TYPE: Industrials / Manufacturing, B2B.
In this case study, we will reveal how Intelligence2day® helped this company make better business decisions through the use of structured, relevant data, as well as significantly reduce costs and save time.
This global company manufactures industrial components that are a vital part of their customers' products. Its customers are spread out across multiple industries, which means they have to monitor many sectors to be updated about their customers' business.
A large global industrial components company approached Comintelli with the challenge of structuring an enormous amount of information, as well as creating a better process control that could serve all the different business units of the company.
The company’s market landscape is extremely broad, with 10 different major industries operating within the overarching company, including automotive, chemicals, energy, as well as food and beverage.
Internally, the company has 12 business lines and product areas – each of which is active in a number of different industries. This means there are multiple dimensions of what is relevant within all 12 individual business lines. Not only are there multiple sectors, but all the components used in each sector have different applications, meaning the information needed to be relevant for each sector. This is an extremely large amount of information that crosses between business lines and industries which needs to be monitored.
What this company needed was an in-depth, multi-layered approach to intelligence that could ensure each sector received relevant, quality information, and didn’t experience information overload.
From understanding the company’s needs, it became clear that the focus needed to be on structuring information in such a way to put relevancy at the forefront and provide insights to the right decision makers.
Customized dashboards increase relevancy
The first and most important place to start was to set up the platform and find a structure that worked. This included creating over 25 tailored dashboards where each user can find visual charts and top topics at a glance.
One of Comintelli’s key strengths is that we can have a central repository of information, but can create local, customized dashboards, where different user groups only see what is relevant to them.
More efficient workflows and processes
Now that quality sources are connected to relevant industry-specific news sources, and are displayed neatly within the dashboards, the company’s workflows and processes have improved significantly.
There is no need to collect the sources from external or internal news sources, especially news which can often be difficult to find like news from China, for example. All relevant news is translated directly on the Intelligence2day® platform and old market research can also be stored.
Having a centralized system has also resulted in a reduced amount of duplicate work, and a better focus on important market intelligence. Now, the company can have a broad scope covering over 1000 competitors and many different topics can be monitored and adjusted at any time.
Previously, all different departments would buy the same reports twice but a centralized system has reduced the collection of information which has reduced the costs of duplicates.
The company also stated that they have reduced their service costs significantly since changing to Intelligence2day®. Many intelligence platforms have hidden costs and agendas and customizing a platform usually involves hefty prices. Intelligence2day® is built so that our clients are able to customize it themselves and our support is included in our license.
“The global industrial components company trialled a different provider before Intelligence2day® which was too rigid and didn’t meet their needs of distributed intelligence. The company was promised a lot of tailoring which was not so easy to do. It required going back into the development phase which took a lot of time and inflated the cost. Using Intelligence2day® dashboards, all the configuration could be done by the customer themselves.”
An increased interest in intelligence
The future looks great for this global industrial components company with Intelligence2day® on its side. In fact, the new intelligence platform has had a positive effect on many different departments and individuals, with an average of 75% of the users logged in every week.
Users that were previously not interested in intelligence are now intrigued to see the impact it has on decision making and how easy it is to receive information. This has also created a shared interest among different departments where departments share and discuss information, instead of staying silent in their department silo.
“Intelligence2day® has benefited and impacted the company’s overall decision making as we now have a centralized place where all information is stored and accessible by all different business lines.”