Academy of MARKET INTELLIGENCE (AMI, http://www.mkintel.org/) Monthly Brief

 

aUTHORED BY tOM gROOMS

 

November 2004

 

No. 035

 

 

"Collecting What Needs To Be Known"    

       

Once market intelligence and intelligence professionals have selected what it needs to know, it can get going to collect the necessary information required to meet the CEO or policymakers objective.  No matter what the company or country, no matter what the issue or objective, the necessary information falls into three separate and distinct categories.

 

First, there is public information (from marketing research), easily and openly available to anyone who wants it. This includes everything from summary statistics and general background information from a public library (make friends with a reference librarian), open sources at government agencies (as Census Bureau, Commerce), international organizations publications (as World Bank, EU in Brussels, IMF), or respected publications (as Harvard Business Review, Wall Street Journal, Financial Times, Fortune, Economist).  There is a wealth of useful and accurate information available from public sources like these and it is amazing how heavily a good intelligence organization and professional relies upon them.  Best, it is free and legal to collect.  A good intelligence operation should rely upon public sources for much of its information - in fact most of it.  Why spend time and money to manufacturer information when it is already waiting and available - more often than not, for free - on the shelf for the collecting.  

 

Second, there is private information (from marketing intelligence, competitive intelligence, competitor intelligence) not publicly known but legally available to whoever is willing to seek it out and pull it all together.  This includes the kind of information and analyses that is available from talking to knowledgeable people.  Say for example, if a company in the widget products business needs to know whether Shanghai or Singapore would be the better choice for its new Asian manufacturing headquarters, its market intelligence officers will search around Washington, Dallas, New York, London, Zurich, and Tokyo seeking out consultants in these political and financial capitals who have the best grasp of Shanghai's and Singapore's economic and political prospects.  They will check out the world's leading universities to see who among their faculties is worth talking to about the subject.  They will not take the experts' word for it, regardless of their credibility and personal reputations.  If the intelligence officers are any good, they will visit the countries themselves, meet with as many people there from as many walks of life as time and access permit.  They will find out for themselves what is going on, and more importantly, what is likely to go on in these countries in the months and years to come. 

 

Getting this kind of genuine information takes less genius than effort.  It takes a telephone call, an airline trip, a credit card, and a good pair of walking shoes.  Most of all, it takes a bunch of people each of whom has one of the major qualities of a good intelligence officer - the willingness to go wherever the necessary raw information is waiting to be had.  And while there, they should walk their feet off, stroll through good and bad neighborhoods, visit markets, read newspapers, wander around the local universities, and so forth to get a sense of the population's mood, its economic conditions, its sense of discontent or tranquility. 

 

Third and final category, now the part you spy fans have been waiting for so patiently.  That is secret information (business intelligence) closely held by those who possess it and not legally available regardless of how much money and effort may be expended to get it.  For this stuff, you need spies.  Real ones.  Let us be clear about one thing right now - business has no business messing around with spies, secret information, or espionage in any form whatever.  It is illegal, immoral, unethical, wrong, stupid, and most of all it is not necessary.  The information the business requires to compete successfully in a complex multinational environment is not secret as it is available in the first two categories.  Any CEO or business executive who thinks they need secret information to achieve their objective needs to think twice as they are trying to substitute an illegal quick fix for brains, time, money, and analytic effort. 

 

Secrets are never an end in themselves.  This is the key point so many who have some responsibility for management or oversight fail to grasp.  Secrets are merely one form of unnecessary raw information and a very small amount at that compared to the legal first two categories.  If you cannot figure out what to do with a particular secret that is in hand, your organization probably should not have bothered to collect it in the first place.  This is to court disaster.

 

The problem becomes that secrets are addictive.  Like cookies, it is hard to eat just one.  A CEO or policymaker can easily wind up stuffing themselves and being to full to eat a balanced dinner.  Likewise, intelligence professionals can become addicted to secret information and as a result do not have the time to collect and analyze legal open information.  It then becomes easy for the CEO or executive to loose interest in open information to the point it is ignored when it hits them square between the eyes.  This is a looming catastrophe. 

 

Organizations have grown so large that secrets are not nearly as secret as they used to be.  Even the most closely held secrets are known to many people in the organization.  With so many people in the know and so many who want to know, the only question is not whether a secret will leak but when.  Whatever is secret today is common knowledge tomorrow and soon thereafter obsolete.  The half-life of a secret is getting shorter all the time.          

 

Technically, there are two ways to collect information - with people and with machines.  The driving question remains the same - what do we need to know to achieve the CEO or policymaker's objective.  Thus, all too often this key question gets lost in the shuffle and endless squabble over limited resources commitment - in other words who gets the money to do.  As we have now learned, when you know what you need to know, you know what you need to collect.           

 

                   

 

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