Spotlight

Report:

The Forrester Wave™: Market And Competitive Intelligence Platforms, Q2 2023

How does Forrester define the Market and Competitive Intelligence Platforms market in 2023?

In this 24-criterion evaluation of market and competitive intelligence platform providers for B2B companies, Forrester identified the most significant vendors and evaluated them based on their ability to help organizations transition from information aggregators to systems that deliver meaningful analyses. The market is at an inflection point where providers must leverage advanced AI technologies, particularly generative AI capabilities following ChatGPT's launch, to transform users' abilities to find precise answers about shifting markets and competitor moves. The main value proposition has been saving research time through integrated, one-stop shop platforms, but users struggle to create meaningful insights from the resulting information deluge.

Key Facts for The Forrester Wave™: Market And Competitive Intelligence Platforms, Q2 2023 in 2023

How did the Market and Competitive Intelligence Platforms market evolve in 2023?

What product features are required to be included in this year's evaluation?

What are the common features of top products in the Market and Competitive Intelligence Platforms space?

No common features specified.

Scope Exclusions

Inclusion Criteria

Vendors must, among other requirements:

Offering Strengths — Relative Weighting

Strategy Strength — Relative Weighting

FAQs

Q: What does this research cover?

A: This research covers a 24-criterion evaluation of market and competitive intelligence platform providers for B2B companies. It evaluates 14 vendors across current offering capabilities (sources and sourcing, taxonomy and search, analysis, operationalization), strategy (vision, innovation, roadmap, adoption, pricing, partner ecosystem, global delivery), and market presence. The report provides vendor profiles with strengths and weaknesses, and guides buyers in selecting the right platform for their needs.

Q: Who should use this research?

A: This research should be used by professionals in B2B organizations who are evaluating and selecting market and competitive intelligence platforms. It is particularly relevant for strategy, product, marketing, sales, business development, M&A, and innovation teams looking for solutions that range from high-touch services to competitive enablement to global and multilingual capabilities. Buyers can use the Excel-based comparison tool to adapt criteria weightings to their specific needs.

Q: What are the mandatory features of vendors included in this market?

A: To be included in this Forrester Wave evaluation, vendors must have: 1) A commercially available market and competitive intelligence platform that is promoted as such and cannot function simply as a consultancy; 2) A broader focus demonstrating capability beyond one sector or use case; 3) A strong focus on B2B, with more than half their revenue derived from B2B organizations and use cases.

Q: What are some reasons for not being included in this report?

A:

  • Operating primarily as a consultancy without a commercially available platform product
  • Focus limited to a single sector or narrow use case
  • Primary focus on B2C organizations rather than B2B (generating less than 50% revenue from B2B firms)
  • Not promoting their solution as a market and competitive intelligence management platform
  • Declining to participate in the evaluation process
  • Only partially participating in the evaluation process

Q: What should buyers consider when evaluating products in this market?

A:

  • Whether you need a high-services/high-touch solution versus a self-service platform
  • Focus on competitive enablement versus overall market trends
  • Need for global and multilingual solution capabilities
  • Providers that autopopulate templated content and deliverables with generative AI
  • Vendors that provide natural language answers and predictive analytics with trusted sources and attribution tracking to avoid AI hallucinations
  • Solutions that deliver personalized insights in the platforms where teams work through out-of-the-box integrations
  • Ability to integrate internal sources to augment market insights
  • Breadth of use cases supported beyond intelligence analysts (strategy, product, marketing, sales teams)
  • Quality and comprehensiveness of data sources including paywalled and proprietary content
  • Advanced AI capabilities including sentiment analysis, pattern recognition, and topic clustering

Q: How has the Market and Competitive Intelligence Platforms market evolved in 2023?

A:

  • Transition from information aggregators to systems delivering meaningful analyses that help users make decisions and take action
  • Leveraging advanced AI technologies including generative AI to provide precise answers to questions about shifting markets and competitor moves
  • Autopopulating templated content and deliverables with generative AI content using NLP
  • Providing natural language answers and predictive analytics to inform decisions
  • Delivering personalized insights to professionals in the platforms where they work through integrations with CRM, collaboration, sales content, and data visualization solutions
  • Integration of internal sources (conversational intelligence, ERP systems, voice-of-the-customer input, surveys) to augment market insights
  • Focus on activation and adoption to broaden usage beyond core intelligence analysts

Q: What differentiates Strength of Offering vs. Strength of Strategy?

A: Strength of Current Offering evaluates each vendor's position on the vertical axis based on their current platform capabilities including sources and sourcing, taxonomy/tagging/search, analysis capabilities, and operationalization/activation features. Strength of Strategy evaluates placement on the horizontal axis based on the vendor's strategic approach including their vision, innovation, roadmap, adoption rates, pricing model, partner ecosystem, and global delivery capabilities. Current Offering focuses on what the platform can do today, while Strategy focuses on the vendor's direction and market approach.

Reference

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