Key business operations
This steel supplier already possessed a Business Intelligence system containing internal information about various key business operations. However, some years ago the management decided to building a market intelligence system as an extension to the existing system.
Scanning the internet for news
The main reasons for this were increasing competition and ever evolving technological developments. The new system continuously scans the internet for news that is of relevance for the company, such as items about a vendor acquiring another vendor, or items about steel from China that is being introduced to the European market at favorable prices.
People can indicate their topics of interest
The reporting system has over a hundred active users who, through self-service (publish and subscribe) can indicate which topics are of interest to them. The reporting software sends email alerts with interesting information to the decision makers within the company. Managers regularly receive an aggregation of news at a strategic level: news that may lead to opportunities or threats to the organization’s business or marketing plan.
A merger between companies
As an illustration: news about a merger between two companies may be part of a general consolidation in the supplier market. “This offers opportunities (purchasing convenience) but threats too: suppliers gain more power. Based on these developments, we adjust our policy, for example by looking for new suppliers”, said the marketing analyst.
Spotting external opportunities with BI
The Wholesaler that initially used Business Intelligence for optimizing the internal organization becomes immediately aware of relevant external opportunities and threats and can thus anticipate faster and easier.