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Central Business Intelligence: A Lean Development Process for SMEs

In: B2B Marketing

Author

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  • Lukas Strohmeier

Abstract

The aim of this paper is to examine the possible benefits of a centralized business intelligence department in the industrial b2b segment. The focus will be on market-centered business intelligence, therefore labeled as market intelligence. A big issue in the strategic planning of industrial companies is the fact, that they often do not even know the size of the markets they are competing in, which is mainly the result of a lack of reliable data and data handling skills. Powerful data visualization software, which emerged in the 2010s, is identified as the critical element in the evolution of market intelligence methods. These tools allow even smaller organizations to harvest the full potential of the data and enable an efficient knowledge distribution within the organization. The case study analyzes the market intelligence landscape of a multinational industrial engineering company pre and past implementation of a centralized market intelligence department. The analysis concludes, that the company was not aware of its market intelligence costs prior to establishing its business intelligence unit and that a significant savings potential has been discovered. Furthermore, the newly established Business Intelligence ecosystem significantly improves the credibility & reliability of the business planning activities.

Suggested Citation

  • Lukas Strohmeier, 2021. "Central Business Intelligence: A Lean Development Process for SMEs," Management for Professionals, in: Uwe G. Seebacher (ed.), B2B Marketing, edition 1, chapter 30, pages 685-698, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-54292-4_30
    DOI: 10.1007/978-3-030-54292-4_30
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