Adapt Intelligence, LLC

According to Entrepreneur.com many businesses make the following mistakes:

Using only secondary research: Relying on the published work of others doesn't give you the full picture. It can be a great place to start, but the information you get from secondary research can be outdated. You can miss out on other factors relevant to your business.

Using only web resources: When you use common search engines to gather information, you get only data that are available to everyone and it may not be fully accurate.

Surveying only the people you know: Small-business owners sometimes interview only family members and close colleagues when conducting research, but friends and family are often not the best survey subjects. To get the most useful and accurate information, you need to talk to real customers about their needs, wants and expectations.

How to Do Market Research--The Basics Is your business a product in search of a customer? Use these tips to create a product or service customers will clamor for.

“It is pardonable to be defeated, but never to be surprised.” – Frederick the Great

According to the Harvard Business Review, we must start to think differently about how business, management, and strategic intelligence works.

What companies today need isn’t meticulous plans, but to constantly reassess the business and its markets and competitors.

In other words, the goal for strategic intelligence is not to collect market information to make plans, but to use that information to generate insights that in turn support ever-changing perspectives.

The Right Way to Use Competitive Intelligence It’s to update your perspectives.

Debra Bass, President of JNJ, recently suggested the following steps to avoid “InfoObesity,” which she defined as companies gorging an inconsumable amount of data.

1) Start with the business objective: You have to begin with an understanding of the key questions you are trying to answer.

2) Then identify the measures that will answer the questions. This focuses your data collection effort.

3) Develop a data governance council.

4) Map out a complete view of the data: Identify what data exists in the company and who has access rights to it.

5) Use the right tool for the right job. The further you get away from the standardized use of software and the more you add complexity, the less likely the tool will be effective.

Why Too Much Data Is A Problem And How To Prevent It A recent MarTechNews article suggested that marketers are suffering from “InfoObesity,” gorging on an inconsumable amount of data that is not just unwieldy but can become dysfunctional. Sara Spivey, CMO of Bazaarvoice, provides insight into what marketers can do to combat InfoObesity.