Market intel­li­gence is the key to making the right busi­ness decis­i­ons at the right time. It redu­ces risks and enables effi­ci­ent growth. Essen­ti­ally, market intel­li­gence is about data — coll­ec­ting and analy­zing data about compa­nies, those closest to one’s own company: the custo­mers and competitors.

When you think of company data, the Excel spreadsheet imme­dia­tely comes to mind. Filled with endless rows of manu­ally cura­ted data on compe­ti­tor sales, inven­tory levels, custo­mer orders, ABpro­duct margins, store addres­ses, and so on. So far, these data help us keep track of what is happe­ning, iden­tify patterns, and make predic­tions (Negash & Gray, 2008). They support colla­bo­ra­tion and enable better decis­ion making (Bryn­jolfs­son & McEl­heran, 2016). Many modern compa­nies have also adopted data warehouse systems-and more recently, data lake appro­a­ches-as well as custo­mer rela­ti­onship manage­ment (CRM) tools to store busi­ness data (Al-Debei, 2011). Howe­ver, a surpri­sing number of orga­niza­ti­ons conti­nue to rely on spreadsheets to store, share and colla­bo­rate on busi­ness data. The gene­ral premise is that any struc­tu­red format
is better than distri­bu­ted notes and memos — and rightly so.

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