1. Sector Intelligence
Sector intelligence helps in tracking the latest happenings of a large group of companies. Now, every industry belongs to a certain sector. Companies are grouped together into sectors by looking at the similarity of business activities such as finance, healthcare, IT, communications, and more.
Each sector has unique characteristics as well as a unique risk profile. Sector intelligence offers access to these trends prevalent in each sector. Sector intelligence is generally useful to investors in management, advisories, etc. They use sector intelligence weekly for making important recommendations. They can put their money in a sector that has the potential to grow.
For example, an investment bank needs to make buying and selling decisions quite rapidly. Sector intelligence plays a crucial role in making these decisions as stock usually follows the performance of the relative sector. On the other hand, advisory firms offer knowledge-based recommendations. These services help companies fight challenging times such as bankruptcy. Advisory firms require sector intelligence for selling their expertise to clients as well as making crucial recommendations which contribute to the future of any company.
2. Competitor Intelligence
Competitor intelligence focuses on understanding the decisions and moves of competitors in the industry. It is meant for keeping an eye on how competitors are developing their products, selling their services, marketing, and winning sales deals. It gives an insight into the overall competitiveness of other companies within the industry. Competitors pricing tools helps in comparing the products and services of the competitors along with their prices.
It is essential to track what their competitors are doing in their respective departments and how it impacts their business, consumers, market, etc. Competitor intelligence is useful for sales and marketing teams for understanding how competitors market their products and services. It also gives an understanding of how your competitors are winning deals with the prospects which you might have been targeting.