(Competitive Intelligence: Moving in the Big Data Direction for
Vendors, Finally!)
To me, there should be an acid test that vendors apply when considering their market data needs.
Then use this checklist versus the data a third party can provide.
It looks something like this for market pricing intelligence:
- Does your data extend to the product level? And for both our company and our key competitors?
- Is the data benchmarked vs our competitors at the highest level of granularity – can I see my product availability in a
specific location, vs my competitors at the product level of detail? - Is it updated on a daily basis?
- Is it up to date as of this week?
- Does this come in the form of software we can access as opposed to data files being delivered?
- Can I interact with the data in a way to support various teams within my company, so benefit can be broadly delivered?
- Can the data be easily extracted -taken out of the tool to use in different types of testing on our side, or is the data only held within the tool?
- If I wanted to integrate our data with your market data, is it possible and will you perform the integration?
- Can the software/data support alert notifications so we can see changes and new information important to us, supporting different teams’ needs, based on criteria we provide?
If these 9 questions aren’t answered with a confident “Yes!” then they should be. The data you need does exist.
In Summary
TPC Global’s PriceMark tool is one of a handful of solution providers in the competitive intelligence space, and expects more and more to arrive as the diversified needs of vendors are solved.
Ultimately, the Big Data world has finally arrived for vendors, but the application of solution provider’s offerings must combat the complexity vendors naturally exhibit.
Building a successful channel is not one-size-fits-all and nor should be the approach to vendor-focused competitive intelligence.
TPC Global & PriceMark
As for PriceMark and TPC Global? We work with global technology vendors providing channel analytics solutions and consulting support. Everything we do is data-led and in direct support of channel leaders and decision-makers.
Our PriceMark tool is designed for vendors, and has a number of USPs including cross-competitor product matching and an extensive database collating 1.7 million pricing and performance details each day.
If you’d like to chat, you know where to find me.
Best wishes,
David Porter
CEO & Founder
TPC Global
May 16th, 2021