If you are a partner, consultant, or sector lead in a consulting, advisory, or any other professional services (PS) firm, you already recognize the importance of up-to-date and high-quality sector insights. Not only can they help you stay ahead of the market but also equip you to seize relevant opportunities.
Market trends, threats, or opportunities are contained in a plethora of unstructured data available to us. The challenge lies in identifying and connecting relevant data points and culling out intelligent insights to make informed decisions at the right time.
Just imagine how impactful your account development, solution delivery, or marketing efforts would be if you had access to actionable sector-level insights in a centralized digital platform and the ability to share them with users across your organization.
In this blog, we discuss the key elements of a robust sector intelligence program, as well as how a digital platform can help derive maximum value from it.
Essential Elements of a Sector Intelligence Program
An insightful sector intelligence program should provide:
Current pulse of a sector to help shape future strategy
Forward-looking analysis to help identify pockets of opportunities
Robust view of challenges and focus areas related to key accounts
Insights Sector Intelligence Programs Should Provide
A successful sector intelligence program should provide a high-level view of relevant sectors, key accounts related to those sectors, and insights to help you plan your strategy. A few coverage areas of such a program could be:
- Future themes: Emerging themes in a sector, such as areas that are attracting new investment from VC / PE firms / angel investments, areas that are witnessing collaborations between start-ups, and technology areas that are seeing patent filings
- Megatrends: Sector developments and megatrends, such as ESG, digital transformation, and sector convergence
- Competitor intelligence: Competitors’ eminence activities, thought leadership initiatives, investments, M&A and alliances, etc.
- Key account analysis and tracking: Detailed analysis and profiling of key accounts within each sector, with insights into developments, challenges, focus areas, strategy, investments, trends, etc.
How Digital Platforms Empower Sector and Account Intelligence Programs
The right technology is critical for an efficient sector intelligence program. By utilizing a platform powered by artificial intelligence (AI), machine learning (ML), and natural language processing (NLP)-powered engines, sector and accounts teams can gain access to actionable insights that directly impact decision-making.
Combining internal and external knowledge with domain expertise within an AI-enabled platform offers a panoramic view of the entire competitive landscape.
Infusing AI in a Sector Intelligence Program
Consulting and advisory firms have been using sector intelligence programs for years. However, a multi-fold increase in data has made it challenging to draw insights from them manually.
Moreover, there is now a growing need to look at alternative data to drive unique conversations with clients and prospects.
Evalueserve has been developing robust algorithms and engines, such as Signal Detection Engine, Horizon Scanning Engines, and Trend Spotting Engines, which use AI and Text Analytics to set up and enhance sector intelligence programs.
We are also testing engines that can capture ‘influencer chatter’ in a sector, as well as provide multi-document summarization to recap what analysts are discussing about a sector.
While AI engines help scale up the intelligence generating process, there still exists a need to fuse insights generated by various engines and then process them so that they become consequential for sector leaders or partners.
That creates the need for a human element or domain experts who can interpret various pieces of data to identify opportunities, challenges, and focus areas across a sector.
Evalueserve’s AI-enabled sector intelligence platform, Insightsfirst, equips you to gain a competitive edge through differentiated insights on sectors and associated accounts by providing intelligence on:
- Sector trends, themes, risks, and opportunities
- Potential revenue opportunities
- Business performance of key accounts versus competitors
- Investments made by key accounts’ competitors
- Eminence activities and thought leadership content released by key account’s competitors
Insightsfirst also has robust functionalities that:
- Offer a centralized view to provide a single source of truth for collective insights
- Enable collaboration to ensure that internal knowledge is leveraged and monetized
- Provide last-mile access, making insights accessible on-the-go
- Offer interactive dashboards to make insights intuitive
As a Leader in a PS Firm, You Can Use Sector Intelligence to:
- Rearrange your account development priorities
- Connect with the right set of people with the right messaging
- Uncover timely insights and map them to relevant opportunities
- Positively impact decision-makers
- Stay on top of sector movements, trends, and noteworthy investments
A robust sector intelligence program backed by an AI-enabled intelligence platform can help you drive insightful conversations, share targeted information, and offer solutions that address your clients' critical pain points.