One of the hot topics among our power readers this year is finding IT industry analyst services that can complement internal market research functions. The intent is to balance reliance on internal and external research groups. Tekrati readers who look at IT analyst services in this holistic context have a fairly different set of analyst selection priorities than their peers. For example, they talk about the business risks of using an industry analyst company or service.
I’m not referring to the risks of basing decisions on incorrect data. A recent study highlights the kinds of risk that have been coming up in conversations. During a Best Practices LLC survey of 85 market research departments, managers said that under-performing market research departments harm their companies. They said below-par market research departments “confuse managers, cloud decisions, hamper forceful execution, and consume valuable resources.”
The same is true for external market research sources — particularly those providing advisory and consulting services to decision makers.
Or, in the TCO parlance of IT analysts: the cost of acquiring an industry analyst service does not reflect the actual business costs, risks, or benefits of relying on its services.
Market research, analysis and reporting tools — and on-demand services — are changing at a fast pace. Business processes are changing. Decision support, communications and collaboration tools are all changing. Even if your organization is not now a power user of both home grown and IT industry analyst research, it’s a good time to start monitoring the evolving uses of IT market intelligence in your organization. Start thinking about different approaches for aligning IT industry analyst services not only with changing business decision processes, but also with internal research charters and skills.
In the not too distant future, the high tech industry analysts’ toughest competitors may be the researchers working inside your company.
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