Industry market research and market intelligence

Conducting industry market research and gathering market intelligence is a foundational step to generate cash flow for a company.

Market research is an expense and an investment. But done well the activity will provide intelligence and offer a framework for decision making. Market research leads to market intelligence which the American Marketing Association defined as a "systematic gathering, recording and analyzing of data about phenomena related to the marketing of goods and/or services."

Market intelligence is knowledge intersects beliefs and truths.

Market research and sifting through data to build an intelligent framework for decision-making is necessary when lots of information is available to analyze. It may be a strategically wise investment to hire an outside resource to come in, organize the data and perhaps generate additional research to validate opinions.

Also read Paid Market Research