How does today’s economic uncertainty affect market and competitive intelligence automation initiatives?
Summary
As 2022 winds to a close, many macroeconomic uncertainties – driven by war in Ukraine, global inflation, stock market volatility, ongoing supply chain woes, and more – are affecting the business outlook for 2023. A recent article in the Harvard Business Review, authored by Janet Balis, a consulting practice leader at Ernst & Young, addressed this uncertainty from the perspective of Chief Marketing Officers (CMOs) at large organizations who may face potential near-term budget pressures. In the M&CI function specifically, such an exercise may identify redundant third-party research subscriptions held by several business units. Separately, Balis addresses the subject of driving strategic technology investment across all aspects of the marketing function, enterprise-wide, during an economic downturn. Leveraging a M&CI SaaS solution has the benefit of not burdening an organization’s internal IT resources – often over-stretched, with long development queues – with yet another project, and one that internal IT may be particularly ill-suited to execute, given the range of content sources and third-party publishers’ systems that typically need to be integrated into an enterprise M&CI knowledge management system.
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