerts, to keep you up to date on news and other content
- LexID (technology that detects connections you might otherwise miss)
- shareable analysis and visualisation tools, such as charts and graphs for pinpointing trends.
LexisNexis Newsdesk® Media Monitoring and Business Intelligence Software is a platform that lets you apply filters so you can always find the news and content that matters most to your organisation. It improves your visibility into the business-critical intelligence you need. The broad range of web content available lets you access key news and events impacting your organisation and allows you to monitor in near real time what’s being said through social listening. This ensures you can respond to trends, challenges, changes, and more with greater agility.
Newsdesk® lets you comprehensively comb through content with the help of customisable dashboards, branded alerts and newsletters, embeddable interactive charts, advanced analytics and filtering, personalised searches and alerts.
- monitor your brand
- analyse results
- benchmark against competitors
- identify trends
- share copyright-compliant news and information.
Metabase is a single, unified application programming interface (API) that allows you to integrate targeted near-real-time news and social media into applications to support business intelligence. Delivering billions of relevant documents and data points, Metabase makes it easy to extract business intelligence from the most comprehensive, global content collection of print, online news and social media sources in the industry.
LexisNexis Social Analytics
LexisNexis Social Analytics is a social media monitoring and data intelligence tool that empowers brands and agencies to make business decisions based on social insights. With real-time social media monitoring, you’ll never miss a conversation about your brand, products, or competitors. It allows you to identify patterns, follow trends, assess performance gaps, and track return on investment of your campaigns.
LexisNexis Social Analytics lets you:
- determine from which network people are coming to your website and monitor how effective your efforts are on different social networks
- monitor influencer impact
- run social-listening reports
- turn data from social conversations into meaningful insights from more than 10 social networks and 150 million websites
- generate automatic reports to share social insights quickly and efficiently.
Ultimately, armed with the right business intelligence solutions and relevant, reliable intelligence, you can make faster, more informed decisions with confidence.