TMT Companies Operate Advanced Market Intelligence Functions Despite Challenge in Accessing Information

August 1, 2013. Global companies in the Technology, Media & Telecommunications (TMT) industries will spend millions on market intelligence* in 2013. The biggest spending information technology (IT) and software companies will spend up to US$50 million this year; telecommunications companies, US$10.4 million; and electronics companies US$6.5 million. Media and entertainment spend the least, with their largest budgets reaching a maximum of about US$2.6 million.

While these figures may appear substantial, they are however, not the biggest spenders. By comparison, some manufacturing and industrial companies may commit as much as US$130 million to market intelligence in a single year.

With the millions of dollars that are invested in market intelligence, do TMT industry executives think that the time and resources they have put into intelligence have been useful? How efficient do they perceive their own market intelligence capabilities to be?

The answers can be found in M-Brain (formerly GIA)’s 2013 Global Market Intelligence Survey, where we compare four groups; companies in the IT and software sectors with 67 respondents, telecommunications sectors with 47 respondents, electronics and high tech sectors with 33 respondents, and those the media and entertainment sectors with 26 respondents.

IT & Software Telecommuni-cations Electronics & High Tech Media & Entertainment
Size of annual budget for market intelligence (1 being largest) 1 2 3 4
Our investments in market intelligence have paid off 85% 79% 76% 73%
Decision-making is very efficient 61% 70% 67% 58%
Information is always readily available 40% 43% 30% 52%

Overall, it would seem that companies in the IT and software group spend the most on market intelligence and enjoy the highest ROI from their intelligence efforts.

However, the study showed that it is the executives in the media and entertainment sectors who consider their market intelligence to be most advanced, placing them in number one position overall in a 20-industry ranking. Interestingly though, they also perceive their return on investment (ROI) to be the least of all 20 industries.

All in all, it appears that more can be done to raise the market intelligence capabilities at Technology, Media & Telecommunications (TMT) companies, particularly as a majority of the survey respondents say that information is not always readily available.

To rise above the competition, industry executives can look to how global companies with world class market intelligence have performed.

According to market intelligence benchmarks used in the research, companies that have the most advanced market intelligence functions have only grown from strength to strength. They have increased the amount of market intelligence delivered directly to their top management to 46% since 2011, compared with only 36% for an “˜average’ company. Such world class market intelligence companies have been proven to be 28% more efficient in decision-making.

Their market intelligence executives are also 33% more likely to be viewed as trusted advisors to top management and serve 50% more internal clients using efficient software tools.

* Market Intelligence refers to the corporate function where companies gather and analyze information that affects their businesses, which they then turn into market insights to support decision-making. It covers areas such as customer interviews and insights, technology analysis, competitor analysis or strategic analysis. In order to conduct market intelligence effectively, corporations invest in business information management tools and conduct research projects and workshops to help them forecast megatrends and plan ahead.


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